Stratus bankruptcy reels in King & Spalding, Morris Manning

Posted on July 30, 2008 11:02 by Andy Peters

King & Spalding partner Paul K. Ferdinands is advising Stratus Group Inc. on its bankruptcy reorganization.

Morris, Manning & Martin partners Frank W. DeBorde and David W. Cranshaw are representing the official unsecured creditor’s committee.Chevy Aveo

Stratus Group , based in the Albany suburb of Leesburg, Ga., is engaged in the business of automobile leasing, according to filings made with the U.S. Bankruptcy Court for the Middle District of Georgia. Stratus Group conducts business under the names Freeway Auto Credit and Xpressway Auto Credit. Stratus Group said it has debts ranging between $10 million and $50 million, and assets in the same price range.

Several other Georgia attorneys are representing creditors in the case. Paul, Hastings, Janofsky & Walker partner Jesse H. Austin III is advising Leedom Financial Services Inc. Atlanta attorney James C. Frenzel is representing Prime Rate Premium Financial Corp. Edgar W. “Whit” Duskin Jr. and David A. Garland of Moore, Clarke, DuVall & Rodgers in Albany are counsel to Advance Business Funding LLC. Valdosta attorney David M. Wolfson is advising Ameris Bank.


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Janet ConleyThe Deal Watch Blog is devoted to bringing you the latest news in business law in Atlanta, the Southeast and the U.S. The lead writer is Daily Report associate editor Janet L. Conley.

Janet L. Conley is an attorney who returned to journalism after practicing law with Akin, Gump, Strauss, Hauer & Feld in Washington and with the Georgia Legal Services Program in Atlanta.

During her tenure at the Daily Report, Janet, now the paper's associate editor, has covered law firm economics and management, business and federal courts. In 2007, she received the Georgia Associated Press Story of the Year award and the Atlanta Press Club’s Journalist of the Year award, both for small circulation newspapers, for "Green to Gold," a series of articles on how climate change will alter business and the law.

Janet has written for The American Lawyer magazine and the National Law Journal, among other publications. She also served as managing editor of GC South magazine.

Janet holds a journalism degree from Southern College and a juris doctor degree from the University of Pennsylvania. She lives in Decatur with her husband Mark Harper, also an attorney, and their three children.

She can be reached at jconley@alm.com.

Andy PetersThe contributing writer is Daily Report staff reporter Andy Peters.

Andy Peters has been a journalist since graduating from Furman University in 1992. A short list of the subjects he’s covered includes the Georgia state Legislature, the U.S. semiconductor industry, the Alabama-Florida-Georgia “water wars” litigation, the 1999 American Airlines pilots strike, Coca-Cola and PepsiCo’s battle to acquire the Gatorade sports-drink brand, indie rock music and high school football. Andy has written for Bloomberg News, the New York Times Web site, the Macon Telegraph, the Spartanburg (S.C.) Herald-Journal and the Atlanta Business Chronicle.

Andy has written the Deal Watch column for the Daily Report since March 2006. He was born in Chattanooga, Tenn. in 1971 and grew up in Ringgold, Ga. He lives in Decatur with his wife and two children.

He can be reached at apeters@alm.com.

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