Kit Weitnauer is the leader of Alston & Bird's Bankruptcy & Financial Restructuring Practice Team. His recent experience includes representing clients with significant roles in the Lehman Brothers, Residential Capital, Enron, Taylor Bean & Whitaker, Spectrum Brands and IndyMac Bancorp bankruptcies.
He served as plaintiffs' trial counsel (along with local co-counsel) in a five-week jury trial in Oregon that resulted in a verdict that found over $965 million in transfers were made with the actual intent to hinder, delay or defraud his client and that awarded $350 million in punitive damages to his client.
Kit is a Fellow in the American College of Bankruptcy. In 2014 he was named the Atlanta Bankruptcy Litigation "Lawyer of the Year" by The Best Lawyers in America©, which has recognized his skill since 1996. Kit has been profiled in Chambers USA: America’s Leading Lawyers for Business in the field of Bankruptcy/Restructuring since 2007.
He is the author of The Bankruptcy Court’s Watchdog: The Appointment, Role and Power of Examiners Today, co-author of Business Valuation and Bankruptcy and co-author of Problem Loan Strategies. He is a contributing editor of Norton Bankruptcy Law and Practice and the Bankruptcy Litigation Manual.
Kit is a frequent speaker on a wide range of bankruptcy topics.
- Represents a major national bank in its role as trustee of RMBS trusts asserting “rep and warranty” claims in the Lehman Brothers bankruptcy.
- Represented a major national bank in its role as trustee or master servicer of hundreds of RMBS trusts in the Residential Capital bankruptcy.
- Represented a major national bank in its role as master servicer of 12 RMBS trusts holding $3.9 billion in assets in the Taylor, Bean & Whitaker bankruptcy.
- Lead trial counsel to the Official Committee of Equity Security Holders in the contested plan confirmation hearing in the Spectrum Brands Chapter 11 case.
- Represented a special committee of a board of directors regarding restructuring matters.
- Represented two shareholders/creditors in a holding company bankruptcy filed in Delaware.
- Represented various clients with various issues (swaps, swap terminations and structured finance deals, among others) in connection with the Lehman Brothers bankruptcy.
- Plaintiffs’ trial counsel (together with Oregon co-counsel) in a complex fraudulent transfer case that resulted in a jury verdict that (1) approximately $1 billion in assets had been transferred with actual intent to hinder, delay or defraud the plaintiffs; and (2) awarded the plaintiffs $350 million in punitive damages.
- Counsel for the debtor in possession in the cases of Scovill Fasteners Inc. (Section 363 sale); Galey & Lord LLC (Section 363 sale concluded in three months); Sport Court Inc. and American Athletic Inc. (Section 363 sales of two related companies concluded in two months); KinderCare Learning Centers LLC (pre-arranged plan for $600 million in debt confirmed within several months after filing); and Cajun Electric Power Cooperative ($5 billion restructuring with the REA).
- Special counsel to First American Healthcare (honored as the “Turnaround of the Year” by the Atlanta chapter of the Turnaround Management Association).
- Represented the examiner in both the Enron and the Southmark bankruptcy cases. In the Enron examination, he was the author of “Legal Standards” contained in the examiner’s reports and also served as the reporter for the “Role of Enron’s Attorneys” and one of the two reporters for the “Role of JPMorgan Chase.”
A variety of methods may be appropriate, depending on the context, to value contingent or disputed assets or claims in solvency opinions. These include probability discount, hindsight, and traditional valuation of future earnings. Other more novel possibilities are the cost of insurance or Monte Carlo simulation. The authors discuss the cases, and the uses and limitations of the various methods.
The Bankruptcy Court’s Watchdog: The Appointment, Role and Power of Examiners Today, American Bankruptcy Institute, 2011.
- American Bar Association, Subcommittee on Bankruptcy Litigation, co-chair (2013–2015)
- American Bar Association, Subcommittee on Bankruptcy Committees, chair (2011–2013)
- American Bar Association, Subcommittee on Abuses of the Bankruptcy System, chair (2009–2010)
- Turnaround Management Association Atlanta Chapter, president (2015-2016), president-elect (2014-2015), secretary (2013), board of directors (2010-present)
- American Bankruptcy Institute, Advisory Committee (Governance) to the ABI Commission to Study the Reform of Chapter 11 (2012-present)
- American Bankruptcy Institute Journal, associate editor (2011–2013)