Appellate Counsel to Kentucky Bankers Association on Issue of State Agency’s Statutory and Regulatory Authority
Represented nominal party on behalf of interests of Kentucky Bankers Association before Kentucky Supreme Court regarding scope of authority of Kentucky Department of Financial Institutions to grant geographic charters to state credit unions.
Members Choice Credit Union v. Home Federal Savings & Loan Association, 323 S.W.3d 658 (Ky. 2010). Click HERE to view the decision.
Client is paid after golf course files Chapter 11 Bankruptcy
A golf course filed a Chapter 11 Bankruptcy. Our client, a financial institution, had liens on all of the debtor’s assets. We fiercely litigated over whether the automatic stay should be modified so the bank could either start receiving monthly payments or foreclose on the property. Through litigation and negotiation, we were able to obtain a resolution which paid off the loan and benefitted our client.
Bankruptcy workout resolution allows client to be paid 100%
We were able to negotiate a settlement of a multi-faceted bankruptcy that allowed the borrower to get out of bankruptcy. The deal also turned non-performing loans into performing ones. This allowed our client, a financial institution, to be paid 100% on the loans over a mutually agreed upon period of time.
Liens on partially developed subdivision lead to reduction in client’s loss
Our client, a financial institution, had liens on a very partially developed subdivision. Most of the land was hilly with little access. There were significant disagreements about the valuation of the property, and there were two guarantors. Through creative problem solving and negotiations with the gurantors and debtor, we were able to negotiate the best possible result for our client, which reduced their potential loss by 60%.
Collection matter turns into criminal case due to our discovery work
In the course of enforcing a judgment from another state for our client, a motor sports company, we discovered hidden assets of the defendant. The discovery forced the defendant into bankruptcy, and we successfully objected to dischargability of the debts due to fraud. We established the defendant had obtained funds for race cars and racing purposes but had used the money for everything but the intended purposes. We also were able to uncover and recover a race car, and we worked with government investigators prosecuting the defendant. As a result, we were able to creatively achieve our client’s goals.
Creative discovery and defenses achieve successful settlement for client
Our client, a mining goods manufacturer, was sued for significant alleged preferential transfers. We defended the preference action using creative discovery and legal research to craft numerous defenses, which helped achieve a favorable settlement.