November 2011
Tracey Porter Attends Seminar on Foreclosures and Loan Workout Procedures
Tracey Porter attended a National Business Institute seminar on foreclosures and loan workout procedures. The seminar focused on the foreclosure process, including debtors' rights and the recent problems banks have faced during foreclosure proceedings. The seminar also discussed various aspects of short sales and other options debtors have when unable to make monthly mortgage payments. Finally, the seminar included information on loan workout procedures, including negotiating and entering into forbearance agreements. A portion of Ms. Porter's practice is dedicated to helping debtors negotiate with banks when they are faced with the inability to make mortgage payments and possible foreclosure.
November 2011
Joe Grekin and Tracey Porter Obtain Preliminary Injunction
Joe Grekin and Tracey Porter successfully obtained a preliminary injunction enjoining a business partner from entering the premises of a local company and forbidding him from participating in the day-to-day management of the business after demonstrating that the business partner is unlawfully taking money from the company, forging checks and disrupting the everyday affairs of the company.
September 2011
Kim Hillary becomes Board Member at Large of the Michigan Chapter of the International Women's Insolvency and Restructuring Confederation
Ms. Hillary has been designated as a Board Member at Large for the Michigan Chapter of IWIRC (International Women's Insolvency and Restructuring Confederation). Ms. Hillary is also a member of the MIWIRC Programming Committee.
August 2011
Brendan Best authors article for ABI newsletter
Brendan Best wrote an article for the American Bankruptcy Institute's Ethics Committee Newsletter which has been published in the August 2011 edition. The article is entitled, "In re Wireless Telecommunications Inc. Court Weighs in on Allowance of Professional Fees, Approves 12% Voluntary Reduction by Debtors' Counsel", and focuses on the disgorgement of professional fees in Chapter 11 cases. (http://www.abiworld.org/committees/newsletters/ethics/vol8num4/reduction.html).
August 2011
Michael E. Baum and John Stockdale, Jr. assist local construction company with chapter 11 process
Michael E. Baum and John Stockdale, Jr. represent local home construction company, which was beset by state court litigation and unprofitable contracts, in its chapter 11 bankruptcy case. While this case is in the early stages, Mr. Baum and Mr. Stockdale are working with the Debtor, the creditor's committee, construction lien creditors, and certain homeowners to complete profitable projects while shedding the unprofitable construction projects.
August 2011
Michael E. Baum and John Stockdale, Jr. obtain entry of Critical Vendor Order in chapter 11 case
After two days of hearings and the submission of testimony from the business's CFO, Michael E. Baum and John Stockdale, Jr. successfully argued for entry of a Critical Vendor Order in a construction contractor's chapter 11 case. This order, which is infrequently granted, allows a chapter 11 debtor to pay certain necessary prepetition claims of creditors during the first 21 days of the case.
June 2011
Joseph K. Grekin and John Stockdale, Jr. sell local restaurant through chapter 11 process
Joseph K. Grekin and John Stockdale, Jr. represent a renowned local restaurant in its chapter 11 case. The case was filed solely to undertake a sale of the restaurant to new owners free and clear of any claims, liens and encumbrances. As a result of the sale, the restaurant continues to operate, now under new management, pending the transfer of the liquor license to the purchaser, which will complete the sale.
May 2011
John Stockdale, Jr. obtains chapter 7 discharge for small business owner
John Stockdale, Jr. obtained a chapter 7 discharge for a small business owner in a complex bankruptcy case. Mr. Stockdale negotiated a resolution of the business lender's nondischargability claim against the debtor, allowing the debtor to receive his discharge. Mr. Stockdale also negotiated the debtor's exemptions with the chapter 7 trustee, which allowed the debtor to retain many of his arguably non-exempt assets, including an extensive hockey memorabilia collection and fishing boat.
May 2011
Michael E .Baum earns highest possible rating from Martindale-Hubble
Michael E. Baum has earned an AV Preeminent rating from Martindale-Hubble, the most prominent service for locating lawyers nationwide. According to Martindale-Hubble, an AV Preeminent rating, "demonstrates that a lawyer has earned the highest rating available for their legal ability and professional ethics." The ratings are awarded based on a stringent peer review of a lawyer's general ethical standards, legal knowledge, analytical capabilities, judgment, communication abilities, and legal experience.
May 2011
John Stockdale Jr. obtains dismissal of a nondischargability lawsuit
A 50-percent member in a limited liability company filed a motion to lift the automatic stay to continue a state court lawsuit and separately filed a nondischargability lawsuit against the debtor, the other 50-percent member. Mr. Stockdale defeated the motion to lift the automatic stay, prohibiting continuation of the state court litigation. The Bankruptcy Court also granted Mr. Stockdale's motion for summary judgment, dismissing the nondischargability lawsuit against the debtor. As a result of these victories, the Bankruptcy Court entered an order discharging the debtor of more than $1 million in pre-petition liabilities, including those owed to the 50-percent member.