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2010 – FIRM CONTINUES TO REPRESENT NUMEROUS REAL ESTATE ENTITIES IN ATTEMPTING TO RESTRUCTURE LOAN OBLIGATIONS OUTSIDE OF COURT Faced with the continuing problems confronting the real estate segment of the economy, Stichter Riedel continues to represent numerous home builders, developers, and land owners involved in many different types of real estate development, from the construction of single family houses to condominium developments to land development. The firm continues to seek creative solutions that will maximize the value of the real estate holdings for the benefit of all parties while addressing liquidity and cash flow issues that are frequently prevalent in these matters.

COURT CONFIRMS PLAN OF REORGANIZATION FOR PLANFIRST FINANCIAL SOLUTIONS, INC. – AUGUST 2010 Richard Prosser and Amy Denton Harris led the representation of PlanFirst Financial Solutions, Inc. and its affiliated entities. PlanFirst is a credit counseling and education based organization dedicated to providing personal money and debt programs to consumers. On August 12, 2010, the United States Bankruptcy Court for the Middle District of Florida entered an order confirming the Debtors’ Joint Plan of Reorganization which paid all creditors in full. PlanFirst Financial Solutions, Inc. successfully resolved litigation with its principal creditor and avoided a week long trial.

E-BRANDS RESTAURANTS, LLC AND ITS AFFILIATED ENTITIES FILE FOR RELIEF UNDER CHAPTER 11 – JULY 30, 2010 On July 30, 2010, E-Brands Restaurants, LLC and its affiliates filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the Middle District of Florida. E-Brands operates Timpano Italian Chophouse & Martini Bar in Tampa, Ft. Lauderdale and Orlando, Florida and in Rockville, Maryland. It also operates Aquaknox restaurants in Tampa and Las Vegas, Nevada. Both Timpano and Aquaknox are upscale dinning establishments. Along with the Aquaknox restaurant in Las Vegas, the Debtors operate Taqueria Canonita and Canonita Express in the Grand Canal Shoppes at the Venetian Hotel Resort Casino. The Debtors operate Samba Room restaurants in Orlando, Florida and Denver, Colorado. Richard Prosser and Steve Leslie head up the firm’s representation.

SALE OF LUXURY REAL ESTATE DEVELOPMENTS IN NAPLES APPROVED IN CHAPTER 11 - July 2010 On July 2, 2010 and July 12, 2010, the United States Bankruptcy Court for the Middle District of Florida entered orders approving the sale and related assumption of certain contracts associated with four luxury model homes and 56 improved lots in the affluent Grey Oaks golf community. The property is located in a high-end real estate development off Airport-Pulling Road on the northeast border of Naples, in the single-family developments of Miramonte and Torino in Grey Oaks. The approved “stalking horse” bid of $11.8 million for the property resolved a nearly $18.9 million mortgage originated with Bank of America. AGR TM LLC, a limited liability company incorporated in Delaware, acquired the property at the sale. AGR is a group of out-of-town institutional investors, with The Ronto Group acting as their local partner. The sale allows for guarantors with liability for deficiency exposure to obtain a release of monetary liability on the underlying debt to the lender. The case is part of a group of related Chapter 11 cases pending since October 2009. Stephen Leslie has served as counsel for the debtors.

COURT CONFIRMS PLAN OF REORGANIZATION FOR ALPHAROCK LLC AND ITS SUBSIDIARIES - July 2010 Edward Peterson and Amy Denton Harris led the representation of AlphaRock LLC and its subsidiaries that own and operate Dunkin' Donuts restaurants throughout Southwest Florida. Collectively, the Debtors currently operate in southwest Florida a total of fifteen (15) Dunkin Donut franchised restaurant locations,. The Debtors’ franchise network is the largest network on the west coast of Florida. In addition, the Debtor, Alpha CML LLC, operates a bakery which provides the baked products for the Debtors’ restaurants, as well as approximately seventeen (15) restaurants for other franchises. On July 6, 2010, the United States Bankruptcy Court for the Middle District of Florida entered an order confirming the Debtors' joint plan of reorganization, pursuant to which the debt was restructured and the Debtors will remain in business.

AMY DENTON HARRIS BECOMES A SHAREHOLDER – July 2010 Stichter, Riedel, Blain & Prosser is pleased to announce that Amy Denton Harris, who joined the firm in 2003, has been named a shareholder. Amy is actively involved in the firm's reorganization, work-out, and state court practice. She is a member of the Business Law Section of The Florida Bar. Amy received her J.D., with honors, from the University of Florida College of Law, her Bachelor of Science, Accounting, cum laude, from the University of South Florida, and her Master of Accountancy degree from the University of South Florida. She also is licensed as a certified public accountant, is past chair and currently serves on the Board of Directors of the Accounting Circle at the University of South Florida.

STICHTER RIEDEL AGAIN RECEIVES HIGHEST RECOGNITION IN CHAMBERS USA 2010 GUIDE - JULY 1, 2010 For the eighth consecutive year, the firm received a first tier rating for its bankruptcy and reorganization practice in Chambers USA 2010 America's Leading Business Lawyers. The firm is the only Tampa-based law firm that received this ranking in the bankruptcy and insolvency practice area. In addition to recognition of the law firm, shareholders Don M. Stichter, Harley E. Riedel, Russell M. Blain, Richard C. Prosser, and Stephen R. Leslie received individual recognitions. London-based Chambers & Partners conducts research via telephone interviews with clients and with attorneys. The qualities on which the rankings are assessed include technical legal ability, professional conduct, client service, commercial awareness/astuteness, diligence, commitment, and other qualities most valued by the client.

