State Bar & Bar Associations
Feb. 24, 2021
LA County bar avoids bankruptcy, escapes $100K a month lease
The 16,000-member bar association was on the brink of seeking a Subchapter V proceeding, under Chapter 11, to restructure its debt to its former landlord. But after an emergency meeting on Feb. 18, the board approved a settlement agreement. It now pays $20,000 a month at a different location.
The Los Angeles County Bar Association managed to avoid bankruptcy after getting out of a lease obligation that cost the group more than $100,000 a month.
The 16,000-member bar association was on the brink of seeking a Subchapter V proceeding, under Chapter 11, to restructure its debt to its former landlord. But after an emergency meeting on Feb. 18, the board approved a settlement agreement with the landlord.
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