Karl J. Johnson

Associate Minneapolis

Summary

Karl Johnson brings comprehensive experience to his bankruptcy practice.

Before joining Taft, Karl had represented debtors in bankruptcy cases under chapters 7, 11, and 13 and secured and unsecured creditors in bankruptcy cases under chapters 7, 11, 12, and 13. Before that, he represented trustees in bankruptcy cases under chapters 7 and 13.

His clients include individuals facing financial difficulty, small and large businesses, and institutional creditors. Karl also has experience drafting loan documents, litigating creditor-debtor and inter-creditor disputes, and handling collections.

Karl has appeared as attorney of record in thousands of bankruptcy cases and has prevailed on multiple issues of first impression. He has successfully defended two appeals, one before the United States District Court for the District of Minnesota and the other before the Bankruptcy Appellate Panel for the Eighth Circuit. Karl previously clerked for the Chief Bankruptcy Judge the Hon. Gregory F. Kishel, District of Minnesota and was staff counsel to the Standing Chapter 13 Bankruptcy Trustee for the District of Minnesota.

Karl regularly publishes and lectures on bankruptcy issues. He is also conversational in the Korean language.

Awards

  • Honoree, 2018 Raeder Larson Public Service Award 

  • Honoree, Super Lawyers Rising Stars 

  • Honoree, Ones to Watch, Best Lawyers in America, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (2021)

Education

  • University of Minnesota Law School (2010)

    Magna Cum Laude

  • University of Michigan, M.A. (2002)
  • Sarah Lawrence College, B.A. (1996)

Admissions

  • Federal - District of Minnesota
  • Federal - 8th Circuit Court of Appeals
  • Federal - U.S. Bankruptcy Court for the Central District of Illinois

Notable Matters

  • Represented a client in a bankruptcy adversary proceeding, resulting in state court sanctions being excepted from discharge
  • Defended a bankruptcy adversary proceeding based on allegations of fraud, resulting in dismissal of the complaint
  • Settled a seven-figure fraudulent transfer action for less than 8% of the amount in controversy
  • Negotiated adequate protection that resulted in larger plan payments for a bank client
  • Successfully argued that a nonprofit organization cannot be classified as a small business debtor in a Chapter 11 case and cannot be burdened with the additional procedural requirements that are imposed on a small business debtor
  • Represented debtor in the first confirmed plan in the Eighth Circuit under subchapter V of chapter 11
  • Represented debtors in the chapter 11 bankruptcy case of a restaurant chain with locations in more than a dozen states
  • Negotiated to settle a $1.5 million preference claim for only $170,000

Speeches and Publications

Selected Publications

  • Author, Real Estate in Bankruptcy, 25 MINNESOTA PRACTICE—REAL ESTATE LAW, Ch.7 (Wertheim ed., 2019-2020 ed.) 
  • Co-Author, "Sale of Assets," Bankruptcy Practice in Minnesota Deskbook (Larison, Running and Stewart eds., 1st ed., 2016 update; 2nd ed., 2018)
  • Co-Author, "Bankruptcy Basics," Representing the Ongoing Business Deskbook, (Willeke edition, 2nd edition, 2017 and 2018 update)
  • Co-Author, "Vesting With or Without Agreement: Implications for Due Process," National Association of Chapter Thirteen Trustees Quarterly, Vol. 8, No. 3, at 21 (2nd Qtr. 2016)

Selected Speeches

  • Case Law Update, Minnesota Bankruptcy Institute, October 3, 2019
  • “Contracts in Bankruptcy,” Minnesota CLE, August 27, 2019
  • “I Take Exception to Your Discharge: Current Developments in Dischargeability Actions,” Minnesota State Bar Association, July 16, 2019.
  • Bankruptcy Case Law Update Webinar, May 31, 2019
  • Case Law Update, Minnesota Bankruptcy Institute, October 4, 2018.
  • "Business Bankruptcy Roundtable," Minnesota Bankruptcy Institute, October 24, 2017.
  • "New Law & Significant Issues in Bankruptcy: Asset Sales," Minnesota CLE, July 26, 2017.
  • "Effectively Utilizing Chapter 12 Bankruptcy as a Tool in Agricultural Workouts," Independent Community Bankers of Minnesota Webinar, March 8, 2017.
  • "What Can You Do With Property Nobody Wants? Vest: Opportunities for Debtors and Pitfalls for Secured Creditors," Minnesota State Bar Association Bankruptcy Section, February 21, 2017.

Professional Affiliations

  • Minnesota Asian Pacific American Bar Association

    Member

  • Hennepin County Bar Association

    Member

  • American Bankruptcy Institute

    Member

  • Risk Management Association

    Member

  • Korean American Bar Association

    Member

  • Minnesota State Bar Association
    • Member
    • Bankruptcy Section: Pro bono Committee Member and Education Chair
    • Bankruptcy Bulletin, Co-Editor-in-Chief
  • Turnaround Management Association

           Member

  • Volunteer Lawyers Network

           Board of Directors

Community Involvement

  • Credit Abuse Resistance Education

     Volunteer