State Bar & Bar Associations,
Bankruptcy
Dec. 22, 2020
LA County Bar Association may file for bankruptcy protection
The 16,000-member bar association said in a news release Friday it might seek a Subchapter V proceeding under Chapter 11 to restructure its debt.
Bankruptcy could soon be in the cards for the Los Angeles County Bar Association, which has been struggling with revenue losses since the start of the pandemic as well as obligations to a costly lease that won’t expire until 2025.
The 16,000-member bar association said in a news release Friday it might seek a Subchapter V proceeding, under Chapter 11, to restructure its debt. Subchapter V, which was created under the Small Business...
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