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Michael E. Hastings
Partner
10 S. Jefferson Street
Suite 1110
Roanoke, VA 24011
Phone: 540.759.3579
Mobile: 540.798.8133
Fax: 540.759.3569
mhastings@wtplaw.com
919 East Main Street
Suite 1000
Richmond, VA 23219
Phone: 540.759.3579
Fax: 540.759.3569
Awards

Mr. Hastings has more than twenty years of experience representing clients in bankruptcy cases, insolvency and default situations and in commercial litigation. He has significant experience representing distressed companies and secured and unsecured lenders in out-of-court workouts, bankruptcy cases, and state and federal court litigation. He has extensive experience in the sale and purchase of businesses and/or assets in bankruptcy and pursuant to Article 9 of the Uniform Commercial Code.

Mr. Hastings also has experience representing debtors, lenders and creditors’ committees in complex Chapter 11 bankruptcy cases involving sophisticated issues such as contested plan confirmation hearings, debtor in possession financing, contested asset purchase/sale litigation, lien validity and priority litigation, jurisdictional and venue disputes, complex avoidance action litigation, and litigation concerning fiduciary duties.

Mr. Hastings has been involved in bankruptcy cases involving manufacturing, energy, health care, financial services, technology and distribution and logistics companies primarily in Virginia, New York and Delaware; however, he has represented clients in bankruptcy cases nationwide.

Chapter 11 Reorganizations and Liquidations

Mr. Hastings has been lead debtor’s counsel in a number of Chapter 11 reorganizations, including the successful reorganization of The Glebe, Inc., a continuing care retirement community in Virginia and Yates’ Mobile Home Sales, a manufactured home distributor in Virginia.  In addition, Mr. Hastings has been lead debtor’s counsel in dozens of liquidations in Chapter 11, including companies in the following industries:  manufacturing (apparel and furniture), high technology (telecommunications), service (plumbing, food), medical (hospital), financial (hedge fund) and real estate development.  Mr. Hastings represented the debtor in the Heilig-Meyers Chapter 11 (Eastern District of Virginia).  

In addition to his experience representing debtors, Mr. Hastings has represented secured and unsecured creditors in innumerable Chapter 11 cases, including some of the largest cases filed in the United States, including without limitation, representing Fortune 500 companies in the General Motors (Southern District of New York), Hawker-Beechcraft (Southern District of New York), Kodak (Southern District of New York), RG Steel (District of Delaware), and Lyondell Chemical (Southern District of New York) bankruptcy cases.  Mr. Hastings represented a major joint venture partner to the debtor in the Luna Innovations (Western District of Virginia) Chapter 11 case.  Mr. Hastings represented private equity investors in the Velocity Capital case pending in the District of Delaware, and he represented lessors in the Circuit City (Eastern District of Virginia), Ennstone (Eastern District of Virginia) and Movie Gallery (Eastern District of Virginia) cases, Mr. Hastings represented a significant supplier in the Cadence Innovation Chapter 11 pending in the District of Delaware.  Mr. Hastings currently represents a variety of trade creditors in the Chapter 11 cases of Alpha Natural Resources, Inc. and Patriot Coal, both pending in the Eastern District of Virginia.  Mr. Hastings also represents the founder and former CEO of Health Diagnostics Laboratories, Inc., pending in the Eastern District of Virginia.

Loan Workouts and Financial Restructuring

Over the course of Mr. Hastings’ career, he has represented borrowers (ranging from mom and pop companies to large businesses) and lenders (ranging from community banks to national banks and private investment companies and hedge funds) in countless out-of-court loan workouts and financial restructuring transactions.  

Creditors’ Committee Representation

Mr. Hastings has also represented Official Committees of Unsecured Creditors in cases in Virginia and Delaware, including the Champion Homes and International Garden Products bankruptcy cases pending in the District of Delaware and numerous Chapter 11 cases in Virginia bankruptcy courts.  Mr. Hastings currently represents the Official Committee of Unsecured Creditors in the Xinergy Ltd. case pending in the Western District of Virginia.

Purchasers of Assets and Businesses in Bankruptcy

In addition to his experience selling businesses and assets in Chapter 11 cases, Mr. Hastings has extensive experience representing purchasers of assets in Chapter 11.  He has represented purchasers of businesses in the following industries:  oil and gas, manufacturing (apparel and furniture), telecommunications, health care, railroad, resorts, and food service.

Representation of Trustees and Receivers 

Mr. Hastings was appointed as receiver of a large construction company by a state court in Virginia, and he represented the receiver in multiple receiverships prosecuted by the Commodities and Futures Trading Commission and the Securities and Exchange Commission.  Mr. Hastings has also represented Chapter 7 trustees in litigation of estate claims, including fraudulent conveyances and avoidable preferences.  He also represented the Liquidating Trustee in the LandAmerica Chapter 11 (Eastern District of Virginia), and the Liquidating Trustee in the Champion Homes case (District of Delaware).

Continuing Care Retirement Communities, Long Term Care and Assisted Care Facilities

Mr. Hastings served as lead counsel for the debtor in the chapter 11 reorganization of a CCRC, one of the few in the U.S. to successfully reorganize and emerge from chapter 11. His work involved restructuring secured municipal bonds and negotiating with and obtaining a release from a moratorium on the collection of entrance fees imposed by the Virginia State Corporation Commission and the Virginia Department of Insurance.

 

 

Recognitions

AV Peer Review Rated: Martindale-Hubbell

Recognized in Chambers USA: America's Leading Lawyers for Business, Bankruptcy/Restructuring, Band 1, published by Chambers and Partners, 2015 - present

Listed in Virginia Super Lawyers, Bankruptcy and Creditor/Debtor Rights, 2007 - present

Named among "Top 50 Virginia Lawyers," 2010 & 2011

Named among "Top 100 Virginia Lawyers," 2012, 2014, 2015 & 2016

Listed in Best Lawyers in America, 2010 - present

Named Best Lawyers' 2019 Roanoke "Lawyer of the Year," Litigation - Bankruptcy

Named Best Lawyers' 2014 Roanoke "Lawyer of the Year," Bankruptcy and Creditor/Debtor Rights

Named Best Lawyers' 2010 Roanoke "Lawyer of the Year," Bankruptcy and Creditor/Debtor Rights

Listed in Virginia Business' "Legal Elite - Virginia's Best Lawyers," 2007 to the present

Memberships & Activities

Former Chair: Virginia Bar Association, Bankruptcy Law Section

Education

  • Washington and Lee University School of Law (J.D. 1993)
  • Eastern New Mexico University (B.B.A. 1989) cum laude