Firm profile submitted by Stichter, Riedel, Blain & Postler PA
Founding Partners: Don M Stichter, Harley E Riedel
Number of partners: 13
Number of other lawyers: 6
Stichter, Riedel, Blain & Postler, PA specializes in the representation of parties in bankruptcy cases, insolvency matters, outof- court workout arrangements, negotiations related to the restructuring of commercial loans, assignments for the benefit of creditors and related civil litigation and corporate transactions.
The firm’s shareholders have more than 250 years of cumulative experience in the insolvency practice and bring this experience and expertise to bear in all types of insolvency and loan work-out situations. The firm is rated AV by Martindale-Hubbell and 79% of the firm’s lawyers (including all the firm’s partners) are also individually rated as ‘AV Preeminent Lawyers’ by Martindale-Hubbell.
Don M Stichter, Harley E Riedel, Russell M Blain, Elena P Ketchum, and Edward J Peterson have each served as president of the Tampa Bay Bankruptcy Bar Association. Scott A Stichter currently serve its Vice President, and Barbara A. Hart serves on its Board of Directors. Don M Stichter, Harley E Riedel, and Russell M Blain are Fellows of the American College of Bankruptcy. The firm received the Florida Supreme Court Commendation for Pro Bono Work in 2014.
Scott A. Stichter was awarded the Thirteenth Judicial Circuit Professionalism Award in 2008. In 2015, Don M Stichter was named the Outstanding Lawyer in Hillsborough County, Florida. In 2003, Don M. Stichter was the first recipient of the Douglas P McClurg Lifetime Achievement Award presented by the TBBBA in 2004. Mr. Riedel became the third recipient of the McClurg Award in 2007. Stephen R. Leslie received the Alexander L. Parkay Lifetime Achievement Award from the Southwest Florida Bankruptcy Professional Association in 2016. Mr. Blain was the Chair of the Business Law Section of the Florida Bar in 2008-09 and remains a member of its Executive Council.
He is also the past president of the Hillsborough County Bar Foundation and a past president of the Ferguson-White American Inn of Court. Ms. Ketchum has served as the Chair of the District–wide Steering Committee for the Middle District of Florida Bankruptcy Court since its inception in 2012. Susan Sharp, Barbara Hart, and Jodi Cooke have all served on the board of the Florida Chapter of the International Women’s Insolvency & Restructuring Confederation and Jodi Cooke is also a member of the Executive Counsel for the Business Law Section of the Florida Bar.
The firm’s lawyers frequently speak and write on insolvency issues and have lectured for the National Conference of Bankruptcy Judges, The Florida Bar, the American Bankruptcy Institute and the Southeastern Bankruptcy Law Institute. Several members of the firm serve on advisory boards for the American Bankruptcy Institute and the Turnaround Management Association. The firm also handles complex transactional assignments involving stock and asset sales, mergers, and financing.
Stichter, Riedel, Blain & Postler, PA advises clients faced with insolvency or bankruptcy issues or faced with potential loan defaults. It regularly represents parties in cases pending in all of the bankruptcy courts in Florida, as well as in other states. It represents parties to Assignment cases under Chapter 727 of the Florida Statutes and federal receiverships. It also regularly represents borrowers and guarantors in foreclosure and deficiency actions pending in the state courts of Florida. The firm has offices in Tampa, Fort Myers, Destin, and Pensacola. As a ‘boutique’ STET firm, Stichter Riedel begins many of its engagements as a result of referrals from other professionals who have a long-standing attorney-client or accountant-client relationship with the client. The firm also handles complex transactional assignments involving stock and assist sales, mergers, and financing.
Clients: The firm has represented numerous debtors in Chapter 11 cases as well as substantial creditors, purchasers, defendants, committees, trustees, or other parties in interest in many significant Chapter 11 and Chapter 7 cases. The largest segment of its practice consists of the representation of corporate debtors in Chapter 11 cases.
Clients range from small companies to large publicly owned corporations. Most cases involve companies with assets, liabilities, or annual revenues in excess of $5 million, ranging in size to companies with assets and liabilities of more than $3 billion.
Among the more significant debtor representations are: Hillsborough Holdings Corp., formerly known as The Jim Walter Corporation and its 32 subsidiaries,with assets and liabilities of more than $3 billion; Koger Properties, Inc., a New York Stock Exchange company at the time of filing with assets and liabilities of more than $500 million; The Koger Partnership, Ltd., a publicly traded limited partnership with assets and liabilities of more than $200 million; Bicoastal Corporation, formerly known as The Singer Company, with assets in excess of $500 million and over $2 billion in asserted claims; Lykes Bros. Steamship Co., Inc., the third largest US Flag international shipping company with assets and liabilities in excess of $300 million; Jumbosports Inc., a major national retailer of sporting goods with 59 stores in more than 20 states and assets and liabilities of more than $300 million; Moltech Power Systems, Inc., a Gainesville-based manufacturer of rechargeable batteries with annual revenues of $140 million and assets and liabilities of approximately $80 million; Taylor Bean & Whitaker Mortgage Corp., which was in mid-2009 the largest privately owned mortgage company in the country with assets and liabilities in excess of $1 billion; Ocala Funding LLC, a wholly-owned subsidiary of Taylor Bean which originated and sold loans to Taylor Bean and had assets and liabilities in excess of $1 billion; and more than 15 real estate entities in the Odyssey Family of Companies, owing more than $200 million in debt.
Among numerous substantial creditor and purchaser representations are: the Official Creditors’ Committee in Anchor Glass, the third largest US glass manufacturer with liabilities of more than $600 million; Outback Steakhouse, Inc., the successful purchaser of the designation rights to 76 restaurants in the Delaware Chapter 11 case of Chi-Chi’s, Inc.; and a class of consumer creditors in the New Jersey case of American Family Publishers (a Time, Inc. subsidiary).
The firm represents chapter 7 trustees and federal receivers. Those representations include the recent chapter 7 trustees case of Fontainebleau, Banyon 1030-32 and Banyon Income Fund, cases that involved in excess of $9.9 billion, $520 million and $220 million, respectively. Since the economic recession of 2008, which resulted in significant financial pressure on real estate businesses in Florida, a large part of the firm’s work has been devoted to the resolution of billions of dollars in real estate loans, often in out-of-court negotiations. An extensive list of other public representations is set forth on the firm’s website. Lawyers with Stichter, Riedel, Blain & Postler, PA have been involved in more than 400 reported decisions including matters in the US Circuit Courts of Appeals, the US District Courts and the US Bankruptcy Courts.