Legal Industry
OPVEON is pleased to feature Mary Kindelt. Mary Kindelt is a partner at McDonald & Kindelt, LLP. She practices in the areas of bankruptcy, creditors’ rights, commercial litigation and commercial transactions. She represents debtors and creditors in Chapter 11 bankruptcy cases and enjoys the intersection of numerous areas of law in those cases. Mary appreciates getting to know the nuts and bolts of her clients’ businesses and the challenges of reaching successful resolution of their issues. She is creative in structuring paths for distressed clients to maximize return to creditors, resulting in a fresh start. She is a member of the International Women’s Insolvency & Restructuring Confederation and the American Bankruptcy Institute.
In non-bankruptcy matters, Mary represents businesses across all industries, banks, and product manufacturers in all types of commercial litigation and has significant experience in discovery, depositions, expert witness retention, expert witness preparation, mediation, motions practice and trial. Mary obtained her undergraduate degree from the University of San Diego and her law degree from the University of California, Hastings College of the Law. She is a native Tulsan, is married, and has one son.
Q&A with Mary Kindelt
Q: As an attorney who specializes in business bankruptcies, what effect has COVID-19 had on small businesses?
A: COVID-19 has been devastating to many small businesses. Small businesses are the lifeline of any community and their inability to sell their products, provide their services, whatever their specialty may be, is often fatal to the business. We expected to see a wave of small business bankruptcies early on in the pandemic but the Payroll Protection Program really helped stave off filings. However, that money has run out and many small businesses are functioning day to day to make it or are having to file bankruptcy. It is possible the second round of PPP may help, but it may also be too late for some businesses. As attorneys who also specialize in non-bankruptcy restructurings, we are helping many clients prioritize debt, negotiate repayment terms, and evaluating cash management and revenue projections. It is really hard for small businesses right now although new PPP money may alleviate some burdens.
Q: What can you tell us about the benefits of a Chapter 11, Subchapter 5 bankruptcy to small business debtors over a traditional Chapter 11 bankruptcy?
A: Subchapter V is the biggest development in bankruptcy law in the past 20 years. A regular Chapter 11 case can be very expensive, often cost prohibitive to small business debtors, and in most cases, unless creditors are paid in full, owners lose their interest in their companies. However, Subchapter V is designed to be much faster, much less expensive, and easier to navigate than a regular Chapter 11 case. The most important benefit though, as I see it, is that small business owners can retain ownership of their company without the requirement of paying creditors in full. This allows small businesses a true opportunity to obtain a fresh start and provides the incentive to small business owners to negotiate with creditors to reach a resolution in bankruptcy so that the business can get back on its feet and move forward.
Q: How do you balance being a working mom and a partner in a law firm, especially in the age of COVID-19 and distance learning?
A: I am so blessed to have such an amazing husband and supportive family. I have been in the office for all but 2 weeks since March. Fortunately, in the spring, my husband was able to work from home while my son was out of school. Since my husband is back in his office working now, my mom is always willing to keep our son on days when he is out of school. We did have to quarantine for 2 weeks due to an exposure at school and those two weeks working from home while coordinating distance learning were tough. Unless I have a hearing or trial, I generally have the flexibility to work from home, which is something I am thankful for. I have so much admiration for all of the parents who are working from home and juggling work and distance learning.
Q: What is your philosophy for representing a case?
A: I always try to look at a case from the client’s perspective. It is always critical to make sure that the action we are taking is justified and that we aren’t spending good money to chase bad. We are very honest with our clients about how much litigation or bankruptcy costs and we try to find ways out of problems that will be the most effective and efficient. We try to see the end goal early. While the path to the end of a case is hardly ever straight, knowing where we are going makes the path easier to follow.
Q: What motivates you at work?
A: Getting a result for a client and helping to find a way to alleviate a pressure point or stressor for a client.
Q: What is the top destination on your must-visit list?
A: Iceland. Hands down. I am intrigued by its beauty — both in the summer and the winter. Seeing the Northern Lights is at the top of my bucket list so I would love to go in the fall or winter to be able to see those along with the beauty of Iceland. But a summer trip will be a must as well. We were in the early stages of planning a trip when COVID hit, so hopefully we will be able to resume that planning soon.
