Creditors' Rights, Out-of-Court Workouts & Commercial Litigation
The attorneys of Stites & Harbison’s Creditors' Rights & Bankruptcy Service Group advise and represent clients in workout negotiations, default and foreclosure and actions in state courts, and in contested matters and adversary proceedings arising under Chapters 7, 11, 12 and 13 of the United States Bankruptcy Code. We also handle creditor defense and bankruptcy litigation.
Our experience includes:
- Financial institution representation
- Creditor defense and bankruptcy litigation
- Work for secured creditors, trade and other unsecured creditors, landlords, insurance companies, equipment lessors, creditors' committees, indenture trustees, liquidating trustees and preference- and fraudulent-conveyance defendants
Members of the Creditors' Rights & Bankruptcy Service Group regularly partner with members of other Stites & Harbison practice groups including Environmental and Natural Resources, Intellectual Property, Construction, Real Estate and Banking, and Health Care to negotiate and litigate complex issues in United States Bankruptcy Courts from coast to coast.
Representative Matters:
- Represented the D-I-P lender and successful purchaser in the Chapter 11 bankruptcy of a hospital.
- Successfully negotiated an 11 U.S.C. Section 363 sale of all of the hospital's assets to the client within 90 days of the petition.
- Handled two foreclosures of entire subdivision developments in Southern Indiana.
- Representing a hedge fund, obtained a favorable judgment against the guarantor to recover fraudulent transfer.
- Representing a title insurance company in litigation brought by Chapter 11 debtor's mortgage warehouse lender.
- Seeking judgment and possession of Limobus in Jefferson County, Kentucky.
The Tennessee COVID-19 Recovery Act
On August 12, 2020, the Tennessee General Assembly passed the COVID-19 Recovery Act (the “Act”), which was enacted into law by Governor Bill Lee’s signature on August 17, 2020.
Chrisandrea Turner Named to 2020 Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers
LEXINGTON, Ky.—Lawdragon has named Stites & Harbison, PLLC attorney Chrisandrea Turner to its inaugural 2020 Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers. Turner is one of only seven Kentucky attorneys honored.
Aaron Klein Selected for Membership in Louis D. Brandeis American Inn of Court
The Louis D. Brandeis American Inn of Court recently selected Stites & Harbison, PLLC attorney Aaron Klein as an Associate member.
Creditors Take Notice: Changes to House Bills 155 and 411
Two recent bills were signed into law following the 2020 Regular Session of the Kentucky Assembly which impact creditors. House Bill 155 and House Bill 411.
Main Street Loan Program
Recently, the Federal Reserve initiated a new commercial lending facility that has been promised for months, the Main Street Lending Program (“MSLP”), consisting of three new loan facilities: the New Loan Facility, Expanded Loan Facility and Priority Loan Facility.
Chambers USA 2020 Honors 19 Stites & Harbison Attorneys
LOUISVILLE, Ky.—Chambers USA selected 19 Stites & Harbison, PLLC attorneys in Kentucky and Tennessee for inclusion in their 2020 guide.
Brian Bennett Appointed to Greater Louisville March of Dimes Board
LOUISVILLE, Ky.—The Greater Louisville Market of the March of Dimes has appointed Stites & Harbison, PLLC attorney Brian Bennett to its Board of Directors.
Mid-South Commercial Law Institute Elects Erika Barnes to its Board of Directors
NASHVILLE, Tenn.—The Mid-South Commercial Law Institute (MSCLI) recently elected Stites & Harbison, PLLC attorney Erika Barnes as a director of its 25-member Board of Directors.
Stites & Harbison elects three attorneys to Management Committee
LOUISVILLE, Ky.—Stites & Harbison, PLLC recently elected three members to the firm’s six-member Management Committee, replacing three attorneys who completed their terms of service. The new committee members are attorneys Erika Barnes, Carol Dan Browning and Richard Wehrle.
New Bankruptcy Law May Increase Small Business Filings
On Wednesday, February 19, 2020, the Small Business Reorganization Act of 2019 creating a new Subchapter V for small-business debtors (less than $2,725,625 in debt) becomes effective. The purpose of this act is to eliminate some of the costly elements of a business bankruptcy reorganization and streamline the procedures.
Enforcers of Security Interests in Nonjudicial Foreclosure Proceedings Are Not Subject to Many Provisions of the Fair Debt Collection Practices Act
In March 2019, the U.S. Supreme Court issued a narrow holding that debt collectors enforcing security interests in nonjudicial proceedings are subject to only one section (Section 1692f(6)) of the Fair Debt Collection Practices Act (FDCPA).
Denial Of Stay Relief “Forms A Discrete Procedural Unit” That Must Be Immediately Appealed
On January 14, 2020, in a 9-0 ruling, the United States Supreme Court held that a creditor’s failure to appeal a stay relief denial within 14 days of the order’s entry renders the appeal untimely under 28 U.S.C. § 158(c)(2) and Fed. R. Bankr. P. 8002(a).
Stites & Harbison Promotes Six Attorneys
LOUISVILLE, Ky.—Stites & Harbison, PLLC announced that six attorneys have been promoted within the law firm effective January 2020.
Into the Weeds of the USDA Hemp Regulations
The long-awaited hemp industry regulations have finally (mostly) dropped. At the end of October, the United States Department of Agriculture (“USDA”) finally issued its Interim Final Rule implementing the hemp-related provisions of the Agriculture Improvement Act of 2018 (“the 2018 Farm Bill”).