SUSAN H. SHARP RECEIVES AV RATING FROM MARTINDALE-HUBBELL - June 2010 Susan H. Sharp was awarded the "AV Peer Review - Preeminent Lawyer" rating by Martindale-Hubbell Law Directory in June, 2010. Martindale-Hubbell has published ratings of lawyers continuously since 1868. The AV Peer Review Rating identifies lawyers with "very high to preeminent" legal ability and "very high" ethical standards. It is the highest rating issued by Martindale-Hubbell, which also identifies those AV-rated lawyers who are regarded as preminent in the profession. The firm has been rated "AV" since its inception in 1974. Martindale-Hubbell's ratings are derived from interviews with members of the bar and the judiciary. The ratings reflect a lawyer’s expertise, experience, integrity and overall professional excellence. Ms. Sharp richly deserves this rating and joins eleven other lawyers at Stichter, Riedel who have also been awarded the "AV - Preeminent Lawyer" rating.

ELEVEN FIRM LAWYERS RECOGNIZED AS "FLORIDA SUPER LAWYERS" OR “RISING STARS” - JUNE 2010 Don M. Stichter, Harley E. Riedel, Russell M. Blain, Richard C. Prosser, Charles A. Postler, Scott A. Stichter, and Stephen R. Leslie, all shareholders in Stichter, Riedel, were named among Florida's Super Lawyers in the 2010 edition of Super Lawyers Magazine. Elena Paras Ketchum, Edward J. Peterson, Amy D. Harris, and Daniel R. Fogarty were recognized as “Rising Stars,” in the bankruptcy/insolvency practice area. Harley E. Riedel, a founding shareholder of the firm, was also named for the third consecutive year as one of the top 10 lawyers in the State of Florida regardless of practice area and was listed as the third top point getter among all Florida lawyers. Russell M. Blain was also named one of the top 100 lawyers in the State of Florida for the fourth consecutive year. Lawyers are chosen to be Super Lawyers or Rising Stars following an extensive process of nominations, balloting, blue ribbon panel review, and independent research compiled by Law & Politics magazine. Only 5% of the lawyers in Florida were selected as Super Lawyers. Law & Politics performs the polling, research and selection of Super Lawyers in a process designed to identify lawyers who have attained a high degree of peer recognition and professional achievement. Super Lawyers attempts to provide a comprehensive and diverse guide to outstanding attorneys, representing a wide range of practice areas, firm sizes and geographic locations. See link - www.superlawyers.com

ATTORNEYS AMY DENTON HARRIS AND BARBARA HART RECEIVE AV RATING FROM MARTINDALE-HUBBELL - SPRING 2010 Amy Denton Harris and Barbara Hart were awarded the AV Peer Review Rating by Martindale-Hubbell Law Directory in March and May, 2010, respectively. Martindale-Hubbell has published ratings of lawyers continuously since 1868. The AV Peer Review Rating identifies lawyers with "very high to preeminent" legal ability and "very high" ethical standards. It is the highest rating issued by Martindale-Hubbell. The firm has been rated "AV" since its inception in 1974. Martindale-Hubbell's ratings are derived from interviews with members of the bar and the judiciary. The ratings reflect a lawyer’s expertise, experience, integrity and overall professional excellence. Ms. Harris and Ms. Hart richly deserve this rating and join nine other lawyers at Stichter, Riedel who are also "AV" Rated.

BIOVEST ANNOUNCES SETTLEMENT WITH LARGEST CREDITOR – APRIL 19, 2010 (LINK)

HARLEY E. RIEDEL SPEAKS AT TAMPA BAY BANKRUPTCY BAR ASSOCIATION LUNCHEON- APRIL 13, 2010 Harley E. Riedel articpated in a panel discussion entitled "Alternatives to Bankruptcy" presented by the Tampa Bay Bankruptcy Bar Association on April 13, 2010. The panel focused on alternatives ranging from simply closing the doors to out-of-court workouts, Article 9 sales by secured creditors or by court-appointed receivers, and assignments for the benefit of creditors under Florida Statutes, Chapter 727. The panel also discussed the methods used to protect of buyers of operating businesses from successor liability claims.

PLAN OF REORGANIZATION CONFIRMED FOR LAKELAND VETERINARY HOSPITAL– MARCH 24, 2010 On March 24, 2010, the United States Bankruptcy Court for the Middle District of Florida, Tampa Division, entered an order confirming the Plan of Reorganization of Lakeland Veterinary Hospital, Inc. under which Lakeland Veterinary Hospital, Inc. will continue as a going concern under its prepetiton management and with the same equity ownership structure that existed prepetition. Lakeland Veterinary Hospital provides veterinary services from its facility in Lakeland, Florida and is known throughout the Lakeland community for providing free veterinary care to the City of Lakeland's nearly 200 swans. Stichter, Riedel promulgated the plan on behalf of Lakeland Veterinary Hospital and has represented Lakeland Veterinary Hospital as a debtor-in-possession since the case was filed in September 2009. Elena Paras Ketchum served as lead counsel for the debtor throughout the case.

