September 2010
The Fourth Annual Turnaround Management Association MidAmerica Conference will be held in Detroit on September 14th and 15th at the Greektown Casino, Detroit. The Greektown Casino was the first commercial casino in the country to be owned by an Indian Tribe and, in 2008, became one of the first casinos in the nation to file Chapter 11. Dan Weiner, who served as lead bankruptcy counsel for Greektown, will serve as a panelist for the session entitled "Chips and DIP: Making Greektown Casino a Winner". The Turnaround Management Association (www.turnaround.org) is the only international non-profit association dedicated to corporate renewal and turnaround management.
July 2010
Brendan Best has recently taken on the representation of a group of over 20 companies located across the country, with potential exposure in excess of $4 million, who have been sued in the Kimball Hill Homes bankruptcy case pending in the Northern District of Illinois for the return of payments received in the 90 days prior to Kimball Hill Homes filing for bankruptcy. The group of clients consists of construction subcontractors and material providers who did business with Kimball Hills Homes prior to and during that company’s wind down in several States, including California, Florida, Illinois, Nevada, and Texas.
June 2010
Joe Grekin recently obtained summary disposition over a bank in a contentious matter the bank commenced against a prominent local business. The bank filed its lawsuit against the business for breach of a loan agreement. Our client countersued under various legal theories and won summary disposition on a key component of its counterclaim. The case is proceeding to trial to determine the business’ damages.
June 2010
Joe Grekin and John Stockdale, Jr. successfully obtained a chapter 7 discharge for a former executive of an automobile supplier. This individual made well over six figures while employed with the supplier and owed substantial sums to the now-bankrupt supplier and various other creditors. The executive’s successful bankruptcy was the result of substantial insolvency planning, including the structure, formation, and operation of a consulting business; negotiation with various mortgage holders on several properties; and the resolution of various state court collection actions.
June 2010
John Stockdale, Jr. presented the “Current Case Law Update” at the annual Michigan Association of Certified Public Accountants’ Business Valuation and Litigation Conference on June 15, 2010 in Novi, Michigan. The seminar discussed various cases impacting appraisal practice under Michigan’s Business Corporation Act, the Bankruptcy Code, and other legal regimes.
May 2010
On May 27, 2010, Dan Weiner and Joe Grekin gave a presentation entitled "Helping the Fox Count the Hens – A CPA's Role in Chapter 11". Dan and Joe helped CPAs understand how they can assist the debtor and its counsel before, during and after a Chapter 11 case, and get paid along the way.
May 2010
Dan Weiner and Joe Grekin aggressively defended claims asserted by a lender against real estate developers who guaranteed a sizeable debt on a complex commercial project. After the lender sued, we filed a counter-claim, and ultimately spearheaded a negotiation resulting in an 8% payout over 10 years.
May 2010
Joe Grekin and John Stockdale, Jr. successfully negotiated an out-of-court work out plan for a prominent local restaurant, which had been sued by its bank, seeking to recover the full amount of its outstanding loan and retake the restaurant’s property. The restaurant, like many local businesses, has suffered significant revenue declines during the current recession. The engagement involved the formation of a restructuring plan, negotiation of forbearance agreements with the restaurant’s bank and its landlord, and the resolution of various issues between its current and former members. As a result of the out-of-court workout, the bank’s suit against the restaurant has been dismissed.
March 2010
On March 25, 2010 Dan Weiner (who always wanted to be an actor) played the role of debtor’s counsel in a five act play entitled: "The Nine Lives of a Re-Org" showing the ups and downs of a real life, out-of-court workout.
March 2010
Mike Wernette won summary judgment in a bankruptcy court lawsuit filed against his client by a union-affiliated benefit trust fund. The client, a business owner who had filed for Chapter 7 relief, was sued by the trust fund for a $518,000 non-dischargeable judgment under ERISA. Mike won the case by establishing that his client did not cause the alleged damages.
October 2009
In October 2009 Dan Weiner moderated a blue chip panel of Tier I and Tier II automotive suppliers and led a spirited discussion about the challenges and strategies to survive and thrive in the current business climate.
2010
Dan Weiner and Howard Borin collaborated in assisting Habitat for Humanity, a Michigan non-profit corporation affiliated with Habitat of Michigan, regarding complex real estate issues. Mr. Weiner and Mr. Borin performed these services pro bono as a service to the community.