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80-569: MGM-Pathé Communications was an American film production company that operated in Los Angeles County, California from 1990 to 1992. The company was founded and controlled by Italian financier Giancarlo Parretti through his purchase and merger of MGM/UA Communications Co. and Pathé Communications (unrelated to the French Pathé studio ). The company was overshadowed by Parretti's fraudulent schemes and he found himself ousted from

160-409: A bankruptcy discharge , whereas an individual may (see 11 U.S.C.   § 727(a)(1) ). Once all assets of the corporate or partnership debtor have been fully administered, the case is closed. The debts of the corporation or partnership theoretically continue to exist until applicable statutory periods of limitations expire. Individuals who reside, have a place of business, or own property in

240-482: A Chapter 7 bankruptcy case. However, BAPCPA limited the ability of debtors to avoid liens through bankruptcy. The definition of "household goods" was changed limiting "electronic equipment" to one radio, one television, one VCR, and one personal computer with related equipment. The definition now excludes works of art not created by the debtor or a relative of the debtor, jewelry worth more than $ 500 (except wedding rings), and motor vehicles (§522(f)(1)(B)). Prior to BAPCPA,

320-418: A Chapter 7 debtor does not complete the course, this constitutes grounds for denial of discharge pursuant to new §727(a)(11). The financial management program is experimental and the effectiveness of the program is to be studied for 18 months. Theoretically, if the educational courses prove to be ineffective, the requirement may disappear. BAPCPA attempted to eliminate the perceived "forum shopping" by changing

400-525: A bankruptcy attorney. On October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) went into effect. This legislation was the biggest reform to the bankruptcy laws since 1978. The legislation was enacted after years of lobbying efforts by banks and lending institutions and was intended to prevent abuses of the bankruptcy laws. The changes to Chapter 7 were extensive. The most noteworthy change brought by

480-403: A challenge to the debtor's Chapter 7 filing is whether the debtor can otherwise afford to repay some or all of his debts out of disposable income in the five year time frame provided by Chapter 13. If so, then the U.S. Trustee may succeed in preventing the debtor from receiving a discharge under Chapter 7, effectively forcing the debtor into Chapter 13. Some bankruptcy practitioners assert that

560-411: A debtor an opportunity to adjust income by documenting additional expenses or loss of income in situations caused by a medical condition or being called or order to active military service. However, the assumption of abuse is only rebutted where the additional expenses or adjustments for loss of income are significant enough to change the outcome of the means test. Otherwise, abuse is still presumed despite

640-585: A decrease due to net migration of 361,895 people. Immigration resulted in a net increase of 293,433 people, and migration from within the United States resulted in a net decrease of 655,328 people. The racial makeup of Los Angeles County was 4,936,599 (50%) White, 1,346,865 (13.7%) Asian, 856,874 (9%) African American, 72,828 (0.7%) Native American, 26,094 (0.3%) Pacific Islander, 2,140,632 (21.8%) from other races, and 438,713 (4.5%) from two or more races. Non-Hispanic whites numbered 2,728,321, or 28% of

720-470: A homestead can not be exempted. The only exception is if the value was transferred from another homestead within the same state or if the homestead is the principal residence of a family farmer (§522(p)). This "cap" would apply in situations where a debtor has purchased a new homestead in a different state, or where the debtor has increased the value to his or her homestead (presumably through a remodeling or addition). Some types of liens may be avoided through

800-406: A large cluster of government buildings in the city's Civic Center. Historically, the courthouses were county-owned buildings that were maintained at county expense, which created significant friction since the trial court judges, as officials of the state government, had to lobby the county Board of Supervisors for facility renovations and upgrades. In turn, the state judiciary successfully persuaded

880-400: A median income of $ 36,299 versus $ 30,981 for females. The per capita income for the county was $ 20,683. There are 14.4% of families living below the poverty line and 17.9% of the population, including 24.2% of under 18 and 10.5% of those over 64. Los Angeles County has the highest number of millionaires of any county in the nation, totaling 261,081 households as of 2007. The homeownership rate

