Jay Welford

Summary

Jay is an attorney in our Bankruptcy and Restructuring and Mergers and Acquisitions practice groups. He specializes in the areas of bankruptcy and corporate restructuring, lending and leasing law, and general corporate representation.

In the bankruptcy and corporate restructuring areas, Jay represents debtors, creditors’ committees, lenders, and leasing companies. He acts as origination and recovery counsel for various lending institutions and leasing companies. Based on his corporate restructuring experience, Jay also acts as outside general counsel to a variety of companies in diverse industries, including construction, manufacturing, trucking, business services, and equipment leasing. Through his years of engagements, Jay also has specific expertise in franchising law, including the development of franchise systems. Jay has assisted a variety of clients in the formation of joint ventures, including joint ventures seeking minority certification.

Jay is a frequent author and lecturer for such organizations as the Commercial Law League of America, the American Bankruptcy Institute, Law Education Institute, the Equipment Leasing, and Finance Association, and the National Business Institute.

Testimony

  • National Bankruptcy Review Commission, Washington, D.C., Feb. 20, 1997.
  • National Bankruptcy Review Commission, Washington, D.C., May 14, 1997.
  • Administrative Office of the U.S. Courts, Advisory Committee on Bankruptcy Rules, Washington, D.C. Jan. 28, 1999.
  • House and Senate Conference Committee on HR 3150, Washington, D.C., Sept. 29, 1998.
  • Deputy Economic Advisor to the President Regarding HR 3150, Sept. 29, 1998.

Awards

  • Recipient of the President’s Cup (outstanding service, professional conduct, and demonstrating the highest levels of ethical, moral and civic responsibility), Commercial Law League of America (2013)

  • Honoree, Best Lawyers in America (2002-present)

  • Honoree, Michigan Super Lawyers (2006-present)

  • AV Peer Review Rated (Preeminent), LexisNexis/Martindale-Hubbell

  • Honoree, Chambers USA: America's Leading Lawyers in Business, 2007

  • Honoree, Midwest Top Rated Lawyer (2013-present)

  • Honoree, Leading Lawyers, American Lawyer Media (2016-present)

  • Honoree, DBusiness Top Lawyers (2011-2014)

