Profile
Thomas O. Ashby practices in the areas of bankruptcy, creditor rights (including rights in electronic commerce and intellectual property), commercial litigation and loan and credit procedures and documents. He regularly advances clients’ interests in debt-credit matters through litigation, establishing credit/collection forms and procedures, documenting credit transactions, negotiating credit defaults, arbitration, and/or mediation. Tom collaborates with fintech and payments in-house counsel and executives to help clients thrive proactively and during counterparty defaults and bankruptcies. Tom also has championed numerous banks and health care providers in insurance disputes and creditors and debt collectors in elimination of consumer class action threats.
Since 2019, Tom has been selected by his peers for inclusion in the Best Lawyers In America© for Banking and Finance Law. Tom has also been recognized by Great Plains Super Lawyers in the practice area of Creditor Debtor Rights.
Areas of Practice
Education
- University of Michigan Law School, J.D., cum laude, 1984
- University of Iowa, B.A., Political Science, with high distinction, 1981
Professional & Civic Affiliations
- Nebraska State Bar Association, a founding member of the Bankruptcy Section
- Nebraska State Bar Association, Education Committee of the Bank Attorneys Section
- Iowa State Bar Association, Commercial Law and Bankruptcy Section Council Member
- Iowa State Bar Association, E-Commerce Section
- Iowa Trial Lawyers Association, now known as Association of Iowans for Justice
- South Dakota State Bar Association, Debtor-Creditor Committee
- Greater Omaha President’s Council, Good News Jail & Prison Ministries, Chairman
- Grace University Foundation, former Board Member
- American Bankruptcy Institute, Member
Bar & Court Admissions
- Iowa, 1984
- Missouri, 2008
- Nebraska, 1984
- South Dakota, 2012
- Eighth Circuit Court of Appeals, 1984
- United States District Court for the District of Colorado, 2007
- United States District Court for the Central District of Illinois, 2021
- United States District Court for the Northern District of Iowa, 1984
- United States District Court for the Southern District of Iowa, 1984
- United States District Court for the Eastern District of Missouri, 2015
- United States District Court for the Western District of Missouri, 2014
- United States District Court for the District of Nebraska, 1984
- United States District Court for the District of South Dakota, 2012
Selected Practice Highlights
- Obtaining significant payments for creditors after litigation, such as a seven-figure mortgage foreclosure in Iowa that was fully paid, including interest on attorney fees, and a seven-figure realty foreclosure in North Dakota that was fully paid, despite the bankruptcy of the realty owner
- Teaming with other Baird Holm lawyers to prevail on summary judgment and state supreme court affirmance for a creditor accused of lender liability, despite more than 25 depositions on extensive and complicated facts
- Prevailing on a sanctions motion for a pretrial foreclosure decree and dismissal of lender liability claims, upheld by the Iowa Court of Appeals and Iowa Supreme Court
- Negotiating full payment arrangements for payments industry clients, including significant attorney fees, in multiple bankruptcies and ABC proceedings.
- Supervising briefing in a Nebraska Supreme Court case that overturned a trial court’s landmark decision against a hospital client involving hospital liens and debtor exemptions
- Working with a cross-disciplinary team to devise and edit procedures and forms for in-house collection systems at one of Iowa’s largest health systems
- Prevailing on summary judgment for a staffing company piercing care facility entity veils, ultimately leading to full payment with default interest and attorney fees
- Obtaining a ruling denying class certification in debtor-creditor litigation for pharmacy and veterinarian clients
- Obtaining a seven-figure summary judgment for Iowa bank excepting its debt from bankruptcy discharge and awarding attorney fees against the debtor
- Co-chairing the bankruptcy education track at the 2014 8th Circuit Judicial Conference
- Negotiating full payment plans for creditors in Chapter 12 and Chapter 11 bankruptcies, sometimes involving advanced concepts such as security interests in customer lists, probate estate bequests, business opportunities, government program payments, and tracing of diverted collateral