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960-512: A presumption of abuse is found under the means test, it may only be rebutted in the case of "special circumstances." Debtors whose income is below the state's median income are not subject to the means test. Under this test, any debtor with more than $ 182.50 in monthly disposable income, under the formula, would face a presumption of abuse. Notably, the Code-calculated income is based on the prior six months and may be higher or lower than

1040-516: A single county. As a result, both the county superior court and the federal district court are respectively the busiest courts of their type in the nation. Many celebrities have been seen in Los Angeles courts. In 2003, the television show Extra (based in nearby Glendale ) found itself running so many reports on the legal problems of local celebrities that it spun them off into a separate show, Celebrity Justice . State cases are appealed to

1120-714: A subsidiary, and converted its name back to Metro-Goldwyn-Mayer . To no avail, Parretti had demanded that the MGM executive committee sell off certain assets in order to pay down the loan to Crédit Lyonnais so that he could regain control, but the committee declined due to concerns over the price adequacy of the portions of the company Parretti wished sold. On July 26, 1993, Crédit Lyonnais replaced Ladd as CEO by bringing in former Paramount Pictures executive Frank Mancuso Sr. Mancuso then brought in Michael Marcus to head MGM and former Warner Bros. executive John Calley as head of

1200-419: A total area of 4,083 square miles (10,570 km ), it is home to more than a quarter of Californians and is one of the most ethnically diverse U.S. counties. The county's seat , Los Angeles , is the second most populous city in the United States , with 3,822,238 residents estimated in 2022. The county has been world-renowned as the domicile of the U.S. motion picture industry since the latter's inception in

1280-574: Is 365,000 workers. Despite a business exodus from Downtown Los Angeles since the COVID-19 pandemic , the city's urban core is evolving as a cultural center with the world's largest showcase of architecture designed by Frank Gehry . The following major companies have headquarters in Los Angeles County: The Los Angeles County Office of Education provides a supporting role for school districts in

1360-400: Is 47.9%, and the median value for houses is $ 409,300. 42.2% of housing units are in multi-unit structures. Los Angeles County has the largest number of homeless people , with "48,000 people living on the streets, including 6,000 veterans ," in 2010. As of 2017 the number of homeless people in the county increased to nearly 58,000. In 2015, there were over two thousand Christian churches ,

1440-663: Is a state-mandated county transportation commission that also operates bus and rail. In the United States House of Representatives , Los Angeles County is split between 17 congressional districts. In the California State Senate , Los Angeles County is split between 13 legislative districts. In the California State Assembly , Los Angeles County is split between 24 legislative districts. On November 4, 2008, Los Angeles County

1520-452: Is already extremely low. Also, new credit extended post-petition is not covered by the discharge, so creditors may offer new credit to the newly-bankrupt. Official Federal bankruptcy forms are prescribed in the relevant Rules, and are a computer based equivalent option of paper forms. Software can also be used, which generates court-ready forms and is more simple for users. Bankruptcy petition preparers can aid in completing applications, as can

1600-491: Is home to the largest Armenian population outside of Armenia. Los Angeles County contains the largest Iranian population outside of Iran of any other county or county equivalent globally. At the 2000 census, there were 9,519,338 people, 3,133,774 households, and 2,137,233 families in the county. The population density was 2,344 inhabitants per square mile (905/km ). There were 3,270,909 housing units at an average density of 806 units per square mile (311 units/km ). Of

1680-431: Is managed on a day-to-day basis by a chief executive officer and is organized into many departments, each of which is enormous in comparison to equivalent county-level (and even many state-level) departments anywhere else in the United States. Some of the larger or better-known departments include: The Los Angeles County Metropolitan Transportation Authority , despite its name, is not a County department. Technically it

