Adams and Reese Special Counsel Elected to American College of Bankruptcy Foundation Board

(BIRMINGHAM, ALA. – LAWFUEL) – Adams and Reese Special Counsel Richard Carmody, out of the firm’s Birmingham office, has been elected to serve on the board of the American College of Bankruptcy Foundation.

The American College of Bankruptcy is an honorary association of bankruptcy and insolvency professionals. Nominees are extended an invitation to join based on a proven record of the highest standards of professionalism and service to the profession.

Carmody is one of the firm’s principal bankruptcy attorneys, representing clients with a broad spectrum of interests in difficult financial situations, including secured lenders in documenting loans and working out troubled loans, unsecured creditors in bankruptcy proceedings, debtors in bankruptcy reorganizations, trustees in special bankruptcy litigation matters and purchasers of assets in bankruptcy proceedings. He has appeared in Bankruptcy Courts in the three Federal Districts in Alabama, as well as Tennessee, Texas, Delaware, Arkansas and New York.

Carmody established and served as co-chair of the Ethics Committee of the American Bankruptcy Institute (1999-2005) and currently is a member of the Standards Committee of the American Board of Certification. In 1992, he became the first lawyer in Alabama to become certified as a specialist in business bankruptcy by the American Board of Certification. In 1999, Carmody was inducted as a fellow in the American College of Bankruptcy, and currently serves on its Pro Bono Committee. He is also a member of the American Bankruptcy Institute’s Pro Bono Committee.

He is a frequent lecturer and writer on bankruptcy and commercial law topics. He helped establish and served as the first chair of the Alabama State Bar Section on Bankruptcy and Commercial Law and is a member of the Alabama Law Institute’s Committees for revision of the UCC (Articles 3, 4, 4A, 5 and 9). The Alabama State Bar has recognized him as a “Lawyer Rendering Service.” Carmody is listed in The Best Lawyers in America (Bankruptcy and Creditor-Debtor Rights Law) and is listed in Chambers USA Directory as a Leader in the field of Banking and Finance.

Carmody regularly represents lenders and borrowers in complex commercial lending transactions, including forestry and agricultural loans. He helps to develop lending forms and lending policies for financial institutions. Most recently, Carmody assisted a top-ten bank in establishing a Marine Lending Document. He counsels, and helps plan, complex business transactions involving the purchase and sale of businesses and assets. He has prosecuted and defended financial institutions in federal and state courts on matters involving every facet of the Uniform Commercial Code.

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