Jacob A. Manheimer
Partner
Jack Manheimer is General Counsel to the firm. Prior to assuming the role of GC, Jack served as leader of the Banking & Financial Services practice, and, for over 35 years, devoted his practice primarily to the representation of banks and other financial institutions in financing transactions and the workout or collection of troubled and defaulted loans. With experience handling front-end and back-end matters, Jack understands the challenges and dynamics of representing banks in their relationships with their customers.
On the commercial lending side, Jack has negotiated, documented and closed hundreds of loan transactions, including term loans, working capital lines of credit, equipment lines of credit, floor plans, warehouse facilities, asset-based facilities and factoring arrangements, ranging from several hundred thousand dollars to $120 million.
On the workout and collection side, Jack has often been called on to document restructuring and forbearance agreements for commercial lenders; negotiate, structure and prepare plans of liquidation; and advise lenders on the execution of remedies following default.
When a borrower ends up in bankruptcy, Jack is experienced in negotiating, preparing and implementing agreements to use cash collateral and provide adequate protection of interests in collateral, and litigating contested cash collateral, relief from stay and adequate protection motions and contested plan confirmations.
- Named a "Lawyer of the Year" in Maine by Best Lawyers in America® for Closely Held Companies and Family Businesses Law (2020)
- Recognized by The Best Lawyers in America® for Banking & Finance Law, Bankruptcy & Creditor Debtor Rights / Insolvency and Reorganization Law, and Business Organizations (1995-present)
- Recognized in Chambers USA for Corporate M&A and Bankruptcy/Restructuring Law. One client described Jack as "passionate and uncompromising – as talented a bankruptcy lawyer as you'll ever find."
- Maine Bar Association
- Cumberland County Bar Association
- "Judgment Enforcement; Executing on Specific Assets," Lormen Education Services (2008)
- Volunteer, Credit Abuse Resistance Education program (2014-present)
- Board of Directors, WinterKids Foundation (2004-2010)
- Falmouth Town Council (2002-2005)
Practice Areas
- Representation of the lender in the financing of the acquisition of a regional HVAC contractor, involving a $5 million term loan and a $6.5 million working capital line.
- Representation of the lender in establishing a $7 million line of credit to a recreational products company to fund growth initiatives.
- Representation of commercial bank, as agent and lead lender, in documentation and closing of term loans and lines of credit totaling $35 million to a manufacturer with facilities in Maine, California and Tennessee.
- Representation of commercial bank in documenting and closing of term loans and lines of credit totaling $32.2 million to a logistics service company operating in Texas, NH, Illinois, Florida and Maine.
- Represented lender in documenting and closing of $500,000 term loan and $4.1 million floor plan line of credit to an automobile dealership.
Latest Updates in Banking & Financial Services
- Representation of senior secured lender in the liquidation of the real and personal property assets of a Maine earthworks, cement and asphalt company, after default in commercial loans exceeding $14 million.
- Representation of holder of $7 million mortgage loan in hotel owner's chapter 11 bankruptcy.
- Representation of a federal savings bank in the out-of-court restructuring of commercial loans totaling approximately $2 million secured by a chain of franchise restaurants in Maine and Florida.