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1760-472: Is more arts-centered. Santa Monica's pier is a well known tourist spot, famous for its Ferris wheel and bumper car rides, which were featured in the introductory segment of the television sitcom Three's Company . Further north in Pacific Palisades one finds the beaches used in the television series Baywatch . The fabled Malibu , home of many film and television stars, lies west of it. In

1840-399: Is rainfall mostly in the wintertime, but the mountains in the north-central part of the county have snow during winter. In 2019, the median household income in the county was $ 72,797. Los Angeles County had a population of 9,818,605 in the 2010 United States Census . This includes a natural increase since the last census of 583,364 people (i.e., 1,152,564 births minus 569,200 deaths) and

1920-511: Is the U.S. Supreme Court in Washington, D.C. The following table includes the number of incidents reported and the rate per 1,000 persons for each type of offense. Crime in 2013 According to the authors of Wild L.A. , a book about urban biodiversity, "Los Angeles is the birdiest county in the country with over 500 recorded species." L.A.'s amenable climate supports a large number of introduced, tropical and migratory species. Because of

2000-644: Is the largest diocese in the United States. In 2014, the county had 3,275 religious organizations, the most out of all US counties. The Government of Los Angeles County is defined and authorized under the California Constitution , California law and the Charter of the County of Los Angeles. Much of the Government of California is in practice the responsibility of local governments such as

2080-464: Is unable to pay creditors, the business may file (or be compelled by creditors to file) for bankruptcy in a federal court under Chapter 7, which means that the business ceases operations unless those operations are continued by the Chapter 7 trustee. In a Chapter 7 bankruptcy, the trustee is appointed almost immediately, with broad powers to examine the finances of the business in bankruptcy; generally,

2160-720: The La Brea Tar Pits , the Arboretum of Los Angeles , and two horse racetracks and two car racetracks ( Pomona Raceway and Irwindale Speedway ), also the RMS ; Queen Mary located in Long Beach, and the Long Beach Grand Prix , and miles of beaches—from Zuma to Cabrillo. Venice Beach is a popular attraction whose Muscle Beach used to attract throngs of tourists admiring "hardbodies". Today, it

2240-756: The Los Angeles Basin , San Fernando Valley , and San Gabriel Valley . Other population centers are found in the Santa Clarita Valley , Pomona Valley , Crescenta Valley and Antelope Valley . The county is divided west-to-east by the San Gabriel Mountains , which are part of the Transverse Ranges of southern California, and are contained mostly within the Angeles National Forest . Most of

2320-710: The San Emigdio Mountains , the southernmost part of Tehachapi Mountains and the Sierra Pelona Mountains . Los Angeles County includes San Clemente Island and Santa Catalina Island , which are part of the Channel Islands archipelago off the Pacific Coast . The Northern part of the county has a Desert climate , while the rest of the county generally is a mix of Semi-arid and a hot-summer Mediterranean climate . There

2400-813: The San Gabriel River and the Santa Clara River flow in Los Angeles County, while the primary mountain ranges are the Santa Monica Mountains and the San Gabriel Mountains . The western extent of the Mojave Desert begins in the Antelope Valley , in the northeastern part of the county. Most of the population of Los Angeles County resides in the south and southwest, with major population centers in

2480-598: The "special circumstances." Another major change to the law enacted by BAPCPA deals with eligibility. §109(h) provides that a debtor will no longer be eligible to file under either Chapter 7 or Chapter 13 unless within 180 days prior to filing, the debtor received an "individual or group briefing" from a nonprofit budget and credit counseling agency approved by the United States trustee or bankruptcy administrator. The new legislation also requires that all individual debtors in either Chapter 7 or Chapter 13 complete an "instructional course concerning personal financial management." If

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2560-467: The 1870s, Los Angeles County was divided into townships (many of which were amalgamations of one or more old ranchos ): As shown by the map below, Los Angeles County is bordered on the north by Kern County , on the east by San Bernardino County , on the southeast by Orange County , on the south by the Pacific Ocean , and on the west by Ventura County . According to the U.S. Census Bureau ,

