Timothy P. Palmer

Timothy P. Palmer concentrates his practice on creditors’ rights, bankruptcy, commercial loan restructuring and insolvency issues. Tim primarily represents secured lenders, including commercial banks and special servicers, in connection with commercial loan workouts.

Tim’s practice includes bankruptcy, receiverships, foreclosures, Article 9 sale transactions and collecting and enforcing judgments. He also represents asset-based lenders in commercial-loan transactions. Tim has experience drafting and negotiating intercreditor agreements in connection with first-lien/second-lien transactions, mezzanine financing and equity-sponsored debt.

Tim’s professional experience includes:

• Assisted a foreign purchaser in acquiring foreign operating subsidiaries of a U.S.-based magazine publisher in a private Section 363 sale.
• Obtained the reversal of a trial court’s decision discharging a guaranty of a $66 million loan following the borrowers’ bankruptcy restructuring creating precedent for lenders in Pennsylvania.
• Represented the purchaser of an $8 million secured loan in a contested Chapter 11 bankruptcy involving a hotel. The debtor threatened to cram-down the note-holder through a multi-year repayment plan. Tim was able to secure a dismissal of the bankruptcy which led to a favorable settlement for his client.
• Represented a large regional bank in an Article 9 asset sale and new credit facility which successfully preserved the going-concern value of a distressed manufacturer.

Education:

• State University of New York at Buffalo, J.D., 2000, magna cum laude
• Canisius College, B.A., 1997, summa cum laude, Political Science

Admissions:

• Pennsylvania
• West Virginia
• U.S. District Court for the Southern District of West Virginia
• New York
• Ohio
• U.S. District Court for the Northern District of Ohio
• U.S. District Court for the Southern District of Ohio