Attorney Todd Eugene Hennings's Legal Cases

Entertainment

Monetizing Tax Credits -- Georgia Entertainment Tax Credit Financing

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OUTCOME: Production financing obtained and tax credits sold

I created the financial modeling and documentation by which Georgia entertainment tax credits are financed and sold. This is a very new area of financing, and I am one of the few attorneys in Georgia ... with experience in these transactions. Melding relevant portions of the U.C.C. as adopted in Georgia with the tax incentives statutes created to promote growth of the domestic entertainment industry, I structured transactions from due diligence through closing, including preventative measures intended to protect transactions from competing creditor claims. I have educated bankers in the use of these credits as collateral for loans through the Georgia Community Bankers’ Association and numerous one on one training sessions with Georgia based banks. This contributes to the growth and development of the entertainment industry in Georgia.

Banking

Community Banking

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OUTCOME: Represented many community banks in commercial transactions including structuring and workouts

I have represented community banks for approximately 20 years and regularly handle litigation matters for them as well as their bankruptcy matters. In the last several years, I have represented them i ... n the context of multimillion dollar commercial loan participation agreements, claims brought by and against F.D.I.C. successor entities and provided representation in numerous consumer and commercial bankruptcy matters under Chapters 7, 11 and 13 of the Bankruptcy Code.

Bankruptcy and debt

In re Georgia Transit Mix, L.L.C.

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OUTCOME: Asset Sale Approved

I represented a secured creditor holding S.B.A. backed loans in the Chapter 11 bankruptcy case of a large concrete manufacturing company. I structured the debtor’s use of cash collateral with my clien ... t, monitored the debtor’s operations, reviewed and modified the debtor’s asset sale documentation and negotiated the terms of the debtor’s sale as they pertain to my client.

Chapter 7 bankruptcy

In re Bauer Agency, Inc.

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OUTCOME: Significant distribution to creditors

I represented an insurance finance company as petitioning creditor in a successful involuntary Chapter 7 bankruptcy petition, as well as the Chapter 7 trustee in subsequent litigation. The debtor was ... an insurance agency suspected of committing fraud akin to a Ponzi scheme on a grand scale. The investigation involved the services of other professionals, including forensic accountants. I oversaw approximately twenty lawsuits in the case ultimately recovering sufficient monies to make a meaningful distribution to creditors.

Chapter 7 bankruptcy

In re Galey & Lord, Inc.

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OUTCOME: Settlement on favorable terms

Along with co-counsel, I represented a Dutch corporation and its U.S. subsidiary against claims in an adversary proceeding brought by the bankruptcy trustee with gross claims in the initial amount of a ... pproximately $600,000.00, which grew to $1,500,000.00 over the course of the litigation. I resolved the litigation with the aid of significant court rulings limiting client liability.

Chapter 11 bankruptcy

In re SageRyder, Inc.

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OUTCOME: Case conversion to Chapter 7

I represented a debtor online retailer of lighting fixtures and assisted its operations in the context of Chapter 11 proceeding. I litigated over terms of cash collateral use and other challenges. I r ... esolved VISA purchase disputes, claims by and against the debtor and adapted the online business model to operations in Chapter 11 of the Bankruptcy Code. The reorganization eventually collapsed when VISA purchasing agreement defaults could not be cured.

Litigation

In re Alliance Resource Management, Inc.

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OUTCOME: Favorable Settlements for Clients

I represented several creditors who had engaged in numerous transactions with the debtor totaling several millions of dollars. The Chapter 7 debtor had operations consistent with a Ponzi scheme. I de ... fended the clients against claims brought by the trustee, and ultimately recovered the entire amount of the clients’ investments, less nominal interest claims conceded in settlement. I subsequently engaged in litigation before the United States Bankruptcy Court and United States District Court to enforce the settlement agreement with the trustee against third parties.

Chapter 11 bankruptcy

In re Northstar Vinyl Products, Inc.

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OUTCOME: Case converted to Chapter 7

I represented the debtor corporation in Chapter 11 reorganization. The debtor was a manufacturer of sea wall building components. I negotiated with representatives of the government of Dubai concerni ... ng construction contracts involving creation of coastal man made islands. I represented the debtor in litigation before Bankruptcy Court concerning a shareholder dispute and management/control of operations. The case converted to a liquidation when the government of Dubai terminated the supply agreement and ceased construction of island chain.

Chapter 11 bankruptcy

In re Phoenix Water and Sewer, Inc.

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OUTCOME: Conversion of case to Chapter 7

I represented the largest lender in this Chapter 11 bankruptcy case, with claims secured by real estate, equipment and accounts. The debtor was a construction company operating in northern Georgia. I ... negotiated budgets and limitations on the debtor’s use of cash and collateral, monitored the debtor’s performance and ultimately caused the case to be converted to Chapter 7 and a trustee appointed when I uncovered the diversion of estate funds and misappropriation of accounts.

Chapter 11 bankruptcy

In re Capstone Auto Group, Inc.

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OUTCOME: Orderly Liquiation of Assets

I represented an automobile dealership in Chapter 11 case. The debtor had a Ford franchise with two locations outside of Athens, Georgia and annual revenues of several million dollars. As part of the ... reorganization effort, I litigated with Ford Motor Credit Company and Ford Motor Company over allegations of breach of franchise agreement and the debtor’s supply of vehicles for sale. I prepared an asset sale for the dealership and assignment of dealership franchise. Ultimately, after several failed attempts to sell the business, I liquidated the assets and wound down operations.

Todd Eugene Hennings's Legal Cases (11)

Monetizing Tax Credits -- Georgia Entertainment Tax Credit Financing

Community Banking

In re Georgia Transit Mix, L.L.C.

In re Bauer Agency, Inc.

In re Galey & Lord, Inc.

In re SageRyder, Inc.

In re Alliance Resource Management, Inc.

In re Northstar Vinyl Products, Inc.

In re Phoenix Water and Sewer, Inc.

In re Capstone Auto Group, Inc.