Education

  • Wayne State University Law School
  • University of Michigan

Admissions

  • State - Michigan

Speeches and Publications

Publications

  • Author: "Forbearance Agreement Drafting Tips," Lease Enforcement Attorney Network (April 2018).
  • Author: "The Commercial Real Estate Receivership Act," Commercial Law World (April 2018).
  • Co-Author: "Representing the Creditors’ Committee—A Guide for Practitioners," ABI Unsecured Trade Creditors Committee (April 2016).
  • Author: "Think Long and Hard Before You Sign Your Client’s Proof of Claim Form," American Bankruptcy Institute Unsecured Trade Creditors Newsletter (March 2014).
  • Author: "Think Long and Hard Before You Sign Your Client’s Proof of Claim Form," Commercial Law League of America Newsletter (January 2014).
  • Author: "Consent Judgment or Default Judgment, It Makes a Difference," Commercial Law League of America Newsletter (January 2013).
  • Co-Author: "503(b)(9) Claimants—The New Constituent, a/k/a 'The 500 Pound Gorilla' at the Table," The Michigan Business Law Journal (Spring 2008).
  • Author: "Saving Graces—Ten Steps to Preserve and Improve Forbearance Programs," Equipment Leasing Today (March 2008).
  • Co-Author: "503(b)(9) Claimants—The New Constituent at the Table," Business Credit, a publication of the National Association of Credit Management (May 2007).
  • Co-Author: "503(b)(9) Claimants—The New Constituent, a/k/a 'The 500 Pound Gorilla' at the Table," De Paul Business & Commercial Law Journal (Spring 2007).
  • Author: "A Lessor’s Walk Down the Bankruptcy Aisle," Equipment Leasing Today (February 2007).
  • Co-Author: "WARN Poses Hurdle for Distressed Firms," The Bankruptcy Strategist, Volume VIII, November, 11 (October 1989).
  • Author: "Unpaid Administrative Claimant's Ability to Obtain a Surcharge," The Bankruptcy Strategist, Volume V, Number 1 (November 1987).
  • Author: "Undersecured Creditor Denied Interest, Lost Opportunity Costs," The Bankruptcy Strategist, Volume IV, Number 7 (May 1987).
  • Author: "An Overview of the Bankruptcy Judges, United States Trustees and Family Farmer Bankruptcy Act of 1986," 13 Michigan Real Property Review No. 4 (Winter 1986).
  • Co-Author: "Lost Opportunity Costs Denied by Fifth Circuit," The Bankruptcy Strategist, Volume III, Number 12 (October 1986).
  • Co-Author: "Creditors' Committee: Right to Initiate Suits," The Bankruptcy Strategist, Volume III, Number 10 (August 1986).
  • Co-Author: "Charting the Way to Perfecting Post-Petition Construction Liens," The Bankruptcy Strategist, Volume III, Number 4 (February 1986).
  • Co-Author: "Treatment of Land Contracts in Bankruptcy - Executory Contracts or Liens," 11 Michigan Real Property Law Review No. 4 (Winter 1984).
  • Co-Author: "The Bankruptcy Amendments and Federal Judgeship Act of 1984," 63 Michigan Bar Journal 775 (1984).
  • Co-Author: "The Effect of the Bankruptcy Amendments and Federal Judgeship Act of 1984 on the Real Estate Practitioner," 11 Michigan Real Property Law Review No. 3 (Fall 1984).

