Jay Bender

Partner
Charlotte P: 704.338.6035 M: 205.907.8645 F: 704.332.8858
Birmingham P: 205.521.8645 M: 205.907.8645 F: 205.488.6645
Legal Assistant
Samie Creech
P: 704.338.6032 screech@bradley.com
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Jay represents lenders, indenture trustees, and other creditors in bankruptcy cases and receivership proceedings and in out-of-court negotiated workouts, loan restructurings, and orderly liquidations involving privately and publicly owned borrowers. Jay has bought and sold distressed businesses through consensual buy-sell agreements and through more unconventional means, such as 363 bankruptcy sales, confirmed bankruptcy plans (under both chapter 11 and chapter 9), receivership sales, UCC sales of collateral, “friendly” foreclosures, and hostile takeovers accomplished through non-consensual chapter 11 creditors' plans.

Jay also regularly advises financially troubled businesses and their leadership teams, both in out-of-court restructurings and in chapter 11 bankruptcy proceedings. Over his twenty years of bankruptcy practice, Jay has represented debtors in industries as diverse as health care, construction, energy, telecommunications, utilities, wholesale, manufacturing, commercial real estate, oil and gas, and mining.

Jay has extensive experience representing debtors, creditors, and other parties in chapter 9 bankruptcy cases involving distressed municipalities. Among his representative matters are the Jefferson County (Alabama) chapter 9 case, in which he represented the county in its successful restructuring of over $5.0 billion in debt; the West Jefferson Amusement and Public Park Authority bankruptcy proceeding, in which he served as lead bankruptcy counsel in what was then the largest chapter 9 case in Alabama history; and the Natchez Regional Medical Center chapter 9 bankruptcy, in which he represented a publicly traded health care company in its acquisition of an operating hospital pursuant to a confirmed chapter 9 plan of adjustment. Jay is a coauthor of Representing Creditors in Chapter 9 Municipal Bankruptcies (Aspatore 2014).

Jay has developed special expertise representing creditors, debtors, investors, and buyers of financially troubled health care providers. He is the founder and co-chair of the firm’s Distressed Health care team, a multidisciplinary group comprised of our firm’s bankruptcy and restructuring professionals, together with attorneys from the firm’s nationally recognized Health Care practice and its Corporate and Public Finance group. Jay has represented clients in distressed health care cases involving hospitals, surgical centers, continuing care retirement communities (CCRCs), skilled nursing facilities, assisted living facilities, rehabilitation therapy providers, physician groups, imaging centers, and hospices.

Jay has handled numerous engagements involving disputes regarding distressed construction projects and businesses, including the representation of owners, contractors, subcontractors, sureties, and construction lenders in such matters. He also has represented secured lenders, suppliers and customers in a variety of matters involving distressed automotive manufacturers and suppliers.

