Legal Question in Bankruptcy in California
Bankruptcy
We filed a Chapter 7 because time was short and we did not have $20,000 up front that attorneys said they needed for us to file a Chapter 11. How can we convert to a Chapter 11 and obtain a lawyer who would be willing to help us without so much up front?
2 Answers from Attorneys
Re: Bankruptcy
I am not aware of anyone willing to risk losing their fees to discharge.
Re: Bankruptcy
Its highly unlikely that you will find someone to handle a chapter 11 for anything less than the retainer you were quoted. The actual fees in a chapter 11 will (depending upon the size of the estate, and what the goal of the chapter 11 is) almost certainly exceed $20,000. I assume you've been through this, but why an 11? Does the estate exceed the limits placed on a 13 - you can file a business 13. I doubt you will get someone to do this on a pro-bono or even modified pro-bono basis because 11s are extremely labor intensive, and your first day motions alone can expend the entire $20,000 retainer. Unless you have a rock-solid exit-strategy for the bankruptcy that will get an attorney paid, I don't personally know anyone who's willing to take that risk. Sorry - I wish I could be more helpful.
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