Experienced Chapter 13 & Business Bankruptcy Attorney in Las Vegas
Practice Areas
Bankruptcy Litigation in Nevada, moves quickly, requiring substantial pre-planning and implementation of safeguard/exit strategies before and immediately after the case filing. Major disputes can be litigated on day one or within weeks of the bankruptcy filing, often involving complex transactions for which the parties have limited due diligence and discovery time.
Our bankruptcy team combines Nevada industry experience, litigation and creative problem-solving skills to efficiently and effectively further our clients’ objectives. We have extensive knowledge of how debtor-creditor issues affect day-to-day business operations and long-term viability is one of the hallmarks of the Black & Wadhams advantage.
At Black & Wadhams, our attorneys advance and protect our clients’ rights through the complex world of bankruptcy litigation, liquidation or restructuring. We understand the process from both sides and are equally equipped to enforce creditor’s claims or protect a debtor’s assets.
Corporations and other business entities file under Chapters 7 or 11. Learn more about Bankruptcy Chapters
Bankruptcy FAQs
Generally, upon the filing of a bankruptcy petition, the “automatic stay” takes effect. An “automatic stay” prohibits creditors from commencing or continuing collection efforts against the debtor or its/his/her property. Certain actions listed in Section 362(b) of the Bankruptcy Code are not subject to the “automatic stay” (i.e., criminal actions against the debtor or actions by governmental agencies to enforce police or regulatory powers). Creditors can seek relief from the “automatic stay” by filing a motion in the bankruptcy case.
Both corporations and individuals are permitted to file Chapter 7 bankruptcy. Individual debtors are permitted to retain certain "exempt" property, while the remaining non-exempt assets are liquidated by a chapter 7 trustee. An individual debtor is entitled to seek a discharge of certain types of debt while a corporate entity does not receive a discharge. The trustee will distribute the funds from the liquidation to holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code.
Chapter 11 bankruptcy allows a business or individual to reorganize their finances under court supervision while continuing to operate. The debtor usually proposes a plan of reorganization to keep the business alive and pay creditors over time.
Chapter 13 bankruptcy allows individuals with regular income to repay a portion or all of their debt over an extended period of time (3-5 years). Chapter 13 may be appropriate for debtors who seek to retain certain assets through a repayment plan. As of April 1, 2025, an individual is eligible for Chapter 13 bankruptcy if the individual has unsecured debts of less than $526,700 and secured debts of less than $1,580,125. See 11 U.S.C. § 109(e) (these amounts are subject to periodic change).
A discharge prohibits creditors from acting against the debtor on debts incurred prior to the bankruptcy petition date. Unless otherwise ordered by the Bankruptcy Court, a discharge does not prevent enforcement of a lien or encumbrance on property of the debtor.
- A creditor or trustee may seek the denial of a debtor’s discharge based on certain actions listed in the Bankruptcy Code. 11 U.S.C. § 727. If the debtor’s discharge is denied, none of the debtor’s debts are discharged and all creditors can proceed to collect their debts against the debtor.
A creditor may seek to have its specific debt found “non-dischargeable” based on certain prohibited actions listed in the Bankruptcy Code. 11 U.S.C. § 523. In a Chapter 7 bankruptcy, examples of such actions include fraudulent conduct, embezzlement or willful or malicious injury to another party. If a debt is found by the Bankruptcy Court to be non-dischargeable, the creditor that holds the debt is not prohibited from collecting the debt after the debtor received a discharge.
The Plan of Reorganization is a document that is filed with the Bankruptcy Court in Chapter 11 or 13 bankruptcy cases that sets out how a debtor intends to repay creditors. The plan divides creditors into classes, sets forth the treatment of claims for each class of creditor and provides a means for the plan's implementation (i.e., how the creditors will be paid).
How Can We Help?
To request a consult about your Bankruptcy Law case, contact us via email or phone: