Bush, Strout & Kornfeld LLP
James L. Day, Partner
VCard for James L. Day
206 521-3858
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Jim Day has significant experience representing clients in a variety of industries, including commercial and residential real estate development, manufacturing, high tech and internet-based entities, wholesale distribution; fishing and maritime, telecommunications and franchise restaurants.

Representative Cases

TC Global, Inc. (Tully's Coffee) The firm represented TC Global, Inc. (Tully's Coffee) in its sale process through Chapter 11, working with the company to set up an auction process and completing the details which lead to a closed-sale transaction sufficient to pay creditors all, or nearly all of their debt.  The process generated a greater return than estimated by financial professionals and proceeds are being distributed to unsecured creditors.

Builders and Developers Mr. Day has represented numerous commercial and residential builders and developers in connection with bankruptcy reorganizations and in out-of-court workout negotiations with lenders towards a restructure of debt obligations and disposition of collateral. These engagements have each typically involved the restructure of secured obligations of numerous lenders holding debt totaling from $20 million to more than $500 million. Mr. Day recently obtained confirmation of a plan in an individual Chapter 11 case.

Pierce County Housing Authority Mr. Day represented Pierce County Housing Authority in its Chapter 9 municipal bankruptcy, the first Chapter 9 in Western Washington in approximately 20 years. PCHA owns and operates 14 housing apartment complexes and a number of other single-family residences in Pierce County, and serves thousands of individuals with low or moderate income in Pierce County. The bankruptcy was filed to allow PCHA to adjust its obligations. After long and difficult negotiations, a consensual Plan for the Adjustment of Debts was presented and approved by the bankruptcy court that allowed PCHA to successfully retain each of its properties and maintain its operations.

In re Coast to Coast Seafoods, Inc. Coast to Coast was a $100 million fresh and frozen seafood distributor hit hard by a collapse in the frozen shrimp market as well as by a secured lender that sought to exit the industry by systematically reducing Coast to Coast’s funds availability. Mr. Day represented Coast to Coast in connection with a Chapter 11 filing and confirmation of a plan through which approximately $16 million of secured debt was fully paid and a significant dividend was paid to unsecured creditors.

Skippers Mr. Day represented Skippers, previous owner and operator of more than 70 seafood restaurants in several states in its Chapter 11 case. Skippers completed an asset sale and completed distributions to creditors.

Seagulf Group LLC. Seagulf Group developed a luxury condominium project, but became unable to sell its units, following disputes with its general contractor and the filing of construction liens. Mr. Day represented Seagulf Group in connection with a Chapter 11 bankruptcy filing and the subsequent confirmation of a plan that allowed for the resumption of sale activities and the eventual sale of all units and a resolution of the various lien claims.

Deep Pacific Fishing Co. Deep Pacific owned and operated two long-line fishing vessels. Due to a change in the law regarding foreign ownership of US-flagged vessels and a resulting dispute between the debtor’s two owners, a Chapter 11 bankruptcy was commenced. Mr. Day represented Deep Pacific in proceedings that eventually led to the auction sale of the vessels for almost $10 million, an amount that paid all claims in full and returned substantial value to the two owners.

Professional Activities and Memberships

  • Law Clerk to Judge Sidney C. Volinn, U.S. Bankruptcy Court, Western District of Washington, on both trial matters and appeals before the Bankruptcy Appellate Panel of the Ninth Circuit
  • Admitted to practice in Western and Eastern Districts of Washington; Ninth Circuit Court of Appeals
  • Member, American Bankruptcy Institute
  • Member, Turnaround Management Association
  • Member, King County Bar Association, Creditor-Debtor Section
  • Member, Washington State Bar Association
  • Member, California Bar Association (inactive)
  • Member, Federal Bar Association, Creditor-Debtor Section

Reported Cases

  • In re Video Depot. Ltd., 127 F.3rd 1195 (9th Cir. 1997)
  • In re Kemp Pacific Fisheries, Inc., 16 F.3d 313 (9th Cir. 1994)
  • In re Precision Autocraft. Inc., 197 BR 901 (Bankr. W.D. Wash. 1996)

Honors

  • The Best Lawyers in America, 2012–2014 editions (Bankruptcy and Creditor-Debtor Rights Law)
  • Washington Law & Politics Super Lawyers® 2001–2014
  • Washington Law & Politics Super Lawyers® Top Washington Business & Transactions Lawyers, 2012–2014
  • Seattle Business Magazine’s Best Business Lawyers, Bankruptcy Section, 2013
  • Seattle Magazine’s Top Lawyers, Bankruptcy Law Section, 2010
  • Martindale Hubbell AV-rated

Presentations

  • Executory Contracts and Unexpired Leases, Washington State Paralegal Association
  • An Overview of Chapter 11: Leases; preferences; cash collateral; Chapter 11 plan process; involuntary bankruptcy, Washington State Bar Association
  • Automatic Stay, Relief from Stay, Mortgage Arrearages, Objections to Confirmation, Washington Law Institute
  • Gambling and Fraudulent Conveyances: Current Issues of Recovery of Fraudulent Transfers, King County Bar Association
  • The Challenges Ahead in Residential Real Estate Development: The Borrowers Perspective, Lorman Business Center
  • Real Estate Insolvencies and Restructuring in and Outside of Bankruptcy, 21st Annual Bankruptcy Institute, Oregon State Bar
  • Real Estate Litigation: Attaining Results and Avoiding Pitfalls, Washington State Bar Association
  • Bankruptcy Section Amendments to Chapter 11 Under Bankruptcy Abuse Consumer Protection Act 2005, King County Bar Association

Education

  • Bachelor of Arts, Economics, University of Washington, 1987
  • Juris Doctor, University of Washington, 1990
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