Attorney John Smaha Announces Completion Of Pacific Beach Bar and Grill Reorganization

SAN DIEGO, CA / ACCESSWIRE / April 20, 2015 / Attorney John Smaha, via the Smaha Law Group, is excited to announce the completion of Pacific Beach Bar and Grill reorganization and successful emergent from Chapter 11 protection. Smaha Law Group, confirmed the new reoganization plan allows the operating entity to produce $7,350,000 through the reorganization and sale of the stock of the company and the underlying land, that concluded on April 17, 2015, from a related entity to pay creditors and provide distributions to shareholders. The reorganization removed significant IRS liens and garnishments and opened the way for new investors to completely renovate the building.

Additionally, the reorganization returns the property to a state fit for a premier restaurant/bar, nightclub venue in the Pacific Beach area. 

Pacific Beach Bar and Grill Investors, Mike Cirillo and Eric Lingenfelder of Verant Group and David Cohen became the new investment team. They are the parties responsible for such top San Diego establishments such as Barleymash and others. They are working in conjunction with Bluemotif Architecture and plan to return the restaurant/bar/nightclub to a level of prominence in the Pacific Beach area for years to come.

It is with great pride that the Smaha Law Group has helped save this iconic property from legal problems and to also keep such a local source of revenue within the community. The Smaha Law Group is located in Old Town San Diego and provides full-service legal help and assistance for Commercial Entities, Individuals, and Financially Troubled Individuals.

In a statement, John Smaha stated, “it takes a great deal of experience to guide a company through Chapter 11. With 30 years of experience, the Smaha Law Group has the experience and skill to help companies through the technical and difficult Chapter 11 process. The best time to deal with financial issues is when those issues first arise. Many businesses and individuals wait until it is too late to act. The Pacific Beach Bar and Grill is an excellent example of how skill and knowledge can intervene, even at the last second, and still produce viable and positive results”, said John Smaha. The Smaha Law Group has been in business for over 30 years and was opened by founder John Smaha. Mr. Smaha understands the legal skill to achieve near impossible results such as those exhibited by the Pacific Beach Bar and Grill’s reorganization. 

info@smaha.com
2398 San Diego Avenue
San Diego, CA 92110
Telephone: 619-688-1557

SOURCE: Smaha Law Group 

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