James A. Lodoen

Partner

lodoenj@ballardspahr.com
Tel 612.371.3234
Fax 612.371.3207
Minneapolis

James Lodoen represents lenders, debtors, committees, and buyers of assets in bankruptcy cases and workouts. Jim has represented the Chapter 11 Trustee of Petters Company Inc. and the Receiver of Thomas Petters following the unveiling of a $3.8 billion dollar Ponzi scheme. This representation included the unwinding of the scheme, litigating billions of dollars of clawback claims, liquidating assets and obtaining confirmation of a Chapter 11 Plan of Liquidation. He also has been involved in numerous Section 363 sales including the sale of assets of Polaroid Corporation as part of his representation of Polaroid in its Chapter 11 proceeding. Jim has represented borrowers, lenders, and trade creditors in the real estate, manufacturing, health care, biotechnology, life sciences, retail, agribusiness, farm, and agriculture sectors. Jim's farm and ranch background provides a practical understanding of issues pertinent to the current challenges facing production agriculture.

Jim is a frequent lecturer and author on various bankruptcy, debtor-creditor, and agriculture issues.

Representative Matters

  • Represented Douglas A. Kelley, Chapter 11 Trustee of Petters Company Inc., a $3.8 billion dollar Ponzi Scheme, in the pursuit of billions of dollars of clawback actions, the liquidation of assets and the administration of the Chapter 11 bankruptcy, including the negotiation of a Coordination Agreement with several Trustees, a Receiver and the U.S. Attorney's Office to avoid forfeiture litigation
  • Represented Section 1345 Federal Receiver over dozens of individuals and entities affiliated with the $3.8 billion dollar Ponzi scheme orchestrated by Thomas Petters and others including the litigation of many fraudulent transfer and unjust enrichment cases
  • Represented Polaroid Corporation as debtor-in-possession in a Chapter 11 bankruptcy resulting in the sale of its assets through a Section 363 sale for approximately $85 million
  • Represented Project Viking II Acquisition, Inc. a subsidiary of ARI Network Services, Inc. in a heavily contested acquisition of the Retail Services Division of Fifty Below Sales & Marketing, Inc. and in litigation against former employees to recover trade secrets and confidential information. This acquisition was recognized by the Upper Midwest Turnaround Management Association as the 2013 "Transaction of the Year"
  • Represented Bolger Publications in the acquisition of Diversified Graphics through a 363 sale which was recognized by the Upper Midwest Turnaround Management Association as the 2008 Transaction of the Year
  • Represented EFI Holdings a California private equity fund in the acquisition of Hitchcock Industries (aircraft industry foundry) for $46 million through a Section 363 sale out of a Chapter 11 bankruptcy in Minnesota
  • Represented Plains Commerce Bank as secured creditor and card issuer in the Credit Store Chapter 11 case in South Dakota
  • Represented Minnesota Diversified Industries, a non-profit employing hundreds of special needs employees, in an out of court restructuring that was recognized by the Upper Midwest Turnaround Management Association as 2008 "Turnaround of the Year"
  • Represented NoDak Supply Company of Fargo, N.D. in the sale of its business to Karl's TV, Audio, Appliance and Furniture in Gregory, South Dakota
  • Represented a Forbes 100 food manufacturer and distributor in asserting reclamation and other claims and in defending preference actions in numerous national bankruptcy proceedings including K-Mart, Fleming Foods, Penn Traffic, Buehler foods and Winn-Dixie Chapter 11 proceedings in Delaware, New York, Chicago and elsewhere
  • Represented Creditors Committee in Zych farm Chapter 11 proceeding
  • Represented Wisconsin Community Bank as secured lender in agribusiness Chapter 11 cases of Denison Foods, LLC (Kansas) and Premium Protein Products (Nebraska) and resulting 363 sale
  • Represented Medallion Capital Inc. in structuring several mezzanine financing transactions and ongoing restructuring issues related to certain credit facilities

Professional Activities

Minnesota Bar Association, Bankruptcy Section

American Bankruptcy Institute, Central States Conference Advisory Board

Turnaround Management Association

Dakota County Bar Association

Minnesota State Bar Association

Recognitions and Accomplishments

The Best Lawyers in America, bankruptcy litigation, bankruptcy and creditor debtor rights/insolvency and reorganization law, 2010-2020; "Lawyer of the Year," Litigation - Bankruptcy (Minneapolis), 2014, 2018, 2020