STEPHEN R. LESLIE SPEAKS AT THE 34th ANNUAL JUDGE ALEXANDER L. PASKAY SEMINAR ON BANKRUPTCY LAW AND PRACTICE - March 6, 2010 Shareholder Stephen R. Leslie served as the "Circuit Splits" moderator for a distinguished panel of six United States Bankruptcy Judges at the 34th Annual Judge Alexander L. Paskay Seminar conducted by Stetson University College of Law and the American Bankruptcy Association held at the Hyatt Regency Hotel in Tampa, Florida. The topics focused on splits of authority between Circuit Courts of Appeal on commercial and consumer issues in the bankruptcy context, and included issues on third party releases, the automatic stay, and attorneys fees.

PLAN OF REORGANIZATION CONFIRMED FOR PRINTING COMPANY – JANUARY 28, 2010 On January 28, 2010, the United States Bankruptcy Court for the Middle District of Florida, Tampa Division, entered an order confirming the Plan of Reorganization of Target Graphics, Inc. under which Target Graphics, Inc. will continue as a going concern under its prepetiton management and with the same equity ownership structure that existed prepetition. Target Graphics is in the business of providing printing, finishing and bindery services to customers in Sarasota, Venice, Bradenton, Manatee, St. Petersburg and Tampa. Stichter, Riedel promulgated the plan on behalf of Target Graphics and has represented Target Graphics as a debtor-in-possession since the case was filed in July 2009. Elena Paras Ketchum served as lead counsel for the debtor throughout the case.

SUSAN H. SHARP SPEAKS AT THE NEW LAWYER LUNCHEON - JANUARY 26, 2010 Susan H. Sharp participated in a panel discussion sponsored by the United States Bankruptcy Court addressing questions and issues unique to Chapter 11 cases filed by individuals on January 26, 2010. The panel was geared to new lawyers and to lawyers not familiar with Chapter 11 practice. It was moderated by the Honorable Catherine Peek McEwen, and the panel consisted of the Honorable Alexander L. Paskay, Chief Bankruptcy Judge Emeritus, a staff attorney with the U.S. Trutee's office, Ms. Sharp, and another practicing attorney.

ELENA PARAS KETCHUM SPEAKS AT HILLSBOROUGH COUNTY BAR ASSOCIATION SEMINAR- JANUARY 19, 2010 Elena Paras Ketchum particpated in a panel discussion entitled "HCBA Loan Modification and Workout Town Hall Meeting" presented by the Hillsborough County Bar Association on January 19, 2010. The panel included lawyers representing borrowers and bank officers for Fifth Third Bank, SunTrust Bank and Bank of Tampa. Ms. Ketchum addressed questions and issues related to the challenges faced by corporate borrowers in loan workouts and modifications.

STATE COURT JUDGMENT BECOMES FINAL IN MATTER OF FIRST IMPRESSION - January 12, 2010 The Second DCA dismissed the appeal from Judge Richard Nielson's opinion refusing to permit an affiliate of a defendant being sued by a Florida company that had purchased a defaulted promissory note against the Florida company to obtain a judgment and then levy upon the cause of action. Had the affiliate been permitted to do so, it would have effectively eliminated the risk of a large adverse judgment. Timeplex Holdings, LLC v Edascio, LLC, Case No.: 2D09-1952, Amy Denton Harris handled the appeal.

PLAN CONFIRMED FOR LA BONITA OLE – January 8, 2010 On January 8, 2010, the United States Bankruptcy Court for the Middle District of Florida, Tampa Division, entered an the Order: (1) Approving Disclosure Statement for Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code and (2) Confirming Joint Plan of Reorganization, under which La Bonita Ole will continue as a going concern with the prepetition management and an opportunity for the same equity ownership structure under the Joint Plan. La Bonita Ole is in the business of manufacturing and distributing tortillas and related products over a multi-state area. Stichter Riedel represented the Debtor and Debtor in Possession since the case was filed on July 16, 2008.

SALES OF NEW MEXICO APPLIANCE RETAILER – DECEMBER 20, 2009 On December 14, 2009, in the DCE New Mexico, LLC Chapter 11 case, Judge Michael Williamson approved the sale of substantially all of the assets of a chain of electronics and appliance retailers in New Mexico. The stores were founded in 1967 and operate at two locations, in Santa Fe and Albuquerque. Substantially all assets of the estate were sold under Section 363 of the Code to Jack Baillio. The sale closed December 20, 2009. Stephen Leslie and Dan Fogarty are counsel to the debtors. http://1340kvot.com/front/showcontent.aspx?fileid=807&lang_id=1&p=December-2009-News

DeSEARS, APPLIANCE WORLD, AND BAILLIOS FILE FOR RELIEF UNDER CHAPTER 11 - OCTOBER 20, 2009 On October 20, 2009, Stichter Riedel filed Chapter 11 petitions for Riverview Ventures, Inc., d/b/a DeSears Appliance and Home Entertainment, DCE New Mexico, LLC, d/b/a Baillios, Inc., GCF Holdings, LLC, d/b/a Appliance World & Home Theater, and Appliance World, Inc. Riverview Ventures, Inc., doing business as DeSears Appliance & Home Entertainment, operates as an electronics and appliances retailer with four stores serving Pinellas, Manatee and Sarasota counties in Florida. Riverview Ventures, Inc. was founded in 1947 and is based in Bradenton, Florida. GCF Holdings, LLC, Colorado's largest independent appliance dealer, operates a network of appliance retail stores in Colorado. The company was incorporated in 2005 and is based in Denver, Colorado five with store locations in Arvada and Aurora, Colorado. DCE New Mexico, Inc. operates as an appliance and electronics retailer in New Mexico under the Baillio name. Baillio's started in Albuquerque in 1966. It was purchased by Denver-based company, Appliance World Group, approximately 18 months prior to the filing. St. Petersburg Times; Sarasota Herald Tribune; Albuquerque Journal; http://www.applianceworldstores.com/

SUSAN H. SHARP SPEAKS AT JUDGMENT ENFORCEMENT IN FLORIDA SEMINAR - October 15, 2009 Susan Sharp spoke at the Lorman Education Services' Judgment Enforcement in Florida seminar. She addressed the automatic stay, preferences and fraudulent transfers, filing proof of claim, and nondischargeablity issues surrounding the collection of a judgment when a bankruptcy is filed.

