In reorganization, insolvency, trouble asset and distressed entity matters, Mike Paslay serves the needs of secured lenders, debtors, unsecured creditors' committees, indenture trustees and third-party purchasers. Over the last decade, Mike has been involved in two of the largest municipal bankruptcies in U.S. history.
With an emphasis on municipal, manufacturing, and healthcare cases, Mike assists clients in:
Mike combines his depth of knowledge and experience with his creativity and intellectual curiosity. Enjoyable, friendly, responsive, and dedicated, Mike serves clients from a variety of industries, including:
In November 2011, Jefferson County, Alabama filed for Chapter 9 bankruptcy protection, making it the largest municipal bankruptcy ever filed at that time. Representing the trustee for certain sewer debt exceeding $3 billion, Mike and the Waller team were intimately involved in the historic proceedings. In July 2013, the City of Detroit filed its Chapter 9 bankruptcy petition, thereby eclipsing Jefferson County as the largest municipal bankruptcy ever filed. Drawing on the experience provided in Jefferson County, Mike and the Waller team were tapped again to represent the trustee for Detroit's water and sewer bonds-totaling almost $6 billion-in this historic case.
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