2640-487: The 2005 BAPCPA amendments occurred within. The amendments effectively subject most debtors who have an income, as calculated by the Code, above the debtor's state census median income to a 60-month disposable income based test. This test is referred to as the " means test ". The means test provides for a finding of abuse if the debtor's disposable monthly income is higher than a specified floor amount or portion of their debts. If

2720-496: The 3,133,774 households 37% had children under the age of 18 living with them, 48% were married couples living together, 15% had a female householder with no husband present, and 32% were non-families. 25% of households were one person and 7% were one person aged 65 or older. The average household size was 2.98 and the average family size was 3.61. The age distribution was 28% under the age of 18, 10% from 18 to 24, 33% from 25 to 44, 19% from 45 to 64, and 10% 65 or older. The median age

2800-993: The Court of Appeal for the Second Appellate District, which is also headquartered in the Civic Center , and then to the California Supreme Court , which is headquartered in San Francisco but also hears argument in Los Angeles (again, in the Civic Center). Federal cases are appealed to the Court of Appeals for the Ninth Circuit , which hears them at its branch building in Pasadena . The court of last resort for federal cases

2880-458: The Government of Los Angeles County. The county's voters elect a governing five-member Los Angeles County Board of Supervisors . The small size of the board means each supervisor represents over 2 million people. The board operates in a legislative, executive, and quasi-judicial capacity. As a legislative authority, it can pass ordinances for the unincorporated areas (ordinances that affect

2960-700: The Greater Los Angeles Area. LAX is operated by Los Angeles World Airports (LAWA), an agency of the City of Los Angeles. Other important commercial airports in Los Angeles County include: The following general aviation airports also are located in Los Angeles County: The U.S. Air Force operates three airports in Los Angeles County: Chapter 7 bankruptcy When a financially troubled business

3040-564: The MGM film archives to more than 5,000 titles at that time. Los Angeles County, California Los Angeles County , officially the County of Los Angeles and sometimes abbreviated as L.A. County , is the most populous county in the United States , with 9,861,224 residents estimated in 2022. Its population is greater than that of 40 individual U.S. states . Comprising 88 incorporated cities and many unincorporated areas within

3120-708: The Qintex deal fell through, Parretti brokered a deal to make the purchase for $ 1.2 billion, but questions were raised over Parretti's financial acumen. Parretti gained interest from Time Warner chairman Steve Ross ; the company forwarded $ 125 million to the MGM/UA purchase in exchange for exclusive home video distribution rights to the studio's product. Turner Broadcasting System advanced Parretti $ 200 million for domestic television rights. Parretti also made deals with Fininvest , Sasea (a holding firm controlled by Parretti's business partner Florio Fiorini), and Reteitalia to fund

3200-449: The U.S. Bankruptcy Code that include, along with many other reforms, language imposing a means test for Chapter 7 cases. Creditworthiness and the likelihood of receiving a Chapter 7 discharge are some of the issues to be considered in determining whether to file bankruptcy. The effect of bankruptcy on creditworthiness in many cases might not be significant, because by the time many debtors are ready to file for bankruptcy, their credit score

3280-463: The U.S. Trustee has become more aggressive in recent times in pursuing (what the U.S. Trustee believes to be) abusive Chapter 7 filings. Through these activities the U.S. Trustee has achieved a regulatory system that Congress and most creditor-friendly commenters have consistently espoused, i.e., a formal means test for Chapter 7. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 has clarified this area of concern by making changes to

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3360-614: The United States may file for bankruptcy in a federal court under Chapter 7 ("straight bankruptcy", or liquidation). Chapter 7, as with other bankruptcy chapters, is not available to individuals who have had bankruptcy cases dismissed within the prior 180 days under specified circumstances. In a Chapter 7 bankruptcy, the individual is allowed to keep certain exempt property . Most liens , however (such as real estate mortgages and security interests for car loans), survive. The value of property that can be claimed as exempt varies from state to state. Other assets, if any, are sold ( liquidated ) by

