Partner Ryan Reinert and attorney Bridget Dennis, from Shutts & Bowen LLP’s Tampa office, recently authored an American Bankruptcy Institute Journal article, discussing creditor control in individual chapter 11 cases.
Citing Bankruptcy Code and specific case law, they delve into a creditors’ options when faced with a debtor that fails to act in the best interest of the bankruptcy estate.
Noting the many factors and state-specific issues to be considered when filing for chapter 11 in Florida, Ryan and Bridget provide details on factors including establishing a budget for the debtor’s use of post-petition income, the absolute-priority rule and serving discovery requests through Bankruptcy Rule 2004. In the article, they advise that the “threat of removal of a debtor in possession remains a viable option for a creditor wanting to keep control of the debtor’s bankruptcy case, especially for those debtors living the unreasonably extravagant lifestyle.”
To read the article in full, click here.
About Ryan Reinert
Ryan C. Reinert is a partner in Shutts & Bowen’s Tampa office, where he is a member of the Creditors’ Rights/Bankruptcy Practice Group. Ryan is a business bankruptcy practitioner board certified by the American Board of Certification, representing lenders, trustees and creditor committees in Chapter 11 bankruptcy cases. He has represented commercial and individual lenders in federal and state courts, including traditional, pooled, joint venture and CMBS loans. Ryan has also represented asset purchasers, landlords, trade creditors and contractors in business bankruptcy and liquidation cases. Ryan currently serves as a Member of the Board of Directors of the Tampa Bay Bankruptcy Bar Association.
About Bridget Dennis
Bridget M. Dennis is an attorney in the Tampa office of Shutts & Bowen LLP, where she is a member of the Creditors’ Rights/Bankruptcy practice group. Bridget’s practice focuses on the areas of debtor-creditor matters and bankruptcy litigation. Prior to joining Shutts, Bridget was a law extern for the Honorable Judge Caryl E. Delano of the United States Bankruptcy Court, Middle District Court of Florida. She also served as a law intern with the United States Attorney’s Office for the Middle District of Florida, Appellate Division.