State Bar & Bar Associations,
Bankruptcy
Dec. 24, 2020
Bar groups that did well in 2020 credit flexibility, planning
More than one association has faced the possibility of bankruptcy in recent months. Los Angeles County Bar Association President Tamila C. Jensen told the Daily Journal the association may seek a Subchapter V proceeding, under Chapter 11, to restructure a debt that has ballooned in recent months.
For bar associations across the state, the question of whether they could push through the challenges of the pandemic this year hinged on factors they couldn't always control: the flexibility of their finances, their capacity to innovate quickly, and sheer luck.
And for those associations that said they were able to weather the storm, all agreed on one thing: They are in the minority.
More than on...
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