MICHAEL J. HOOI JOINS FIRM – October 12, 2009 Michael J. Hooi joined the firm as an associate on October 12, 2009 after completing a 2008–09 judicial clerkship at the U.S. Court of Appeals, Eleventh Circuit, for the Honorable Charles R. Wilson. Mr. Hooi graduated from Vanderbilt University in 2005, where he earned an undergraduate degree in philosophy in three years, was selected to be an Arts & Science College Scholar, and was elected to Phi Beta Kappa. In 2008, he earned a law degree at the University of Florida Levin College Law. While in law school, he interned at the U.S. District Court, Middle District of Florida, for the Honorable Elizabeth A. Kovachevich. He served as a managing editor of the Florida Law Review and published twice in its sixtieth volume. He was also a teaching assistant in first-year legal writing courses and a business law course at the University of Florida Warrington College of Business.

FIRM PREVAILS IN APPEAL IN LYKES BROS. CASE - September 29, 2009 The United States District Court affirmed the award of time-delay damages, or interest, in an appeal taken by the United States from an order of the Bankruptcy Court awarding those damages. The underlying decision was published as In re Lykes Bros. Steamship Co, Inc., 399 B.R. 555 (Bankr. M. D. Fla. 2009). Harley Riedel and Daniel Fogarty handled the matter for the firm.

PLAN CONFIRMED FOR LUXURY CONDOMINIUM PROJECT — September 18, 2009 On September 18, 2009, the United States Bankruptcy Court for the Middle District of Florida, Ft. Myers Division, entered an order confirming the joint plan of reorganization proposed by the debtors in the Ecoventure Wiggins Pass/Aqua at Pelican Isle cases. After three hearings and the presentation of evidence, the order overruled multiple objections and, in a contemporaneous order, sustained objections to secured claims asserted by multiple objecting parties. The confirmed plan addresses over $130 million in secured and unsecured claims, including the $26 million in priming debtor-in-possession financing previously approved by the Court.

KEARNEY CONSTRUCTION COMPANIES FILE FOR RELIEF UNDER CHAPTER 11- AUGUST 26, 2009 On August 26, 2009, Stichter Riedel filed Chapter 11 petitions for Kearney Construction Co., LLC, Kearney Construction Company, Inc., and AVT Equipment, LLC. These filings followed the June 4, 2009, Chapter 11 filings for two affiliates, Florida Equipment Co., LLC and Florida Trucking Co., Inc. Kearney Construction Co., LLC and Kearney Construction Company, Inc. are the construction components of a group of related family companies with over 53 years of experience in the construction industry, specializing in site development and infrastructure construction including clearing, earthwork, utility construction, storm drainage, curbs, sidewalks, and roadwork including sub-base, base, and asphalt placement. ATV Equipment, LLC owns and operates equipment used by the construction companies. Florida Equipment Co., LLC and Florida Trucking Co., Inc. provide trucking and hauling services. http://www.tampabay.com/news/business/realestate/kearney-construction-co-in-bankruptcy-court-vows-to-complete-projects/1032881

TAYLOR, BEAN & WHITAKER MORTGAGE CORP., FILES FOR RELIEF UNDER CHAPTER 11 - AUGUST 24, 2009 On August 24, 2009, Stichter Riedel filed a Chapter 11 petition for Taylor, Bean & Whitaker Mortgage Corp. (“Taylor Bean”). Until August 2009, Taylor Bean was the largest independent (i.e. non-depository owned) mortgage lender in the United States. Headquartered in Ocala, Florida, Taylor Bean is a 27-year-old mortgage company which grew from a small local mortgage company to become the nation’s third largest direct-endorsement lender of FHA-insured loans and one of the largest wholesale mortgage lenders and issuers of mortgage backed securities. It also managed a combined mortgage servicing portfolio of approximately $80 billion. Taylor Bean will be guided in the Chapter 11 process by Edward J. Peterson, Russell M. Blain & Amy D. Harris. For access to specific case information, please visit www.bmcgroup.com\tbwmortgage.

PLAN CONFIRMED FOR OWNER OF CHAIN OF RESTAURANTS UNDER CHAPTER 11 — August 20, 2009 On August 20, 2009, the United States Bankruptcy Court for the Middle District of Florida, Ft. Myers Division, ruled that the Chapter 11 Plan filed by Gyarmathy & Associates, Inc., and five affiliated companies would be confirmed. Post reorganization, the companies will own and operate a chain of eleven upscale fast food restaurants and one alehouse/barbeque restaurant, with approximately 250 employees and locations from Naples to Clearwater, Florida. In this case, the plan featured: (i) the restructuring of obligations to General Electric Capital Franchise Finance Corporation [owed approximately $9 million on the petition date], (ii) the surrender of property to various secured lenders in satisfaction of their secured claims [approximately $4 million on the petition date], and (iii) a restructuring of several million dollars in obligations to unsecured creditors. Daniel R. Fogarty led the firm’s representation in these cases.

