RELIANT LIFE SHARES, LLC Bankruptcy Filing
Case Number: 24-11695
RELIANT LIFE SHARES, LLC filed a 11 chapter bankruptcy in the Central District of California bankruptcy court on October 07, 2024. This is a voluntary filing; it was assigned the bankruptcy case number #24-11695.
RELIANT LIFE SHARES, LLC Filing Information
Reliant Life Shares, LLC has filed for Chapter 11 bankruptcy protection, according to court documents made public on October 7, 2024. The corporation, located at 15260 Ventura Blvd., #1200, Sherman Oaks, CA, has initiated the bankruptcy process with case number 24-11695 in the California Central Court. This move marks a significant development for the company, which is facing financial challenges that have led it to seek reorganization under Chapter 11. Under this chapter of the US Bankruptcy Code, Reliant Life Shares, LLC will work with its creditors and the court to develop a plan to return to profitability and become a viable business entity once again. Judge Martin R. Barash has been assigned to oversee the bankruptcy proceedings for Reliant Life Shares, LLC.
RELiant Life Shares, LLC has filed for bankruptcy, marking a significant turn for the company. According to court documents, the business operates under the Other Financial Investment Activities industry and is experiencing financial difficulties. The company's assets are valued within a range of $10 million to $50 million, while its liabilities also fall within this same range, indicating a significant amount of debt. The bankruptcy filing has attracted a substantial number of creditors, with estimates suggesting between 1,000 to 5,000 individuals and entities holding claims against the company. With this mounting financial burden, RELiant Life Shares, LLC is now seeking relief through restructuring or liquidation proceedings.
RELIANT LIFE SHARES, LLC indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.
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RELIANT LIFE SHARES, LLC Docket Header
DsclsDue, PlnDue, Incomplete |
Central District of California (San Fernando Valley)
Bankruptcy Petition #: 1:24-bk-11695-MB
Assigned to: Martin R. Barash Chapter 11 Voluntary Asset |
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| Debtor Reliant Life Shares, LLC C/O Force 10 Partners 5271 California Ave #270 Irvine, CA 92617 LOS ANGELES-CA Tax ID / EIN: 27-4898416 |
rep. by |
Kyra E Andrassy
Raines Feldman Littrell LLP 3200 Park Center Drive Ste 250 Costa Mesa, CA 92626 310-440-4100 Email: kandrassy @ raineslaw.com Hamid R Rafatjoo Raines Feldman Littrell LLP 1900 Avenue of the Stars Suite 1900 Los Angeles, CA 90067 310-440-4100 Email: hrafatjoo @ raineslaw.com |
| U.S. Trustee United States Trustee (SV) 915 Wilshire Blvd, Suite 1850 Los Angeles, CA 90017 (213) 894-6811 |
rep. by |
Russell Clementson
915 Wilshire Blvd., Suite 1850 Los Angeles, CA 90017 213-894-4505 Fax : 213-894-0276 Email: russell.clementson @ usdoj.gov |
| Creditor Committee Chair OFFICIAL COMMITTEE OF UNSECURED CREDITORS |
rep. by | Jeffrey I Golden
Golden Goodrich LLP 3070 Bristol Street Ste 640 Costa Mesa, CA 92626 714-966-1000 Email: jgolden @ go2.law |