Jonathan Covin Discusses Bankruptcy Litigation Trends

Oct. 19, 2011 - PRLog -- DALLAS -- According to the American Bankruptcy Institute, business bankruptcy filings totalled 24,680 nationwide for the first half of 2011, which reflects the ongoing fallout from the struggling economy.  Furthermore, a high commercial bankruptcy rate is expected to continue during the second half of 2011, as business-related bankruptcies continue to be driven by small- and mid-sized companies.

         Jonathan S. Covin, partner of full-service business law firm, Wick Phillips Gould & Martin, LLP, will discuss the impact this growing trend has on business litigation matters.  Speaking before the TexasBarCLE 3rd Annual Business Torts Institute 2011, Covin will discuss “What Every Business Tort Lawyer Needs to Know about Bankruptcy Ramifications.” The annual Torts Institute will take place in Houston starting Oct. 13.

         “Bankruptcy, or even the threat of a bankruptcy filing, presents litigants with a myriad of specialized issues,” said Covin.  “This is especially true in corporate bankruptcy cases which present many complex issues and potential pitfalls for litigators unfamiliar with the most current trends in bankruptcy process, rules, procedures, and case law.”

         According to Covin, one example of a complex bankruptcy is demonstrated by Stern v. Marshall, better known as the Anna Nicole Smith bankruptcy and probate case.  “The Stern v. Marshall case has created significant uncertainty regarding bankruptcy court jurisdiction.  Clearly, the Supreme Court held that the bankruptcy court lacked jurisdiction to enter a final judgment on a state law counterclaim this is not resolved in the process of ruling on a creditor’s proof of claim,” Covin noted.  “Whether Stern v. Marshall narrows the scope of a bankruptcy court's ability to enter a final judgment on other proceedings remains to be seen.  But regardless of how any court looks at this case, it will affect bankruptcy litigation going forward.”

         “In every bankruptcy, the attorney’s goal is to avoid the pitfalls and to maximize potential returns,” said Covin.  “Our goal is to give attorneys the tools they need to recognize when a bankruptcy begins to evolve into an out-of-the ordinary case, while giving concrete strategies as to how to handle sensitive situations. We will also outline when it is time to seek an experienced bankruptcy attorney to handle other-than-routine bankruptcy issues.”

         For more information on the Annual Business Torts Institute 2011, visit its website at: http://texasbarcle.com/materials/Programs/2411/Brochure.pdf.

About Wick Phillips Gould & Martin, LLP:
Serving the legal needs of businesses in a broad range of industries, Wick Phillips practices law with purpose. Specialty areas include commercial litigation, bankruptcy, creditor’s rights, civil appeals, corporate, corporate advisory, labor and employment, and securities. For more information visit www.wickphillips.com.

# # #

Michael A. Burns & Associates is a recognized full service, Southwest-based public relations agency. By 2005, MB&A achieved an O'Dwyer's ranking among the 100 largest independent PR firms in the country.