BANKRUPTCY COURT CONFIRMS CHAPTER 11 PLAN OF REORGANIZATION FOR DUNKINS DIAMONDS, INC. AND AFFILIATES — August 5, 2009 On August 5, 2009, the United States Bankruptcy Court for the Middle District of Florida, Ft. Myers Division, entered an Order Confirming Debtors' Revised Joint Plan of Reorganization for Dunkin's Diamonds, Inc., and five affiliates [http://www.dunkinsdiamonds.com/]. Unlike other well publicized diamond retail cases [which have been total liquidations], in this the companies will continue to operate eight retail locations in Southwest Florida and Ohio post confirmation, with approximately 100 employees. The initial filing on November 6, 2009 followed an involuntary Chapter 7 case filed in Ohio. Stichter Riedel successfully procured a transfer of venue to the Ft. Myers Division of the Middle District of Florida. As of the petition date, the Debtors operated 10 locations. The Chapter 11 filings allowed the Debtors to conduct bankruptcy Court approved going-out-of-business sales in select locations, shut down unprofitable locations, renegotiate their line of credit with Webster Business Credit Corporation, and otherwise restructure obligations to creditors and generally reduce leverage by over $7 million. Stephen R. Leslie and Daniel R. Fogarty led the firm’s representation in these cases.

FIRM FIRST IN THE STATE OF FLORIDA, AND AMONG TOP FIRMS NATIONALLY, IN NUMBER OF "SUPER LAWYERS" AND “RISING STARS” PRACTICING BANKRUPTCY LAW ACCORDING TO 2009 EDITION OF SUPER LAWYERS MAGAZINE (FLORIDA AND NATIONAL CORPORATE COUNSEL EDITIONS) - June 2009 With seven shareholders (see related release in “Firm Honors” section) named among Florida's Super Lawyers in the 2009 edition of Super Lawyers Magazine, the firm ranked first in the State of Florida in the number of bankruptcy lawyers so honored. In addition, four other Stichter Riedel lawyers were honored as “Rising Stars” (out of only fifteen bankruptcy lawyers in the entire state so recognized), giving the firm eleven lawyers recognized as either Super Lawyers or Rising Stars. No other Florida firm had more than six bankruptcy lawyers in these two categories. In addition, for the second consecutive year, the firm had three lawyers (Don M. Stichter, Harley Riedel, and Russ Blain) rated among the Top 100 lawyers (out of approximately 61,000) in the entire State of Florida, regardless of practice area. According to the national Corporate Counsel edition of Super Lawyers magazine, only one other law firm in the nation had as many as three bankruptcy lawyers included in the Top 100 lawyers in any single state. For the second consecutive year, Harley Riedel was named as one of the Top Ten lawyers in Florida. According to the national Corporate Counsel addition, only a handful of firms had as many as seven lawyers named as Super Lawyers in the bankruptcy practice area in any single state.

RUSSELL M. BLAIN SURRENDERS GAVEL AS CHAIR OF BUSINESS LAW SECTION OF THE FLORIDA BAR —June 25, 2009 Russell M. Blain, at the annual convention of The Florida Bar, concluded his term as Chair of the statewide Business Law Section after a successful and active year. During the year, the Business Law Section led the enactment of a revamped Florida not-for-profit corporate statutes, proposed options for the electronic transmission of documents and for Florida publicly traded corporations to utilize SEC-promulgated “e proxy” rules, and took an active role in ensuring adequate court funding. Among the missions of the Business Law Section is obtaining passage of legislation to promote a positive business environment, improve Florida business laws, and protect and enhance the lives of Florida citizens. The Section comprises members of The Florida Bar practicing in the areas of corporations, securities, financial services, business litigation, bankruptcy, creditors’ rights, intellectual property, antitrust, franchise, trade regulation, and other areas that provide services to the business and consumer community.

SALES OF AUTO DEALERSHIPS – June 22, 2009 On June 22, 2009, Judge Rodney May approved the sale of substantially all of the assets of two automobile dealerships, T. Thomas Chevrolet, INC and MRH of Lakeland, LLC, to Regal Pontiac. Edward Peterson and Dan Fogarty are counsel to the dealerships. Read article: Lakeland Chevy dealership under siege files for Chapter 11

ELENA KETCHUM INSTALLED AS PRESIDENT-ELECT OF TAMPA BAY BANKRUPTCY BAR ASSOCIATION – June 11, 2009 Elena Paras Ketchum was installed at the annual dinner of The Tampa Bay Bankruptcy Bar Association to serve as President-Elect of the Association for the 2009-2010 term. Ms. Ketchum had previously served as a member of the board of directors of the Association from 2006 to 2008 and as Treasurer in 2008-2009. She is slated to become President in June 2010. Edward J. Peterson will continue to serve as a director of the Association. Mr. Peterson was first elected as a director in 2007.

OWNER OF CHAIN OF SEVENTEEN RESTAURANTS FILES FOR RELIEF UNDER CHAPTER 11 - June 5, 2009 On June 5, 2009, Stichter Riedel filed Chapter 11 Petitions for twenty-three affiliated companies. The Debtors own and operate the largest chain of Dunkin Donuts and Baskin Robbins restaurants in Southwest Florida. Edward Peterson and Amy Harris are counsel to the Debtors.