Representative Experience
  • Debtors
      • In re Walter Energy, Inc. - Bankruptcy counsel for Walter Energy, Inc., a publicly traded company and one of the world’s largest producers of metallurgical coal, and 22 of its subsidiaries. The Walter Energy case is the largest chapter 11 ever filed in the state of Alabama and involved over $3 billion in long-term debt.
      • In re Jefferson County, Alabama - Bankruptcy counsel for the most populous county in Alabama in its chapter 9 bankruptcy case, pursuant to which the county confirmed its chapter 9 plan of adjustment, successfully restructuring over $5 billion in debt.
      • In re Dixie Pellets, LLC - Lead bankruptcy counsel for manufacturer and exporter of wood-based biofuel products in case involving complex issues of maritime law and lien priority disputes; obtained approval of sale of substantially all assets pursuant to 363 sale; obtained confirmation of chapter 11 plan of liquidation.
      • In re Moore-Handley, Inc. - Lead bankruptcy counsel for one of country’s largest wholesale hardware distributors; obtained approval of 363 sale of substantially all of company’s assets over objections of unsecured creditors committee and labor union.
      • In re Carraway Hospital - Debtor’s counsel for Carraway Methodist Hospital, an inner-city not-for-profit sold to as a going concern to a for-profit operator. In a second chapter 11, represented the buyer in winding down the hospital’s operations and liquidating its assets under bankruptcy court supervision.
      • In re J.A. Jones, Inc. - Representation of international construction conglomerate in multibillion-dollar chapter 11 case filed in the Western District of North Carolina; obtained approval of multiple 363 sales resulting in orderly, going-concern sales of debtors’ various business lines.
      • In re The West Jefferson Amusement and Public Park Authority - Lead chapter 9 bankruptcy counsel for municipal authority that owned amusement park development financed with $90 million bond issuance; confirmed chapter 9 plan providing for sale of substantially all assets to private operator.
      • Representation of distressed utility in out-of-court debt restructure - Represented electric cooperative in restructuring of multimillion-dollar secured financing facility.
      • Representation of distressed telecommunications company - Represented closely held telecommunications company in restructuring of multiple secured credit facilities.
      • Representation of distressed senior care facility - Represented distressed continuing care retirement community (CCRC) in negotiations and litigation with multiple secured lenders.
  • Secured Creditors and Indenture Trustees
      • Wachovia Bank, N.A, et a l. , v. 5th & Main Residential Owner, Inc., et al., Chancery Court, Davidson County, Tennessee - Represented secured lender in obtaining appointment of receiver for mixed-use, commercial and retail real estate project in Nashville with over $40 million in outstanding project financing.
      • In re Collins & Aikman, Inc. , U.S. Bankruptcy Court for the Eastern District of Michigan - Represented MOBIS Alabama, Inc. in 363 sale proceedings pursuant to which MOBIS purchased joint venture interests and other assets of chapter 11 debtor.
      • In re Hunjan Moulded Products (Alabama) Ltd., U.S. Bankruptcy Court for the Northern District of Alabama - Representation of Tier I automotive supplier in Tier II supplier bankruptcy; negotiated purchase of assets from debtor and from affiliate in Canadian insolvency proceedings.
      • In re Altamont Associates, Ltd., Circuit Court of Jefferson County, Alabama - Represented indenture trustee in obtaining appointment of receiver for skilled nursing facility, resulting in going-concern sale of facility pursuant to court-approved receiver’s sale.
      • In re Byrd Companies, Inc., U.S. Bankruptcy Court for the Northern District of Alabama - Obtained confirmation of creditor’s plan in contested chapter 11 case of large real estate developer, resulting in creditor’s acquisition of substantially all assets of debtor over debtor’s objection, after week-long evidentiary hearing.
      • Representation of bank in workout of letter of credit facility to municipal healthcare authority - Represented secured lender in workout of multimillion-dollar letter of credit issued by lender for benefit of financially distressed rural healthcare authority; successfully negotiated the full release of letter of credit without any loss to secured lender.
      • Sale of distressed consumer products retailer - Negotiated and closed complex UCC sale of distressed retail franchise business to third-party buyer.
      • Representation of secured lender in workout of loans to publicly traded aviation company - Represented secured lender in workout of multimillion-dollar loan to publicly traded aviation company, resulting in full payment to lender of all outstanding debt plus restructuring fees.
      • Representation of secured lender in workout of failed commercial real estate loan - Represented secured lender in workout of multimillion-dollar loan to Gulf Coast real estate developer; successfully negotiated sale of all bank debt for full recovery to lender.
      • Sale of distressed medical services company - Negotiated and closed complex UCC sale of distressed medical services business to third-party buyer.
      • Sale of distressed construction services business - Lead attorney organizing UCC sale by multiple, unaffiliated secured lenders of substantially all assets of a construction services business on a going-concern basis to third-party buyer.
      • Representation of secured lender in liquidation of publicly traded borrower - Represented secured lender in workout of multimillion-dollar loan to publicly traded sign manufacturer; negotiated going-concern sales of several borrower subsidiaries and advised regarding orderly liquidation of other borrower assets.
