Jeffrey C. "Jeff" Toole

Jeffrey C. "Jeff" Toole


Bernstein-Burkley, P.C.

Recognized since 2012

Cleveland, Ohio

Practice Areas

Banking and Finance Law

Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law

Commercial Transactions / UCC Law

Litigation - Bankruptcy

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With impressive analytical skills, Jeff devises practical, effective, and creative options to achieve clients' objectives and mitigate their risks.

Jeff has a unique ability to simplify very complex situations. Whether helping a business to navigate its way through unfamiliar, choppy financial waters, negotiating and preparing agreements for a restructured multimillion dollar loan, representing a bank or insurance company seeking to maximize its recovery from a troubled borrower, or assisting a receiver to preserve the value of an enterprise under his or her supervision, Jeff applies critical thinking to break down, assess, evaluate, and develop creative and effective options for clients.

Recognized as one of the "Best Lawyers in America" in his fields, Jeff advises key players about business disputes, commercial transactions, working out problem loans, defending "lender liability" claims, and navigating confidently through business bankruptcy cases and receiverships. His wide-ranging experience includes representing:
  • Creditors' Committees
  • Debtors
  • Indenture Trustees
  • Banks and Other Secured Lenders
  • Leasing Companies
  • Unsecured Trade Creditors
  • Asset Purchasers

Jeff writes and lectures on a wide array of topics, such as identifying the various types of fiduciary duties that corporate or LLC boards of directors and officers must honor and how they can fulfill them, secured transaction and lending issues, and commercial loan restructurings.

Contact & Links
Location
  • Fifth Third Center, Suite 1300
    600 Superior Avenue East
    Cleveland, OH 44114
Languages
  • English
Education
  • Cornell University, Juris Doctor, graduated 1985
  • Kenyon College, BA, graduated 1982
Bar Admissions
  • Ohio, United States
  • Indiana, United States
Affiliations
  • Cleveland Metropolitan Bar Association - Member, Executive Committee, Bankruptcy and Insolvency Section
  • American Bankruptcy Institute - Member
  • Cleveland Metropolitan Bar Association - Member, Bankruptcy & Commercial Law Section
Court Admissions
  • Ohio and Indiana state and federal courts

Bernstein-Burkley, P.C.
Headquarters: Pittsburgh, Pennsylvania

8 The Best Lawyers in America® awards

3 Best Lawyers: Ones to Watch® in America awards

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Recognized in The Best Lawyers in America® 2025 for work in:
  • Banking and Finance Law
  • Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
  • Commercial Transactions / UCC Law
  • Litigation - Bankruptcy
Awards:
  • Best Lawyers in America - Bankruptcy Litigation
  • Best Lawyers in America - Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
  • Top Attorneys in Ohio
  • Top Lawyers
  • Martindale-Hubbell AV Preeminent Rated
  • Best Lawyers in America - Banking and Finance
  • Best Lawyers in America - UCC
  • Ohio Super Lawyer - Business/Corporate
Additional Areas of Practice:
  • Commercial Finance Law
  • Commercial Litigation
  • Equipment Finance Law
  • Securitization and Structured Finance Law

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Credit Bidding at Bankruptcy Sales: A Powerful Tool, But Not Absolute


The authors discuss how recent bankruptcy cases may level the credit bidding playing field for lenders by initiating bidding caps during a bankruptcy sale process. They recommend proceeding with caution: Lenders who are overzealous, especially in “loan-to-own” scenarios, may invite accusations of unfair conduct that could undercut their right to credit bid.

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Jeffrey C.

Toole

Pre-Filing Advice for Individual Chapter 11 Debtors: Practical Tips and Pitfalls


"An individual Chapter 11 debtor faces many unsettled problems – problems that may jeopardize the debtor’s ability to reorganize successfully or that may require the debtor to pay more to creditors than the debtor hoped or expected."

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Jeffrey C.

Toole

Law Firm Bankruptcies: Partners May Run, but They Can't Hide


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Jeffrey C.

Toole

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