BARBARA A. HART JOINS FIRM - May 4, 2009 Barbara A. Hart joined the firm as an attorney on May 4, 2009. Ms. Hart earned her Bachelor of Science degree from Tusculum College located in Greeneville, Tennessee in 1988 and her Masters Degree from the University of South Florida in 1991. In 2001, she graduated cum laude from Stetson University College of Law. While in law school, Ms. Hart served as the Managing Editor of the Stetson Law Review. Ms. Hart extensive experience in insolvency and commercial matters, serving as the Law Clerk to the Honorable Rodney K May and handling bankruptcy, insolvency, and civil commercial matters, including representation of creditors and debtors in Chapter 11, 13 and 7 cases.

B. MICHAEL BACHMAN, JR. JOINS FIRM - April 15, 2009 B. Michael Bachman, Jr. joins the firm as an associate. Mr. Bachman earned his undergraduate degree from Florida State University in 1999, graduating with honors with a Bachelor of Science in Business Management. In 2005, he graduated cum laude from University of Florida Levin College of Law. While in law school, Mr. Bachman served as editor of the Journal of Technology Law and Policy. He also served as a teaching assistant in Legal Research and Writing and Appellate Advocacy courses. Prior to joining the firm, Mr. Bachman was with the law firm of DLA Piper LLP (U.S.) as an associate in the Real Estate Group. While at DLA Piper, Mr. Bachman assisted with various real estate transactions, including real property sales, documentation of secured loans and workouts with secured lenders.

FIRM PREVAILS IN LITIGATION INVOLVING MATTER OF FIRST IMPRESSION - April 3, 2009 In a matter of apparent first impression in Florida, Hillsbourough County Circuit Court Judge Richard Nielson refused to permit an affiliate of a defendant being sued by a Florida company that had purchased (at a discount) a defaulted promissory note against the Florida company to obtain a judgment and then levy upon the cause of action. Had the affiliate been permitted to do so, it would have effectively eliminated the risk of a large adverse judgment. In doing so, the Court followed several decisions from other jurisdictions: Commerce Saving Assoc. v. Welch, 783 S.W.2d 668 (Tex App. 1989); Associate Ready Mix, Inc. v. Douglas, 843 S.W.2d. (Tex. App. 1992); and Criswell v. Ginsberg & Foreman, 843 S.W.2d 304. The Court did allow the affiliate of the defendant to set-off its note against the amount of any judgment entered the defendant. The decision was appealed. Amy Denton Harris handled the representation of the Florida company. Timeplex Holdings, LLC v Edascio LLC, Case No. 05-CA-80904.

SHAREHOLDER SPEAKS ON RESTRUCTURING REAL ESTATE LOANS- March 26, 2009 Harley E. Riedel participated in a panel discussion on “Restructuring Real Estate” presented by CLE International on March 26, 2009. The Panel included- Ronald Glass of Glass Ratner in Atlanta, Rick Spencer, Senior Vice President and National head of the loan workout division of BB&T Bank, and attorneys Bruce White of Greenberg Traurig, Dallas, and David Kurzweil of Greenberg Traurig, Atlanta.

EDWARD J. PETERSON, III AND SUSAN H. SHARP SPEAK AT FLORIDA AUTO DEALERS ASSOCIATION -March 26, 2009 Edward J. Peterson, III and Susan Sharp spoke at the Florida Auto Dealers Association's panel discussion entitled Riding the Industry Wave:Offensive and Defensive Strategies for all Dealer Principals held in Orlando, Florida on March 26, 2009. The meeting was attended by automobile dealers from throughout the state. Mr. Peterson and Ms. Sharp discussed various bankruptcy issues, including the implications for dealers in the event of a GM or Chrysler bankruptcy filing.

BANKRUPTCY COURT CONFIRMS CHAPTER 11 PLAN OF REORGANIZATION IN ARLINGTON RIDGE CASES—March 12, 2009 On March 12, 2009, the United States Bankruptcy Court for the Middle District of Florida entered an Order Confirming Debtors’ Amended Joint Plan of Reorganization. The four related Debtors were the owners and developers of a planned unit development consisting of approximately 492 acres of real property in Lake County, Florida, which was established as an active adult community. The Debtors initially proposed a five year plan providing for the continued development of Arlington Ridge and the payment of the largest secured creditor and all other non-insider creditors in full. Funding for this plan was to be funded by insiders, who were also guarantors of the secured bank debt. The insiders were willing to waive immediate payment of approximately $800,000 of post-petition financing and to fund the plan on the condition that they not be sued on their guarantee. Less than ten days after the Debtors filed their 100% plan, the secured creditor sued one of the guarantors, causing the Debtors to be in default on their “soft cost” DIP loan and requiring abandonment of their initial plan of reorganization. The Debtors’ amended plan of reorganization, which was confirmed by the Bankruptcy Court over the objection of the principal secured creditor, provided for the wind-down of the Debtors’ business operations and for the transition of those business operations and the transfer of most of the Debtors’ real estate and any related permits and entitlements to the secured creditor. Pursuant to the Confirmation Order, the Debtors have transferred most of their real estate and related assets to the secured creidtor in full satisfaction of its Secured Claims. Harley E. Riedel and Amy Denton Harris led the firm’s representation in these cases.

