Mr. Jay L. Welford, Partner

Professional Experience

Jay was admitted to practice law in Michigan in 1982. He is Co-Chair of thefirm's financial services practice group, and has focused his practice in theareas of bankruptcy, finance, creditors' rights and corporate law. Jay chairsthe Legislative Committee of the nation's largest creditors' rightsorganization, the Commercial Law League of America, and has held numerousoffices within that organization. Jay is at the forefront of the bankruptcyreform process currently ongoing in Washington, having made several appearancesbefore the House and Senate, and having testified on numerous occasions onissues relating to bankruptcy reform.

Areas of Emphasis

Bankruptcy and Insolvency Law

Jay has represented lenders, creditors committees, debtors, lessors and amyriad of other parties in bankruptcy and insolvency transactions, involvingvery diverse product and service areas, including automotive, retail,industrial, construction, distribution and franchising.

Loan Origination

Jay has represented numerous banks and other financial institutions withrespect to the origination of loans to borrowers engaged in various businesssectors.

Loan Workout

Jay has handled a multitude of loan workout transactions on behalf of variousclients, both lenders and debtors, including forbearance arrangements, surrenderagreements, assignments for the benefit of creditors, trust mortgagearrangements, deed in lieu transactions, claim and delivery proceedings andforeclosure actions.

General Corporate

Jay also has a significant general corporate practice, representing numerouslarge and small businesses. Jay has a specific expertise in the representationand formation of businesses certified as minority business enterprises.

Equipment Leasing

Jay represents a variety of leasing companies with respect to the normalspectrum of leasing activities, including lease origination and recovery.