William N Lobel

Bankruptcy is as much a part of Orange County as surfers, swimming pools and high housing prices. The federal bankruptcy court in Santa Ana--along with its counterparts in Los Angeles, Ventura and Riverside counties--takes in more bankruptcy filings than any other region of the United States. The companies that have run into trouble and turned to the bankruptcy court include some big local names, including Smith International and Care Enterprises.

Bankruptcy is as much a part of Orange County as surfers, swimming pools and high housing prices. The federal bankruptcy court in Santa Ana--along with its counterparts in Los Angeles, Ventura and Riverside counties--takes in more bankruptcy filings than any other region of the United States. The companies that have run into trouble and turned to the bankruptcy court include some big local names, including Smith International and Care Enterprises.

Despite investors' allegations of "rampant fraud" by Newport Interstate Properties Inc., a federal bankruptcy judge refused Thursday to tie up the records and assets of the syndicator by placing it under the control of a temporary trustee. But Judge John E. Ryan did prohibit the company from transfering property or funds "other than in the ordinary course of business." The order came after the investors' lawyer, Jeffrey M.

Despite investors' allegations of "rampant fraud" by Newport Interstate Properties Inc., a federal bankruptcy judge refused Thursday to tie up the records and assets of the syndicator by placing it under the control of a temporary trustee. But Judge John E. Ryan did prohibit the company from transfering property or funds "other than in the ordinary course of business." The order came after the investors' lawyer, Jeffrey M.

A new law firm about to open shop in Newport Beach will be dedicated to the proposition that business is good when business is bad. Lobel & Winthrop, which opens its doors Monday, will specialize in business bankruptcies, reportedly the largest Orange County-based law firm to do so.

William N. Lobel, one of Orange County's more well-known bankruptcy lawyers, said that he is dissolving his Newport Beach law partnership and joining Irell & Manella's Orange County office. Lobel, 56, said the move reflects his desire to spend less time and energy managing a small law firm and more time working with clients and on outside business interests. "This will give me more free time," said Lobel, who added that he plans to retire in six years.

Former Helionetics Chairman Bernard B. Katz's plan to lead the company out of bankruptcy advanced Thursday when a federal judge rejected a competing plan proposed by former Helionetics executive Richard A. Walden. At a 6-hour hearing Thursday in Santa Ana, Judge John E. Ryan ruled that Walden's proposal failed to meet federal requirements that would have allowed him to approve it over the opposition of Helionetics' secured creditors.

A federal bankruptcy judge cleared the way Tuesday for a plan that would allow Maui and Sons, a major surf-wear manufacturer known for its logo featuring a shark wearing sunglasses, to emerge from bankruptcy. Under the plan, Maui and Sons would license its surf-wear label to other companies and would no longer manufacture the clothes itself, said William N. Lobel, an Irvine attorney representing Maui and Sons. On Tuesday, U.S.

Blaming Orange County airport officials for his fiscal woes, the majority owner of Tallmantz Aviation Inc. has filed for bankruptcy. Charles C. Seven, president and chief executive of Orange Aviation--which does business as Tallmantz--filed Friday for bankruptcy reorganization under Chapter 11 of federal bankruptcy laws. The papers, filed in U.S. Bankruptcy Court in Santa Ana, do not list the company's debts or liabilities. But bankruptcy specialist William N.

A new law firm about to open shop in Newport Beach will be dedicated to the proposition that business is good when business is bad. Lobel & Winthrop, which opens its doors Monday, will specialize in business bankruptcies, reportedly the largest Orange County-based law firm to do so.

The long-established Phil & Jim's electronics and appliance chain, with debts that exceed its assets by nearly $9 million, filed a petition Friday to protect itself from creditors while it reorganizes its finances under federal bankruptcy laws. The 40-year-old Anaheim company's petition in U.S. Bankruptcy Court in Santa Ana lists debts of $16 million, about $8.9 million of it secured, and assets of $7.1 million.

Two Irvine law firms that had earned well-regarded reputations for their expertise in separate fields have dissolved, splintered by partners with divergent views on the direction of their practices. Bankruptcy specialist Lobel, Winthrop & Broker, which had 13 lawyers, started to disintegrate last fall when partner Jeffrey W. Broker left, and the end came recently when partner Marc J. Winthrop formed his own firm.