STEPHEN R. LESLIE SPEAKS AT THE 34th ANNUAL JUDGE ALEXANDER L. PASKAY SEMINAR ON BANKRUPTCY LAW AND PRACTICE - March 6, 2009 Shareholder Stephen R. Leslie served as the "Circuit Splits" moderator for a distinguished panel of six United States Bankruptcy Judges at the 34th Annual Judge Alexander L. Paskay Seminar conducted by Stetson University College of Law ands the American Bankruptcy Association held at the Hyatt Regency Hotel in Tampa, Florida. The topics focused on splits of authority between Circuit Courts of Appeal on commercial and consumer issues in the bankruptcy context, and included issues on third party releases, the automatic stay, and attorneys fees.

BANKRUPTCY COURT CONFIRMS CHAPTER 11 PLAN OF REORGANIZATION FOR SAM SELTZER’S STEAK HOUSES OF AMERICA, INC.—February 25, 2009 On February 25, 2009, the United States Bankruptcy Court for the Middle District of Florida, Tampa Division, entered an Order Confirming the Amended Plan of Reorganization for Sam Seltzer’s Steak Houses of America, Inc. and its Wholly-Owned Subsidiaries, as Modified at the Confirmation Hearing. On June 27, 2008, the parent company, Sam Seltzer’s Steak Houses of America, Inc. and 14 of its wholly-owned subsidiaries filed for Chapter 11 protection. As of the petition date, the Debtors operated 9 steak houses in the greater Tampa Bay area, central Florida, and southwest Florida. The Chapter 11 allowed the Debtors to shut down unprofitable restaurants, reject unfavorable leases, abandon burdensome assets, and restructure obligations to creditors. In particular, the plan featured: (i) the restructuring of obligations to General Electric Capital Franchise Finance Corporation and one of its subsidiaries, USRP Finance, LLC, which were collectively owed approximately $5.5 million on the petition date, (ii) the surrender of property to Amresco Commercial Finance, LLC which was owed approximately $4 million on the petition date, and (iii) a restructuring of multi-million dollar obligations to unsecured creditors. The parent company now operates 6 steak houses in the greater Tampa Bay area and southwest Florida. Harley E. Riedel and Amy Denton Harris led the firm’s representation in these cases. Read more in Nation’s Restaurant News.

STEPHEN R. LESLIE SPEAKS AT THE CARIBBEAN INSOLVENCY SYMPOSIUM, BREAKFAST AND VIEWS FROM THE BENCHES - February 7, 2009 Shareholder Stephen R. Leslie served as the "View from the Bench" moderator for a distinguished panel of United States Bankruptcy Judges at the annual Caribbean Insolvency Symposium conducted by the American Bankruptcy Association held in Grand Cayman, Cayman Islands. The topics focused on commercial issues, and included business insolvency, challenges in Chapter 11, and real estate cases.

PASCO COUNTY, FLORIDA ROOFING TRUSS MANUFACTURER FILES FOR RELIEF UNDER CHAPTER 11 - February 2, 2009 On February 2, 2009 Stichter Riedel filed a Chapter 11 Petition for Rt. 41 Manufacturing, Inc., d/b/a 41 Truss. 41 Truss has supplied structural roof and floor wood truss systems, an essential component of building construction offering structural support and forming the shape of floors and roofs, to Tampa Bay area builders since 1983. Since undergoing a change in ownership in 2005, 41 Truss has quadrupled the number of customer accounts, has improved productivity by over 150%, has increased market share from an estimated 4% in 2005 to an estimated realizable 20% in 2009, and has reduced operating costs by an estimated 30%. 41 Truss operates from facilities located in Spring Hill, Pasco County, Florida.

OWNER OF CHAIN OF SIXTEEN RESTAURANTS FILES FOR RELIEF UNDER CHAPTER 11 - January 31, 2009 On January 31, 2009, Stichter Riedel filed Chapter 11 Petitions for Gyarmathy & Associates, Inc., and five affiliated companies. The Debtors own and operate a chain of eleven fast food restaurants and five barbeque restaurants from Naples to Clearwater, Florida.

PLAN CONFIRMED IN CLEARWATER BASED AUTO PARTS COMPANY - January 23, 2009 The Bankruptcy Court for the Middle District of Florida, Tampa Division confirmed the Chapter 11 Plan filed by SRBP on behalf of Argue Automotive Accessories LLC, a manufacturing concern specializing in plastic-molded parts for factory-direct and after-market sales for the automobile industry. Under the Plan, the Debtor is restructuring debt in accordance with a stock purchase agreement entered into during the case.

PLAN CONFIRMED IN FT. MYERS RESTAURANT CASES - January 22, 2009 The Bankruptcy Court in the Ft. Myers Division of the Middle District of Florida confirmed the Chapter 11 Plan filed by the debtors in the Karakosta Investments, Inc. cases. The Debtors operate "Big Al's City Grill" restaurants in Bonita Springs and Sarasota [http://bigalscitygrillsarasota.com/index.shtml].

HARLEY E. RIEDEL SPEAKS AT NATIONAL ASSOCIATION OF HOMEBUILDERS ANNUAL CONVENTION -January 22, 2009 Shareholder Harley E. Riedel spoke at the annual convention of the National Association of Homebuilders held in Las Vegas, Nevada on January 22, 2009. Mr. Riedel spoke on the topic of "Coping With Financial Distress" addressing legal options available to homebuilders and developers in the current economic environment.

