Jimmy D Parrish

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Bankruptcy, Restructuring and Creditors' Rights

National in scope, our Bankruptcy, Restructuring and Creditors’ Rights practice has played a key role advising debtors, creditors and creditors’ committees. For much of our history, we have handled large and middle-market commercial bankruptcy cases for clients involved in virtually every form of commercial enterprise, including automotive, airline, energy, steel, manufacturing, retail, real estate, health care, media and finance industries. Our extensive experience in business workouts, complex reorganizations and bankruptcy proceedings—backed by our national litigation, labor, tax, environmental, intellectual property and corporate practice—enables us to provide comprehensive legal counsel to clients regarding creditor and debtor relations.

Advising Debtors

Our goal is to diagnose our client’s problems, recommend solutions and develop strategies that enable our clients to weather current problems and avoid future ones. For clients facing financial problems, we advise on the benefits of workouts, refinancings, liquidations, forebearance agreements and other nonjudicial strategies to avoid the need for costly and time-consuming court restructuring. For those clients with more imminent problems, we are prepared to assemble a team of lawyers and paralegals experienced in the rapid preparation of court documents anywhere in the United States to provide our client with protection from creditors. We have advised large national business clients, regional and middle market companies. We understand how to provide cost-effective services to clients of all sizes.

Advising Creditor Committees

Creditor committee representations are far from routine. Especially when dealing with industrial bankruptcy cases, a committee’s counsel cannot afford to patiently wait for the debtor to provide alternatives. The committee becomes an organizing center for every constituency. When well-advised, a committee can combine the efforts and interests of trade creditors, organized labor and governmental regulatory bodies into a force the debtor must reckon with. We have specialized in functioning, where necessary, as a “committee in possession,” assisting creditor committees in taking action where the debtor is unable or unwilling to proceed. Because of our extensive experience as counsel for companies in almost every major commercial sector, Baker Hostetler can bring business advisory skills, as well as strong advocacy to the side of the committee in any representation.

Complex Fraud/Misconduct Cases

In large bankruptcy cases, where improper conduct is alleged, a chapter 11 Trustee may be appointed. Baker Hostetler has specialized in helping them get control of those companies, obtain the trust of creditor constituencies, resolve disputes with prosecutors, and distribute money to creditors where none seemed forthcoming. We have represented creditors’ committees in these cases as well.

Addressing Customer and Supplier Concerns

Many of our clients need advice on a regular basis about how to respond to the business problems of their customers and suppliers. If a client receives notice of a bankruptcy case or merely feels insecure about the financial stability of another business, our attorneys will review all available alternatives, which may include repossession of collateral, reclamation of goods sold, stoppage in transit, obtaining a receiver, foreclosure of real estate, secured party sales, acquisition of the troubled business, filing of liens, or obtaining letters of credit. After consulting us, our clients often find that collecting unpaid accounts is possible if the proper actions are taken in a timely manner.

Representing Secured Creditors

Our lawyers have acted as counsel to secured lenders in national bankruptcy cases involving every kind of commercial enterprise. We have assisted as counsel to official and unofficial bank creditor committees, and have represented individual lenders. We also have drafted and negotiated for material and post-petition financing agreements.

Complex Bankruptcy-Related Issues

Liability for environmental cleanup costs is frequently a central focus of bankruptcy proceedings. In addition, in many cases collective bargaining agreements must be modified in order for a debtor to reorganize. Often, pension benefits must be revised substantially or eliminated altogether. Complex and unique tax issues arise in bankruptcy. These matters require special knowledge. Our firm has built a national reputation in resolving complex environmental, labor, pension and tax issues arising in bankruptcy cases.

Acquisition Assistance

The financial distress of one business is often an opportunity for another business. Troubled business acquisitions require flexible, inventive thinking. We have helped buyers acquire financially distressed companies ranging from large steel mills to small retail stores, with or without court proceedings. In the course of our practice, we see opportunities which we refer to acquisition-minded clients. Our clients are very sensitive to the pitfalls of acquiring assets in troubled situations and call us early on for strategy and advice.

Litigating to Achieve Objectives

Should a bankruptcy case or other court proceeding commence, we turn to our litigators to suggest court strategies for achieving our clients’ objectives. Immediate intervention can often prevent assets from disappearing, compel delivery of needed goods to complete a job, restrain parties from taking actions which might seriously damage a client’s business, obtain possession of collateral to maximize recovery, or protect a client from the judicial or nonjudicial actions of others.

Baker Hostetler has played a key role in many of the most important bankruptcy cases throughout the U.S. and around the world. Our lawyers regularly handle complex, high profile and strongly contested bankruptcies for debtors, creditors and committees. We understand the unique needs of creditor committees and secured lenders, having worked in almost every major commercial sector to provide business advice and strong advocacy. In court we can often prevent the dissipation of assets and secure maximum recovery of asset value. And we can help with the problems that a bankruptcy filing causes for the customers and suppliers of the debtor.

Baker Hostetler has played a key role in many of the most important bankruptcy cases throughout the U.S. and around the world.

Jimmy D Parrish
Baker & Hostetler LLP
SunTrust Center #2300
200 S Orange Ave
Orlando FL 32801
Tel: 407 649-4048
Fax: 407 841-0168
E-mail: jparrish@bakerlaw.com

Board Certified Specialist in Business Bankruptcy - American Board of Certification

PRACTICE STRENGTHS
* Bankruptcy, Restructuring and Creditors' Rights

Jimmy Parrish practices in the Bankruptcy, Restructuring and Creditors’ Rights group and has extensive experience in a broad range of insolvency and business bankruptcy matters. Mr. Parrish is Board Certified in Business Bankruptcy by the American Board of Certification and has represented corporate debtors, committees, trustees, secured lenders and other creditors in virtually every industry, including agriculture, airline, healthcare, manufacturing, communications, real estate and hospitality. Mr. Parrish has been honored in current and past editions of the Florida Trend’s Legal Elite and Florida Super Lawyers. Prior to entering private practice, Mr. Parrish served as a Judicial Law Clerk to the Honorable Arthur B. Briskman, United States Bankruptcy Judge for the Middle District of Florida.

Mr. Parrish is an active volunteer in the community, where he serves as a volunteer coach at the YMCA and an active speaker at local high schools for the Central Florida C.A.R.E. (Credit Abuse Resistance Education) Program. He is a member of the American Bankruptcy Institute and the Central Florida Bankruptcy Law Association.