James W.
O'Mara
111 East Capitol Street, Suite 600
Jackson , MS 39201-2122
Direct: (601) 360-9720
Fax: (601) 360-9777
e-mail: omaraj@phelps.com
Service Areas
Bankruptcy and Creditor's Rights
Business and Finance
Commercial Litigation
Practice
Jim is a senior partner in the business group in the Jackson office. He practices in the areas of bankruptcy and creditors' rights, loan workouts, secured lending, commercial litigation and business transactions. Jim is among a select group of lawyers, recognized in the category of Corporate/Commercial: Bankruptcy, listed in a nationwide client survey published in Chambers USA, America's Leading Lawyers for Business and has also been recognized by the publication The Best Lawyers in America.
Education
- University of Mississippi, J.D., with distinction, 1967; Editor-in-Chief, Mississippi Law Journal; Phi Delta Phi; Phi Kappa Phi; Omicron Delta Kappa
- University of Mississippi, B.A., 1962
Memberships/Affiliations
- Member: The Mississippi Bar (Fellow; Business Law Section; various committees); American Bankruptcy Institute; Mississippi Bankruptcy Conference (initial president; board member); Jackson Prep School (Board of Directors and President); University of Mississippi School of Law Alumni Board of Directors; Jackson Chamber of Commerce (Transportation Committee); American Hereford Association (Board of Directors and Executive Committee); Woodland Hills Baptist Academy (Board of Directors and President); Woodland Hills Baptist Church (Board of Deacons and Chairman); Good Hope Baptist Church (Board of Deacons and Chairman); Downtown Jackson Partners, Inc. (Jackson downtown business improvement district, Board of Directors and Chairman of Budget and Nominating Committees); named in Best Lawyers in America; involved with various fund raising campaigns in Jackson
Publications/Speeches
- Active speaker at seminars on bankruptcy, UCC, foreclosure, and lender liability.
Representative Matters
- Lead attorney for the Debtor in the Mississippi Chemical Corp. consolidated cases, which were the largest, most complex Chapter 11 cases ever filed in Mississippi and resulted in an unprecedented successful confirmed Plan of Reorganization in a case in which the Unsecured Creditors Committee, the pre-petition secured creditor group, the multiple groups of post-petition lenders and investors, and other significant parties were all represented by major New York City and Chicago law firms.
- Attorney for majority shareholders of a significant multi-state trucking company which was Debtor in a Chapter 11 case, and author of the Plan of Reorganization which was successfully confirmed and performed.
- Lead attorney for investor group which purchased substantially all operating assets from the Freide Goldman multi-state shipyard Chapter 11 case and which engaged in multiple complex loan and bond transactions with national lenders and governmental entities for continuing operations.
- Lead attorney for major hotel and marina owner as Chapter 11 Debtor for whom a Plan of Reorganization was confirmed and performed.
- Representation of national lender in connection with pre-petition secured loans of $20 million plus and post-petition DIP financing concerning public-company tire manufacturer, with result that all credit extended by client was fully recovered.
- Representation of another national lender with large loans to Chapter 11 trucking company debtor secured by fleet of trucks in negotiating and enforcing agreements and orders for adequate protection payments.
- Representation of another national lender with pre-petition loans of $30 million plus and post-petition DIP financing concerning a publicly*-held, national truckstop debtor, with result that client received essentially all assets of estate through complex Chapter 11 Plan of Liquidation, which was confirmed and which included liquidating trust provisions and avoiding extensive environmental exposures.
- Representation of large insurance company with secured claims in separate operating cases by major hotel debtor and shopping center debtor, with result that early relief from stay and foreclosure of the hotel was achieved and that a consensual Chapter 11 plan was negotiated and confirmed for the shopping center.
- Representation of two large national banks in connection with secured loans in separate Chapter 11 cases, with one resulting in obtaining the first relief from stay granted against a publicly-held furniture manufacturing company so that foreclosure of its executive offices and manufacturing plant could occur and the other resulting in recovery of all proceeds of machinery and equipment collateral from a consensual sale.
- Representation of publicly-held casino in successful defense of numerous claims by Chapter 11 casino debtor and ultimate negotiation and documentation of purchase of casino barge by client from bankruptcy estate.
- Representation of state bank in numerous loan workout situations and foreclosure actions.
- Representation of a variety of creditors in successfully defending preferential transfer actions by bankruptcy estates in numerous cases.
- Representation of unsecured creditors committee in consolidated Chapter 11 case for four furniture manufacturing company debtors which resulted in confirmation of a consensual reorganization plan.
- Representation of large insurance company in negotiating and documenting investments in major telecommunication venture and in new power generating plant.
- Representation of national lender in negotiating and documenting new secured financing to oil field operator for restructuring and leveraged buyout.
- Representation of another national lender in connection with substantial increase in lending limits for regional department store borrower, secured by real estate.
- Representation of two New York money-center banks in documenting the Mississippi aspects of separate major lending transactions, one involving a multi-state warehouse operation and the other involving the construction of a new power generating facility, with the latter also including substantial real estate, regulatory and environmental work.
- Representation of computer software company in negotiating and documenting sale of business and assets to New York-based national competitor.
- Representation of telecommunication company in negotiating and documenting sale of business and assets to expanding local competitor.
- Representation of national real estate company in connection with document and due diligence for purchase of three large apartment complexes.
- Representation of numerous Mississippi corporations in connection with miscellaneous business, contract and general corporate matters and advice.
- Representation of individual shareholders in two separate significant shareholder disputes, one involving a major construction company and the other involving a large catfish-growing company, both of which resulted through negotiation in a favorable settlement agreement.
- Representation of an attorney in successfully defending a legal malpractice claim asserted by a bankruptcy estate, with the result that court fully granted the motion to dismiss on collateral estoppel principles.
- Representation of purchaser of a retail tire company in successfully defending a state court action by seller for alleged misrepresentation and fraud in the sale.
- Representation of holder of promissory note in successfully suing FDIC/RTC in federal court for recovery of balance under promissory note issued by failed S&L.