Speaking Engagements

  • "Bankruptcy Basics for Non-Bankruptcy Practitioners," Commercial Law League of America National Convention (May 19, 2022).
  • “Basic Bankruptcy From F to C (Filing to Confirmation); A practical Chapter 11 Overview for the Non-Bankruptcy Practitioner.” Commercial Law League of America Annual Conference (2019).
  • "The New Uniform Commercial Real Estate Receivership Act," Commercial Law League of America (May 2018).
  • "Basic Bankruptcy from F to C (Filing to Confirmation), A Practical Chapter 11 Overview for the Non-Bankruptcy Practitioner," Commercial Law League of America (November 2016).
  • "Hidden Assets in Consumer and Business Bankruptcy Cases," Commercial Law League of America (April 2016).
  • "Hidden Liens and Priorities," Commercial Law League of America (April 2015).
  • "Current Issues in Creditors’ Committee Representation," Commercial Law League of America (April 2014).
  • "Traps for the Unwary in the Courtroom," Commercial Law League of America (November 2012).
  • "Current Issues for Lessors and Lenders," Lease Enforcement Attorney Network Webinar (January 2012).
  • "The Practical Guide to Chapter 11 Administrative, Priority and Reclamation Claims," 27th Annual CLE Conference on Bankruptcy Law (January 2010).
  • "Hidden Liens and Other Traps for the Unwary," 26th Annual CLE Conference on Bankruptcy Law (January 2009).
  • "Structuring Asset Sales In and Out of Bankruptcy," Commercial Law League of America (November 2008).
  • "Hidden Liens," Equipment Leasing Association Legal Forum (April 2008).
  • "The Anatomy of a Forbearance Agreement," Equipment Leasing Association Legal Forum (April 2008).
  • "Trade Creditor New Status (or Not) Section 503(b)(9), Reclamation and Related Issues," 25th Annual National CLE Conference on Bankruptcy Law (January 2008).
  • "Navigating the Chapter 11," Equipment Leasing Association Legal Forum (May 7, 2007).
  • "BAPCPA: One Year Later, Small Business Bankruptcy Provisions," Debtor/Creditor Rights Committee, Business Law Section, State Bar of Michigan (Oct. 9, 2006).
  • "Bankruptcy Update: Bankruptcy Abuse Prevention and Consumer Protection Act," Equipment Leasing Association-Legal Forum (May 1, 2006).
  • "Negotiate or Litigate-A Roundtable Discussion," Equipment Leasing Association Legal Forum (May 2006).
  • "Business Bankruptcy: Aligning Your Practice With the New Bankruptcy Code Amendments," National Constitution Center (March 7, 2006).
  • "Early Implementation Issues Arising Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005," American Bankruptcy Institute Winter Leadership Conference (Dec. 2, 2005).
  • "Small Business Bankruptcy Provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005," Debtor/Creditor Rights Committee of the Business Law Section of the State Bar of Michigan (Aug. 24, 2005).
  • "New Bankruptcy Code Seminar, Business Bankruptcy Provisions," Cobo Center, Detroit, Michigan (June 3, 2005).
  • "Business Bankruptcy Practice Under the New Code," Telephonic Seminars Sponsored by the Commercial Law League of America (May 25, 2005 and June 22, 2005).
  • "Bankruptcy Reform: Understanding the 2005 Amendments to the Bankruptcy Code, Small Business, Bankruptcy Data, Bankruptcy Tax and Health Care Provisions," Cleveland Bar Association, Cleveland, Ohio (May 20, 2005).
  • "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005," Midwest Regional Meeting of the Commercial Law League of America (April 8, 2005).
  • "The Role of the Accountant in Assisting the Troubled Business In and Out of Bankruptcy," Michigan Association of Certified Public Accountants (April 29, 2003).
  • "New UCC Article 9— It’s Here and You Cannot Avoid It Any Longer," American Bankruptcy Institute Central States Bankruptcy Conference (June 8, 2001).
  • "Hidden Liens and Priorities," 2001 National CLE Conference, Bankruptcy Law (Jan. 10, 2001).
  • "Hidden Liens and Priorities," Midwestern/Southern Meeting of the Commercial Law League of America (March 4, 2000).
  • "Enforcement of Pre-petition Liens in Bankruptcy," 1999 National CLE Conference, Bankruptcy Law (Jan. 12, 1999).
  • "Overview of the National Bankruptcy Review Commission’s Official Report," 77th Regional Meeting of the Commercial Law League of America (Nov. 21, 1997).
  • "What the Bankruptcy Review Commission Should Consider," 75th Regional Meeting of the Commercial Law League of America (Nov. 17, 1995).
  • "Guarantor Liability - Issues Arising Under the Bankruptcy Code," First Annual Bankruptcy Law Update, Law Education Institute and The Bureau of National Affairs (Jan. 11, 1994).
  • "The Use of Experts in Chapter 11 Proceedings," Midwest Regional Conference of the Commercial Law League of America (March 26, 1993).
  • "Negotiating Cash Collateral and Interim Financing Orders - The Unsecured Creditors vs. The Secured Lender," Midwest Regional Conference of the Commercial Law League of America (April 11, 1992).
  • "Guarantor Liability - Issues Arising Under the Bankruptcy Code and Regulations B and Z," 69th Eastern Regional Meeting of the Commercial Law League of America (Nov. 17, 1989).
  • "How to Collect the Uncollectable - Recovery of Fraudulent Conveyances Under the Bankruptcy Code and Under the Uniform Laws," Midwestern Regional Conference of the Commercial Law League of America (March 22, 1988).
  • "Bankruptcy Litigation & Practice in Michigan," Professional Education Systems, Inc., (April 29, 1987).
  • "Corporate Reorganizations Under Chapter 11 of the Bankruptcy Code: The Role of the Accountant for the Chapter 11 Debtor," Oakland University, Division of Continuing Education, CPA Weekend (June 8, 1985 and June 6, 1987).
  • "Creditor Rights and Protection of Security Interests in Bankruptcy," National Business Institute (Aug. 2, 1985).