- Obtaining relief from bankruptcy stays for numerous creditors, such as banks, insurance companies and vendors without need for trial
Selected Recent Publications
- “Who is a Holder in Due Course and Why Your Clients Should Care,” State Bar of South Dakota Newsletter, July 2022
- “Paper Tigers? Cashier’s Checks, Nonpayment, and the Holder in Due Course Debate,” 138 The Banking Law L.J. 253 (May 2021)
- “Consensual and Nonconsensual Liens on Intellectual Property,” May 2020 (Iowa State Bar Assoc. seminar materials)
- “Representing Agricultural Creditors: Ideas for Progress after Default,” April 2019 (Iowa State Bar Assoc. seminar materials)
- “Amber Waves of Gain: Selected Tips for Agricultural Equipment Loan Defaults,” South Dakota Bar Newsletter, July 2018
- “Bankruptcy Executory Contracts: Selected Topics for Effective Advocacy,” Apr. 2018 (Iowa State Bar Assoc. seminar materials)
- “Early Dismissals of Reorganization Cases,” Oct. 2017 (Nebraska State Bar Assoc. seminar materials)
- “Representing the Agricultural Creditor,” Sept. 2017 (Iowa State Univ. seminar materials)
- “Bank Account ‘Offsets’ and Collateral Recovery”, South Dakota Bar Newsletter, Nov. 2016
- “Loan Workouts and Enforcement: Specific Tips to Enhance Effectiveness of Ag and Other Lenders,” Oct. 2016 (Nebraska State Bar Assoc. seminar materials)
- “Bankruptcy and Lien Considerations for Intellectual Property Lawyers,” Oct. 2015 (Nebraska State Bar Assoc. seminar materials)
- “Credit Workouts: Agricultural and Other Business,” May 2015 (Iowa State Bar Assoc. seminar materials)
- “Jury Waivers in Pre-Petition Documents as Binding on a Bankruptcy Trustee in Avoidance Actions,” American Bankruptcy Institute Journal, Apr. 2015
- “Clawback Actions in Bankruptcy: Three Ideas for a Defendant,”, South Dakota Bar Newsletter, Nov. 2014
- “Fraudulent Transfer and Preference Guide for the Real Estate Lawyer,” Sept. 2013 (Nebraska State Bar Assoc. seminar materials)
- “Fraudulent Transfers: Considerations for Transactional Counsel, Litigators, Lenders and Insurers,” Sep. 2013 (Iowa State Bar Assoc. seminar materials)
- “Loan and Credit Workouts: Specific Tips to Enhance Creditor Effectiveness,” Sept. 2013 (South Dakota Bar seminar publication)
- “Best Practices for Garnishment of Bank Accounts to Collect Debts,” Feb. 2013 (Banking Update, Baird Holm LLP)
- “Supreme Court Confirms Credit Bidding by Secured Creditors is Allowed in Bankruptcy Sale,” July 2012 (Banking Update, Baird Holm Law Firm)
- “Supreme Court Confirms Credit Bidding by Secured Creditors is Allowed in Bankruptcy Sale,” 2012 (South Dakota Bar Newsletter)
- “Charity Care and Community Health Needs Assessment,” 2012 (HFMA, Nebraska Chapter, seminar materials)
- “Consensual and Nonconsensual Liens on Intellectual Property,” 2012 (Iowa State Bar Assoc. seminar materials)
- “Bankruptcy Case Update,” 2012 (Nebraska State Bar Assoc. seminar materials).
- “Creditor Liability, Debt Collections Violations, and Class Actions: Selected Ethics Topics,” 2012 (Nebraska State Bar Assoc. seminar materials)
- “Creditor Liability, Debt Collections Violations, and Class Actions: Selected Ethics Topics,” Aug. 2011 (Nebraska State Bar Assoc. and NCLE, Inc., seminar materials)
- “Collections for Trial Lawyers,” June 2011 (Iowa Association for Justice, formerly the Iowa Trial Lawyers Association)
- “Consensual and Nonconsensual Liens on Trademarks, Domain Names and Patents,” Dec. 2010 (Iowa State Bar Assoc. seminar materials)
- “Bankruptcy Ethics: Conflicts of Interest, Attorney-Client Privilege, and File Closing Letters,” 2010 (Iowa State Bar Assoc. seminar materials)
- Ethics and Bankruptcy, The Nebraska Lawyer (Nebraska State Bar Assoc.), Feb. 2010 (co-author)
- “Ethics in Foreclosure and Bankruptcy,” 2009 (co-author), in Navigating through Choppy Waters, Nebraska State Bar Assoc. seminar materials
- “Ethics of Foreclosures,” 2009, in Foreclosures Update 2009, Nebraska Continuing Legal Education, Inc., seminar materials (affiliate of Nebraska State Bar Assoc.)
- “Collections 101 for the Trial Lawyer,” 2005, (Iowa Trial Lawyers Assoc. Annual Convention seminar materials)
- “More E-Commerce Considerations and Risks for Lenders,” 2004 (E-Commerce Section, Iowa State Bar Assoc. seminar materials)
- “E-Commerce Considerations and Risks for Lenders,” 2003 (Iowa State Bar Assoc. seminar materials)
- “Bankruptcy Challenges and Opportunities for Technology Vendors and Consultants,” 2003, co-author in Nebraska Lawyer (Nebraska State Bar Assoc.)
- “Reducing the Agony of Tort-Feasor Bankruptcy,” Feb. 1996, In Brief (published by the Iowa Trial Lawyers Association)