Minnesota Lawyer, Attorney of the Year, 2016

American College of Bankruptcy, Fellow

Certified in Business Bankruptcy Law, American Board of Certification

Minnesota Super Lawyers 1997, 2002, 2004-2005, 2007-2008, 2010-2020

Martindale-Hubbell AV Preeminent® Rated

Senior Editorial Staff, North Dakota Law Review, 1984-1985

Publications

Co-author and co-presenter, "Involuntary Bankruptcy," Minnesota Debtor Creditor Handbook, 1999, then bi-annually 2002-2018

Co-author and presenter, "Discharge and Nondischargeability of Debts in Minnesota," Bankruptcy Practice in Minnesota Deskbook, 2012, then bi-annually 2014-2018

Speaking Engagements

Co-author and presenter, "Does this Tractor Run – Fuel It, Fix It, Or Sell It," Minnesota Bankruptcy Institute, October 2019

"Preparing for the Next Recession," Co-Presenter American Bankruptcy Institute Central States Bankruptcy Workshop, June 2019

"Ponzi Schemes and Coordination in Bankruptcy and Litigation," Co-Presenter National Forensic Accounting Conference of American Institute of Certified Public Accountants, 2018

2017 Advanced Lending Seminar, Complimentary Seminar, May 2017

"The Rights of Secured Creditors in a Commercial Fraud Case-Creditors' Rights in Federal Forfeiture Proceedings," Co-Presenter American Bankruptcy Institute Annual Meeting, April 2017

"Two for the Price of One: Achieving Asset Protection with Estate Planning," Co-Presenter The Nancy C. Dreher Lecture on Bankruptcy Law and Practice, American College of Bankruptcy and University of Minnesota Law School, 2017 

"Trustee Selection in Commercial Bankruptcy Estates: Who Wins the Battle to Control the Estate?" Co-Presenter American Bankruptcy Institute Annual Meeting, April 2015

"The Intricacies of Section 363 Sales," Co-Presenter, American Bankruptcy Institute Central States Bankruptcy Workshop, June, 2014

Co-presenter, "Non-Profit Entities as Debtors, Creditors and Avoidance Targets: Navigating Bankruptcy and Other Applicable Laws as Charitable and Non-Charitable Objectives Collide," Minnesota State Bar Association webinar, September 9, 2013

"Hot-Topics in Single-Asset Real Estate Reorganizations," Co-Presenter, American Bankruptcy Institute Midwestern Bankruptcy Institute and Consumer Forum (Kansas City, MO), March, 2013

"Fraudulent Conveyances & Ponzi Schemes," Co-Presenter, Hot Issues Seminar, Minnesota State Bar Association, October, 2012

Co-author and presenter, "What Happens After the Closing: A Study of Issues that Arise Post-Closing from a Seller's, Buyer's and Secured Lender's Perspective," American Bankruptcy Institute Winter Leadership Conference, July, 2012

"Involuntary Bankruptcy," Co-Presenter, Debt Collection Seminar, Minnesota State Bar Association, May, 2012

Co-author and presenter, "Non-Profit Entities as Debtors, Creditors and Avoidance Targets: Navigating Bankruptcy and Other Applicable Laws as Charitable and Non-Charitable Objectives Collide," Minnesota Bankruptcy Institute, February, 2012 

"Parallel Proceedings in United States District Court and United States Bankruptcy Court," Co-Presenter Annual Seminar of Minnesota Federal Bar Association, 2011 "Business Bankruptcy Basics for the Generalist," Moderator and Co-Presenter Hispanic National Bar Association National Convention, 2010 "Bankruptcy Playbook: Business Basics for the Generalist," Moderator and Co-Presenter National Association of Corporate Counsel Annual Meeting, 2009

Community Activities

FarmHouse Fraternity Foundation, past Trustee

Trinity School at River Ridge, Capital Campaign, past Member

Interfaith Outreach and Community Partners, past Board Member

Visitation School, past Board Member

University of North Dakota School of Law (J.D. 1985)

North Dakota State University (B.S., Agricultural Economics and Animal Science, 1982)

North Dakota

Minnesota

Kansas