3440-748: The acquisition (it was later uncovered most of the deals came with certain conditions attached to them, or else were in fact fake deals used to cover money loaned under the table to Parretti from Crédit Lyonnais , his primary banking partner and whose involvement with Parretti's shady activities ran deep). He ultimately received backing from the Dutch branch of Crédit Lyonnais to complete the MGM/UA purchase. He then merged it with his Pathé Communications Group, to form MGM-Pathe Communications Co. in November 1990. Once Parretti took control, he laid off most of

3520-715: The area. The county office also operates two magnet schools, the International Polytechnic High School and Los Angeles County High School for the Arts . There are a number of private schools in the county, most notably those operated by the Roman Catholic Archdiocese . The county's public education sector is run by numerous school districts with the Los Angeles Unified School District being

3600-502: The bankruptcy, which tends to improve creditworthiness. Consumer credit and creditworthiness is a complex subject, however. Future ability to obtain credit is dependent on multiple factors and difficult to predict. Another aspect to consider is whether the debtor can avoid a challenge by the United States Trustee to his or her Chapter 7 filing as abusive . One factor in considering whether the U.S. Trustee can prevail in

3680-564: The buyout. This included international broadcasting rights to the 007 library at cut-rate prices, leading Danjaq to sue, alleging the licensing violated the Bond distribution agreements the company made with United Artists in 1962, while denying Danjaq a share of the profits. Ladd, a former President of MGM/UA, was then brought on board as CEO of MGM in April 1991, and James Kanter as chief operating officer . The new change in management helped save

3760-436: The company's film library and Culver City lot and film processing labs (entities which had been earlier sold by Ted Turner to Lorimar ). In 1989, Kerkorian agreed to sell his MGM/UA interests to Australian broadcasting company Qintex after they tendered an offer of $ 1.5 billion deal to beat out Rupert Murdoch . However, when Qintex was unable to provide a $ 50 million letter of credit the deal collapsed. Five months after

3840-437: The county are considered ecologically significant indicators of ecosystem health and may be documented using the iNaturalist app. Los Angeles County is commonly associated with the entertainment and digital media industry; all five major film studios — Paramount Pictures , Sony Pictures , Warner Bros. , Universal Pictures , and Walt Disney Studios —are located within the county. Numerous other major industries also define

3920-402: The county has an area of 4,751 square miles (12,310 km ), of which 4,058 square miles (10,510 km ) (85%) is land and 693 square miles (1,790 km ) (15%) is water. Los Angeles County borders 70 miles (110 km) of coast on the Pacific Ocean and encompasses mountain ranges, valleys, forests, islands, lakes, rivers, and desert. The Los Angeles River , Rio Hondo , Ballona Creek ,

4000-532: The county is 48.7% White, 11.0% African American, 0.8% Native American, 10.0% Asian, 0.3% Pacific Islander, 23.5% from other races, and 4.9% from two or more races. 44.6% of the population are Hispanic or Latino of any race. The largest European-American ancestry groups are German (6%), Irish (5%), English (4%) and Italian (3%). 45.9% of the population reported speaking only English at home; 37.9% spoke Spanish, 2.22% Tagalog , 2.0% Chinese, 1.9% Korean , 1.87% Armenian , 0.5% Arabic , and 0.2% Hindi . The county has

4080-548: The county's highest peaks are in the San Gabriel Mountains, including Mount San Antonio 10,068 feet (3,069 m) at the Los Angeles– San Bernardino county lines, Mount Baden-Powell 9,399 feet (2,865 m), Mount Burnham 8,997 feet (2,742 m) and Mount Wilson 5,710 feet (1,740 m). Several lower mountains are in the northern, western, and southwestern parts of the county, including

