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About Luke Smith
Luke Smith graduated from the University of Tennessee College of Law with a concentration in Business Transactions and now works for Kirkland & Ellis. Smith is the Editor-in-Chief of Transactions: The Tennessee Journal of Business Law, and recently co-authored an article titled "Perfect Civil Enforcement? Litigation Financing in the Wake of Gawker Media v. Bollea." Academically, Smith has focused almost exclusively on business law, with a particular emphasis in bankruptcy and restructuring, transactional tax planning, and corporate finance.
Smith's legal work experience includes clerking for a summer at the United States District Court for the Eastern District of Tennessee. He also worked for 8 months in-house at a Department of Energy Prime Contractor, assisting the Legal Department on issues involving government contracting and real estate law, and also assisting the Technology Transfer Department with the creation, maintenance, and commercialization of the company's intellectual property portfolio.
Prior to law school, Smith attended the University of Chicago where he received a Bachelor of Arts degree in Philosophy and was a member of the varsity football team. While an undergraduate, Smith taught English and traveled in India and Europe, and also worked at a boutique real estate development consulting firm. Between his undergraduate studies and law school, Smith worked as a production assistant at Jupiter Entertainment.
Articles by Luke Smith
Chilled Credit Bidding and the Section 363 Sale Section 363(k) of the Bankruptcy Code (the “Code”) allows a secured creditor to bid at a section 363 sale and use the amount of their claim to offset the purchase price at the sale, called “credit bidding.” A court may limit this right “for cause.” The “for cause” standard is not defined in the Code, and disagreement exists as to what constitutes “for cause.” Traditional bases for limiting credit bidding include challenges related to the lien itself, failure to correctly assert the […]
There is a seeming irony here in that a company that files for bankruptcy often does not have the cash to do so. That’s where DIP financing comes in.
This series was started with a broad overview of business bankruptcy, but our last few installments have focused on: unsecured creditors the priority scheme in bankruptcy protecting/collecting your claim In this installment, we draw on our discussion of the priority scheme, with a special focus on super and residual priorities. As previously discussed, not all claims are treated the same. At its foundation, claims can be divided into two general buckets—secured and unsecured. If there is collateral securing the claim, it is secured. If not, it’s unsecured. However, Congress decided […]
This series was started (click here to read from the beginning) with a broad overview of business bankruptcy but our last few installments have focused on unsecured creditors (click here to read about unsecured creditors) and the priority scheme in bankruptcy (click here for the 30,000-foot view or you can find more specific treatment here, here and here). In this installment, we move on to the nuts and bolts of filing, preserving and protecting your claim in bankruptcy. A. File Proof of Claims and Adhere to Bar Dates to Protect Your Claim Of all bankruptcy […]
A written tour of business bankruptcy and its alternatives. If you would like to read from the beginning, this series started here with a broad overview of business bankruptcy. Most recently, the series has focused on the automatic stay, where you can find the 30,000-foot view. Or you can find more specific treatment here, here and here. In this installment, we give a crash course from a particular perspective – the unsecured creditor. When a debtor files for bankruptcy, creditors hold different types of claims or interests against the debtor’s estate. Generally, […]