James S. Rankin, Jr.
Partner | Atlanta Officejrankin@phrd.com
T: (404) 420-5560
F: (678) 533-7781
F: (678) 533-7781
Practice Group
Services
Education
- Emory University School of Law - (J.D., 1993)
- Duke University - (B.A., 1990)
Admitted to Practice
- Georgia
About Jay
Jay is a partner in the Bankruptcy practice group primarily representing asset-based lenders and lender groups in connection with Chapter 11 bankruptcy cases in the Southeast, Delaware and New York, workouts, forbearance arrangements, foreclosures and state and federal receiverships. Jay has served as counsel for Chapter 11 trustees and debtors with respect to reorganization and liquidation of businesses and investigation of alleged Ponzi schemes. Jay's practice also includes defending creditors in avoidance actions and other adversary proceedings, including preference, fraudulent conveyance, and equitable subordination actions; representing purchasers of assets in bankruptcy sales; assisting landlords and equipment lessors with assumption, rejection, claims allowance and other issues in bankruptcy cases; and prosecuting and defending creditors’ rights and lender liability actions in state and federal courts, including writ of possession, fraud and guaranty litigation.
Professional and Civic Involvement
- Member, Atlanta Bar Association (Bankruptcy Section)
- Member, American Bankruptcy Institute
- Member, Turnaround Management Association
Honors
- Georgia Rising Star Super Lawyer (2006)
Representative Engagements
- Represented secured lender with $17 million claim in Chapter 11 bankruptcy case of roofing materials supply company, including DIP financing and section 363 sale
- Represented revolving lender with $30 million line of credit in connection with balance sheet restructuring accomplished through prepackaged Chapter 11 case in Delaware
- Represented agent for lenders with claims exceeding $26 million in prosecuting federal receivership and responding to involuntary bankruptcy filing against building supply company
- Conducted discovery and two-day evidentiary hearing on use of cash collateral on behalf of secured lender with $11 million claim and negotiated subsequent sales of textile assets under section 363
- Negotiated and documented $65 million DIP facility and liquidated assets of steel company to fully satisfy claims of lender group
- Negotiated, documented and litigated issues in connection with $38 million asset-based DIP facility provided to specialty textile business, sale of two operating divisions under section 363 and negotiation of Chapter 11 plan with committee
- Prosecuted federal receivership action on behalf of lender with $11 million claim and assisted with sales of textile assets under federal receivership statutes
- Represented asset-based lender with $10 million claim in connection with use of cash collateral by consumer finance company, sales under section 363 and settlement of claims
- Represented asset-based lender with $7 million claim in resolving cash collateral issues, sale of hardwood flooring business under section 363 and financing of purchaser
- Successfully prosecuted and argued appeal to Eleventh Circuit Court of Appeals in bankruptcy claims allowance dispute (In re Slaughter Co. & Associates, 219 F.3d 1279 (11th Cir. 2000))
- Conducted jury trial of action to recover deficiency and to establish commercial reasonableness of disposition of collateral under UCC Article 9 (verdict for plaintiff, October 2005)
Publications and Presentations
- Presented the topic "Restructuring Outside of Bankruptcy" at the Business Law Institute in Atlanta (October 2009)
- Speaker and Author: "Loan Workouts: Selected Forbearance, Lender Liability and Bankruptcy Planning Issues" (ICLE Secured Lending Program, February 2009)
- Speaker and author: "Real and Personal Property Foreclosures -- Pitfalls for the Unwary" for the Atlanta Chapter of the Turnaround Management Association, as a part of the chapter's Interdisciplinary Education Program (June 2009)
- Speaker and Author: "Bankruptcy Law and Litigation" (National Business Institute, May 2008)
- Speaker and author: "Alternatives to Bankruptcy -- Receiverships and ABC's" Atlanta Chapter of the Turnaround Management Association, as a part of the chapter's Interdisciplinary Education Program (June 2009)
- Speaker and Author: "Bankruptcy for the Non-Specialist in Georgia" (Lorman Education Services, 2006, 2007 & 2008)
- Speaker and Author: "Receivership Issues and Strategies - Litigation" (ICLE Real Property Foreclosure Program, April 2007)
- Speaker and Author: "New Developments in Georgia Lender Liability: Understanding and Protecting Yourself Against Borrower Claims" (National Business Institute, April 2006)
- Speaker and Author: "Planning and Managing a Chapter 11 Reorganization From Start to Finish" (National Business Institute, December 2005)
- Speaker and Author: "Revised UCC Article 9 Secured Transactions: What Georgia Practitioners Need to Know" (National Business Institute, September 2004)
- Speaker and Author: "Bankruptcy Aspects of Lending Transactions" (ICLE Secured Lending Program, November 2002)
- Speaker and Author: "The Impact of Revised Article 9 of the Uniform Commercial Code on Non-Judicial Real Estate Foreclosures in Georgia" (ICLE Real Property Foreclosure Program, April 2002)
- Co-Author: "Georgia Evidence" (Thomson Reuters/West, 4th Ed. 2008)
- Co-Author: "Negotiating and Documenting a 'Defensive' Debtor-in-Possession Financing" (The Review of Banking & Financial Services, October 2003)
- Author: "Georgia Enforcement of Security Interests in Personal Property Under Revised Article 9 With Forms" (Thomson/West Publishing Co., 3d Ed. 2002) and Annual Pocket Parts