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4160-409: The county's wide range of biomes it is possible to see desert bighorn sheep and green sea turtles in the same day, without crossing the county line. The range of habitats in the county is "greater than in many states, with mountains, wetlands, desert, ocean, meadows and chaparral, each with its own endemic species." There are at least 100 species of trees, and 1000 species of non-native plants, in

4240-404: The date of filing the Chapter 7 petition. This contrasts with a Chapter 13 bankruptcy, which stays on an individual's credit report for seven years from the date of filing the Chapter 13 petition. This may make credit less available or may make lending terms less favorable, although high debt can have the same effect. That must be balanced against the removal of actual debt from the filer's record by

4320-447: The debtor can choose the federal exemptions. BAPCPA also "capped" the amount of a homestead exemption that a debtor can claim in bankruptcy, despite state exemption statutes. Also, there is a "cap" placed upon the homestead exemption in situations where the debtor, within 1,215 days (about 3 years and 4 months) preceding the bankruptcy case, added value to a homestead. The provision provides that "any value in excess of $ 125,000" added to

4400-490: The debtor's actual current income at the time of filing for bankruptcy. This has led some commentators to refer to the bankruptcy code's "current monthly income" as "presumed income". If the debtor's debt is not primarily consumer debt, then the means test is inapplicable. The inapplicability to non-consumer debt allows business debtors to "abuse" credit without repercussion unless the court finds "cause." "Special circumstances" does not confer judicial discretion; rather, it gives

4480-424: The dischargeability of the student loan), and fines and restitution imposed by a court for any crimes committed by the debtor. Spousal support is likewise not covered by a bankruptcy filing, nor are property settlements through divorce. Despite their potential non-dischargeability, all debts must be listed on bankruptcy schedules. A Chapter 7 bankruptcy stays on an individual's credit report for ten years from

4560-527: The early 20th century. Los Angeles County is one of the original counties of California , created at the time of statehood in 1850. The county originally included parts of what are now Kern , San Bernardino , Riverside , Inyo , Tulare , Ventura , and Orange counties. In 1851 and 1852, Los Angeles County stretched from the coast to the state line of Nevada . As the population increased, sections were split off to organize San Bernardino County in 1853, Kern County in 1866, and Orange County in 1889. Before

4640-522: The eastern Antelope Valley – California State Parks' largest in area within the county. The California Poppy Reserve is located in the western Antelope Valley and shows off the State's flower in great quantity on its rolling hills every spring. Los Angeles International Airport (LAX), located in the Westchester district, is the primary commercial airport for commercial airlines in the county and

4720-480: The economy of Los Angeles County, including international trade supported by the Port of Los Angeles and the Port of Long Beach , music recording and production, aerospace and defense, fashion, and professional services such as law, medicine, engineering and design services, financial services. High-tech sector employment within Los Angeles County is 368,500 workers, and manufacturing employment within Los Angeles County

4800-464: The financial staff and offered a major financial role to his daughter Valentina. Soon enough, chaos reigned at MGM. A check to Dustin Hoffman bounced. The opening of Thelma & Louise was delayed due to lack of funds. The studio owed a line of credit to Sean Connery that wasn't paid. Also the studio withdrew financing from the project of the ninth Pink Panther film and Blake Edwards sued

4880-560: The largest Native American population of any county in the nation: according to the 2000 census, it has more than 153,550 people of indigenous descent, and most are from Latin America . As estimated by the Public Policy Institute of California in 2008, Los Angeles County is home to more than one-third of California's undocumented immigrants , who make up more than ten percent of the population. Los Angeles County

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4960-761: The largest one running public schools primarily within the city of Los Angeles and its immediately neighboring cities. The county's most visited park is Griffith Park , owned by the city of Los Angeles. The county is also known for the annual Rose Parade in Pasadena, the annual Los Angeles County Fair in Pomona, the Los Angeles County Museum of Art , the Los Angeles Zoo , the Natural History Museum of Los Angeles County ,