BECKY FERRELL-ANTON JOINS FIRM - January 19, 2009 Becky Ferrell-Anton joined the firm as an attorney on January 19, 2009. Ms. Ferrell-Anton graduated from Emory University summa cum laude with a B.B.A. degree (concentration in accounting) in 1981. At Emory, she received the Business School's award for the highest GPA, the Georgia Society of CPAs Award, and numerous other academic awards and recognitions. She received a J.D. degree from Georgetown University Law Center in 1984 magna cum laude. She served as an editor of the Georgetown Law Journal and published two works in Volume 72 of the Journal. She received book awards in the Bankruptcy and Property courses and the Sewell Key Award for the best work in the field of taxation in 1984. She is rated "AV" by Martindale-Hubbell Law Directory. Before joining the firm, Ms.Ferrell-Anton worked as corporate counsel and in private practice. She has considerable experience in transactional legal work and in litigating complex commercial disputes.

FIRM PREVAILS IN LITIGATION PITTING PRINCIPLES OF RES JUDICATA AGAINST SOVEREIGN IMMUNITY - January 16, 2009 In the latest decision in a long-running dispute (see also 217 B.R. 304) between the United States and the Debtor involving the Debtor's claim for operating differential subsidy payments, the Debtor prevailed in validating an award of time-delay damages, or interest in the amount of approximately $1.3 million, ruling against the Government's contention that an earlier, non-appealed, and final order awarding such fees was void as a violation of sovereign immunity. The decision is published as In re Lykes Bros. Steamship Co, Inc., 399 B.R. 555 (Bankr. M. D. Fla. 2009). Harley Riedel and Daniel Fogarty handled the matter for the firm.

BANKRUPTCY COURT CONFIRMS CHAPTER 11 PLAN FOR MADISON, FLORIDA BASED FUEL HAULER - January 14, 2009 On January 14, 2009, the United States Bankruptcy Court for the Middle District of Florida entered an order confirming the stand-alone plan of reorganization of Justin Davis Enterprises, Inc., a tank transport services provider engaged in the business of delivering petroleum products from terminals to retail and commercial sites throughout the Southeast. The Debtor filed for Chapter 11 protection in May 2008. The plan featured the sale to third parties or the surrender to secured creditors of surplus equipment and a restructuring of obligations to various equipment lenders, as well as to unsecured creditors, with claims of approximately $7.1 million. Daniel R. Fogarty led the firm's representation in this case.

FT. MYERS-BASED HOME FURNISHINGS RETAILER SEEKS RELIEF IN CHAPTER 11 - January 14, 2009 On January 14, 2009, Stichter Riedel filed for The Picture Factory, Inc., [http://www.thepicturefactory.com/] under Chapter 11 of the Bankruptcy Code in a case filed in the Ft. Myers Division of the Middle District of Florida. The Debtor sells framed art, accent furniture, lamps, sculptures, mirrors, clocks, vases and silk florals, and also provides custom framing services. The Debtor operates locations in Naples, Ft. Myers, Boynton Beach, and Bonita Springs.

PLAN CONFIRMED IN SIX RELATED REAL ESTATE CASES - January 8, 2009 The Bankruptcy Court confirmed the Chapter 11 Plan filed by Blue Stone Real Estate, Construction Company, Inc. and five substantively-consolidated affiliates. The Debtors’ assets primarily consist of large tracts of undeveloped land in Hernando and Pasco Counties. Mortgage debt totaled approximately $25 million. One of the hotly litigated issues in the cases was the entitlement of the debtors-in-possession to name a Chief Restructuring Officer (“CRO”) over the objection of the U.S. Trustee and after its filing of a motion to appoint a trustee. The Bankruptcy Court concluded that the appointment of a CRO was appropriate and, in light of the appeal by the U.S. trustee, certified the decision to the United States Court of Appeals for the Eleventh Circuit. See In re Blue Stone Real Estate, Construction Company, Inc, .392 B.R. 897 and 396 B.R. 555 respectively. The appeal remains pending but may be subject to dismissal on mootness grounds. The firms representation was lead by Edward J. Peterson and Susan H. Sharp.

DON M. STICTER AND HARLEY E. RIEDEL RECOGNIZED BY EXPERT GUIDES AS OUTSTANDING INSOLVENCY AND RESTRUCTURING LAWYERS FOR 2009 Shareholders Don M. Stichter and Harley E. Riedel were recognized by Legal Media Group's Expert Guides as outstanding insolvency and restructuring lawyers for 2009. They represent two of a total of only three attorneys with practices in Tampa or on the west coast of Florida who were so recognized. Legal Media Group commissions its research department to carry out an in-depth study of experts in various fields of law being examined. The initial stage of the research process involves distributing more than 3500 questionnaires to senior practitioners or in-house counsel involved in the practice area. The questionnaire asks leading figures to nominate those lawyers they consider being among the most capable for that work. The results are analyzed and screened, and researchers then meet with a number of acknowledged leading experts in major legal centers worldwide. This typically includes: Los Angeles, San Francisco, Chicago, New York, Washington DC, and a number of foreign countries. Using data collated from returned questionnaires, the interviews, and further vetting, Legal Media Group compiles a final list of attorneys.

More Firm News and Honors

Articles

Practical Issues Surrounding Section 363 Sales by Harley E. Riedel and Edward J. Peterson, 19 U. Fla. J. of Law and Public Policy 75, April 2008 (Read Full Text...)

Spoliation of Electronic Information: In re Quintus Corp. by Daniel J. Fogarty April 2007 (Read Full Text...)

Joint Check Agreements in Florida Bankruptcy Cases by Edward J.Peterson April 13, 2007 (Read Full Text...)