  • Receiverships
      • Wachovia Bank, N.A, et al., v. 5th & Main Residential Owner, Inc., et al., Chancery Court, Davidson County, Tennessee - Represented secured lender in obtaining appointment of receiver for mixed-use, commercial and retail real estate project in Nashville with over $40 million in outstanding project financing.
      • In re Altamont Associates, Ltd., Circuit Court of Jefferson County, Alabama - Represented indenture trustee in obtaining appointment of receiver for skilled nursing facility, resulting in going-concern sale of facility pursuant to court-approved receiver’s sale.
      • Representation of buyer of commercial real estate via complex judicial foreclosure sale - Representation of the purchase of apartment complex in receivership; sale was approved via a rarely used Alabama judicial foreclosure sale, which incorporated bidding procedures much like those used in 363 bankruptcy sales.
  • Buying and Selling Distressed Businesses
      • In re Atherotech, Inc. - Represented Chinese publicly traded company in successful bankruptcy acquisition of leading clinical laboratory corporation.
      • In re Natchez Regional Medical Center , U.S. Bankruptcy Court for the Southern District of Mississippi - Represented publicly traded healthcare company in purchase of community hospital out of bankruptcy in Mississippi pursuant to a confirmed chapter 9 plan of adjustment of debts.
      • Acquisition of Arizona surgical hospital by national operator of ambulatory surgery centers and surgical hospitals - Represented publicly traded owner and operator of ambulatory surgery centers and surgical hospitals in its acquisition of a surgical hospital out of chapter 11 bankruptcy filed in Arizona and simultaneous sale of minority interest to a physician group.
      • In re InfoMotion Sports Technologies - Representation of multinational sporting goods company in successful acquisition of substantially all assets of developer of smart basketball technology through chapter 11 sale in U.S. Bankruptcy Court for the District of Massachusetts.
      • In re Dixie Pellets, LLC - Lead bankruptcy counsel for manufacturer and exporter of wood-based biofuel products in case involving complex issues of maritime law and lien priority disputes; obtained approval of sale of substantially all assets pursuant to 363 sale; obtained confirmation of chapter 11 plan of liquidation.
      • In re Moore-Handley, Inc. - Lead bankruptcy counsel for one of country’s largest wholesale hardware distributors; obtained approval of 363 sale of substantially all of company’s assets over objections of unsecured creditors committee and labor union.
      • In re Dorsey Trailer Company, Inc. - Represented purchaser of substantially all assets of manufacturing company through 363 sale in chapter 11 case.
      • In re Collins & Aikman, Inc. - Represented MOBIS Alabama, Inc. in 363 sale proceedings pursuant to which MOBIS purchased joint venture interests and other assets of chapter 11 debtor in U.S. Bankruptcy Court for the Eastern District of Michigan.
      • In re Hunjan Moulded Products (Alabama) Ltd., U.S. Bankruptcy Court for the Northern District of Alabama - Representation of Tier I automotive supplier in Tier II supplier bankruptcy; negotiated purchase of assets from debtor and from affiliate in Canadian insolvency proceedings.
      • In re J.A. Jones, Inc., et a l. - Representation of international construction conglomerate in multibillion-dollar chapter 11 case filed in Western District of North Carolina; obtained approval of multiple 363 sales resulting in orderly, going-concern sales of debtors’ various business lines.
      • In re The West Jefferson Amusement and Public Park Authority - Lead chapter 9 bankruptcy counsel for municipal authority that owned amusement park development financed with $90-million bond issuance; confirmed chapter 9 plan providing for sale of substantially all assets to private operator.
      • In re Byrd Companies, Inc. - Obtained confirmation of creditor’s plan in contested chapter 11 case of large real estate developer, resulting in creditor’s acquisition of substantially all assets of debtor over debtor’s objection, after week-long evidentiary hearing.
      • Sale of distressed consumer products retailer - Negotiated and closed complex UCC sale of distressed retail franchise business to third-party buyer.
      • Sale of distressed medical services company - Negotiated and closed complex UCC sale of distressed medical services business to third-party buyer.
      • Sale of distressed construction services business - Lead attorney organizing UCC sale by multiple, unaffiliated secured lenders of substantially all assets of a construction services business on a going-concern basis to third-party buyer.
      • Representation of secured lender in liquidation of publicly traded borrower - Represented secured lender in workout of multimillion-dollar loan to publicly traded sign manufacturer; negotiated going-concern sales of several borrower subsidiaries and advised regarding orderly liquidation of other borrower assets.
      • Representation of buyer of commercial real estate via complex judicial foreclosure sale - Representation of the purchase of apartment complex in receivership; sale was approved via a rarely used Alabama judicial foreclosure sale, which incorporated bidding procedures much like those used in 363 bankruptcy sales.
  • Bankruptcy Litigation
      • In re Grelier, 400 B.R. 826 (Bankr. N.D.Ala. 2009) - Obtained dismissal of legal malpractice action brought against debtor’s counsel on estoppel grounds.
      • In re Byrd Companies, Inc., U.S. Bankruptcy Court for the Northern District of Alabama, 1999 - Obtained confirmation of creditor’s plan in contested chapter 11 case of large real estate developer, resulting in creditor’s acquisition of substantially all assets of debtor over debtor’s objection, after week-long evidentiary hearing.