Complex sentence: The label was founded by Michael Gilligan in 1996 under the name "Chapter 11 Records" but renamed in 1998 to "Fake Chapter 11 Records" and then to "Fake Chapter Records" because of a naming conflict with a record label in California.
Split into simpler sentences: The label was founded by Michael Gilligan in 1996 under the name "Chapter 11 Records". It was renamed in 1998 first to "Fake Chapter 11 Records" and then to "Fake Chapter Records" because of a naming conflict with a record label in California.