5040-434: The majority of which are Catholic. Roman Catholic adherents number close to 40% of the population. There were 202 Jewish synagogues , 145 Buddhist temples, 38 Muslim mosques , 44 Baháʼí Faith worship centers, 37 Hindu temples , 28 Tenrikyo churches and fellowships, 16 Shinto worship centers, and 14 Sikh gurdwaras in the county. The Roman Catholic Archdiocese of Los Angeles has approximately 5 million members and

5120-508: The mountain, canyon, and desert areas one may find Vasquez Rocks Natural Area Park , where many old Westerns were filmed. Mount Wilson Observatory in the San Gabriel Mountains is open for the public to view astronomical stars from its telescope, now computer-assisted. Many county residents find relaxation in water skiing and swimming at Castaic Lake Recreation Area – the county's largest park by area – as well as enjoying natural surroundings and starry nights at Saddleback Butte State Park in

5200-450: The new United Artists. As part of his exit package Ladd took some of the top properties, including Braveheart . After the split, Pathé revived, but MGM / UA CI did not. The company remained under control of Crédit Lyonnais Bank until 1996, when it was repurchased by an investment group led by Kirk Kerkorian, who in 1997 also purchased Orion Pictures , thus obtaining rights to 1,900 film titles and 3,000 television episodes and bringing

5280-617: The population. Hispanic or Latino residents of any race numbered 4,687,889 (48%); 36% of Los Angeles County's population was of Mexican ancestry, 3.7% Salvadoran, and 2.2% Guatemalan heritage. The county has a large population of Asian Americans , being home to the largest numbers of Burmese , Cambodian , Chinese , Filipino , Indonesian , Korean , Sri Lankan , Taiwanese , and Thai outside their respective countries. The largest Asian groups in Los Angeles County are 4.0% Chinese, 3.3% Filipino, 2.2% Korean, 1.0% Japanese, 0.9% Vietnamese, 0.8% Indian, and 0.3% Cambodian. The racial makeup of

5360-411: The rules on claiming exemptions. Under BAPCPA, a debtor who has moved from one state to another within two years of filing (730 days) the bankruptcy case must use exemptions from the place of the debtor's domicile for the majority of the 180-day period preceding the two years (730 days) before the filing §522(b)(3). If the new residency requirement would render the debtor ineligible for any exemption, then

5440-423: The state Legislature to authorize the transfer of all courthouses to the state government in 2008 and 2009 (so that judges would have direct control over their own courthouses). Courthouse security is still provided by the county government under a contract with the state. Unlike the largest city in the United States, New York City , all of the city of Los Angeles and most of its important suburbs are located within

5520-435: The studio from involuntary bankruptcy. Soon after, Ladd and Parretti began engaging in a bitter power struggle. When it became apparent that Parretti was making plans to regain MGM, Crédit Lyonnais seized control of the studio on June 17, 1991. Parretti faced securities fraud charges in the United States and Europe. On the verge of bankruptcy and failure, Crédit Lyonnais foreclosed in 1992, assigned control of MGM - Pathé to

5600-525: The studio in less than a year. On January 30, 1989, Parretti founded Pathé Entertainment (or Pathé Communications) after purchasing Cannon Films . Pathé Entertainment was named after the similarly named French studio that Parretti anticipated to purchase. When Parretti had announced his intent to make the purchase, the French government scuttled Parretti's initial bid to buy Pathé due to concerns about his character, background, and past dealings. Alan Ladd Jr.

