Chapters 9, 11, 12 and 15

Southern California Corporate Bankruptcy Lawyers Since 1970.

There are six chapters of bankruptcy that one may file. Some of the chapters are highly specialized and thus not very common. The most common bankruptcies for individuals are Chapter 7 and Chapter 13.

Chapter 11 Bankruptcy - Business / Corporate Bankruptcy.

Chapter 11 is the type of bankruptcy mentioned in the news most often. Chapter 11 bankruptcies are high-profile bankruptcies used mainly by corporations, limited liability companies and partnerships to reorganize their financial affairs. Some of the more well-known companies to file for Chapter 11 bankruptcy in recent years are TWA, United Airlines, Texaco, Macy's, WorldCom, K-Mart and Enron. Individuals may file for bankruptcy under Chapter 11 but it is rare. Chapter 11 bankruptcy is a time consuming and expensive chapter, therefore it is only appropriate for individuals whose circumstances make Chapter 7 or Chapter 13 inapplicable or inappropriate. Less than one percent of all bankruptcy filings are Chapter 11s.

Chapter 9 Bankruptcy, Chapter 12 Bankruptcy And Chapter 15 Bankruptcy.

Chapter 9 Bankruptcy - Municipal Entities And Railroad Companies.

Chapter 9 bankruptcy is the chapter that railroad companies and municipal entities - cities, counties, school districts, and gas and highway authorities - use when they file bankruptcy. In the mid-1990s, Orange County, California filed a bankruptcy using Chapter 9. Bridgeport, Connecticut also filed a bankruptcy petition. Individuals cannot use Chapter 9.

Chapter 12 Bankruptcy - Family Farming Operations.

Chapter 12 is used by family farmers. An individual that does not own agricultural property cannot use Chapter 12.

Chapter 15 Bankruptcy - Foreign Debtors.

Chapter 15 is the chapter used by United States courts to administer assets of companies who have filed for bankruptcy protection in foreign jurisdictions.

If you are unsure about which type of bankruptcy would be appropriate for your situation, please contact the Law Offices Of Hagen & Hagen to speak with our business / corporate bankruptcy lawyers.

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The Law Offices Of Hagen & Hagen represents clients throughout Southern California, including Los Angeles County, Orange County, Riverside County, San Bernardino County, Santa Barbara County, Ventura County and San Luis Obispo County. Our Southern California corporate bankruptcy lawyers see clients from all over the greater Los Angeles area, including Santa Monica, Long Beach, Anaheim, Pasadena, Orange, Huntington Beach, Newport Beach, Garden Grove, Irvine, Yorba Linda, Riverside, San Bernardino, Pomona, Torrance, Simi Valley, Mission Viejo, Ontario, Glendora, and Covina. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.