Bankruptcy/Creditor’s Rights

Michael E. Hastings

Whiteford Taylor & Preston LLP
Roanoke
 

Title: Partner

Other legal specialties: Out-of-court restructuring and workouts, representation of Chapter 7 trustees and state and federal court receivers, commercial litigation with a focus on debtor/creditor issues

Birthplace: Cheyenne, Wyoming

Education: Bachelor’s degree in business administration, economics, Eastern New Mexico University; law degree, Washington & Lee University School of Law

Spouse: Mary Hastings

Children: Anne Elise Hastings, 21

Hobbies: Tennis, golf

First job as a lawyer: Private practice at Daniel, Vaughan, Medley & Smitherman PC, a small general practice firm in Danville.

Fan of: Denver Broncos

Favorite vacation spot: Hilton Head Island, S.C.

Recently read book: “Born to Run” by Bruce Springsteen

Career mentor: Several extraordinary lawyers have influenced my career, including James A.L. Daniel, Robert T. Vaughan Jr., Luis Abreu and Glenn Pulley from early in my career, and Bruce H. Matson, Gary D. LeClair, G. Frank Flippin and Doug Densmore from later in my career.

What trends are you seeing in bankruptcy law? In the larger Chapter 11 bankruptcy cases, I have observed recently that private-equity investors/lenders are playing prominent roles in the cases, generally featuring more sophisticated pre-bankruptcy planning and implementation of reorganization plans or sales much more quickly and efficiently than traditional Chapter 11 cases.

What was your most memorable bankruptcy case? My most memorable cases are those in which I represented debtors in reorganization cases because I am so immersed in the business of the debtor. One that comes immediately to mind is my representation of The Glebe, a continuing-care retirement community near Roanoke that required Chapter 11 to modify secured municipal bond financing. The case was a success, and the company is now a thriving business and community.