5680-504: The studio in the Los Angeles County Superior Court . When Alan Ladd, Jr. came aboard, MGM settled out of court with Edwards and Ladd greenlit the film. There were also reports of unpaid laboratory bills, unpaid creditors, and rather eccentric behavior from Parretti. In March 1991, MGM clients took a complaint to Los Angeles lawyer Stephen Chrystie, claiming that they were owed money ($ 18 million total) that

5760-508: The studio refused to pay. In turn, Chrystie took this issue up to the U.S. Bankruptcy Court . As it turned out, the studio's situation was dire that Chapter 7 bankruptcy was considered. Crédit Lyonnais refused to lend money to MGM any further unless the studio ousted Parretti from his position. Parretti intended to sell off the James Bond 's films distribution rights of the studio's catalogue so he could collect advance payments to finance

5840-478: The trustee sells the assets and distributes the money to the creditors. The investors who took the least amount of risk prior to the bankruptcy are generally paid first. For example, secured creditors will have taken less risk, because the credit that they will have extended is usually backed by collateral , such as assets of the debtor company. Fully secured creditors —that is, creditors, such as collateralized bondholders and mortgage lenders, for whom

5920-414: The trustee to repay creditors. Many types of unsecured debt are legally discharged by the bankruptcy proceeding, but there are various types of debt that are not discharged in a Chapter 7. Common exceptions to discharge include child support , income taxes less than three years old, property taxes , student loans (unless the debtor prevails in a difficult-to-win adversary proceeding brought to determine

6000-1022: The urban areas of the county. Charismatic biodiversity indicator species native to the area include three species of amphibian ( Baja California chorus frog , black-bellied slender salamander , western toad ), 14 species of bird ( acorn woodpecker , California quail , canyon wren , cinnamon teal , great blue heron , great horned owl , greater roadrunner , hooded merganser , Northern harrier , red-tailed hawk , red-winged blackbird , spotted towhee , western bluebird , western meadowlark ), nine kinds of invertebrates ( Behr's metalmark , bramble green hairstreak , bumblebees , El Segundo blue butterfly , harvester ants , Lorquin's admiral , North American Jerusalem crickets , Sara orangetip , velvet ants ), five mammals ( bobcat , dusky footed woodrat , gray fox , mountain lion , mule deer ), and six reptiles ( California kingsnake , coachwhip snake , gopher snake , side-blotched lizard , western pond turtle , western rattlesnake ). Any observations of these species within

6080-429: The value of collateral equals or exceeds the amount of debt outstanding—have a legally enforceable right to the collateral securing their loans or to the equivalent value, a right that generally cannot be defeated by bankruptcy. They are therefore not entitled to participate in any distribution of liquidated assets that the bankruptcy trustee might make. In a Chapter 7 case, a corporation or partnership does not receive

6160-510: The whole county, like posting of restaurant ratings, must be ratified by the individual city). As an executive body, it can tell the county departments what to do, and how to do it. As a quasi-judicial body, the Board is the final venue of appeal in the local planning process, and holds public hearings on various agenda items. As of 2020, the Board of Supervisors oversees a $ 35.5 billion annual budget and over 112,000 employees. The county government

6240-466: Was 32 years. For every 100 females, there were 97.7 males. For every 100 females age 18 and over, there were 95.0 males. The median personal earnings for all workers 16 and older in Los Angeles County are $ 30,654, slightly below the US median; earnings, however vary widely by neighborhood, race and ethnicity, and gender. The median household income was $ 42,189 and the median family income was $ 46,452. Males had

6320-568: Was almost evenly split over Proposition 8 , which amended the California Constitution to ban same-sex marriages. The county voted for the amendment 50.04% with a margin of 2,385 votes. The Los Angeles County Superior Court is the county's court of general jurisdiction, while the U.S. District Court for the Central District of California may hear cases where federal jurisdiction is present. Both are headquartered in

6400-416: Was appointed as chairman and CEO of Pathé Entertainment. After bids by Parretti to acquire New World Pictures and Kings Road Entertainment went nowhere, Parretti set his sights on purchasing MGM/UA. In the mid-1980s, American businessman Kirk Kerkorian sold portions of MGM / UA to Ted Turner 's Turner Broadcasting System . In 1985–86, Kerkorian repurchased United Artists and then MGM , but without

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