Jeffrey C. Toole - Buckley King

Jeffrey C. Toole

Listed in Best Lawyers since 2012
Phone: 216-685-4749

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 working out problem loans and navigating confidently through business bankruptcy cases and receiverships.  His wide-ranging experience includes representing:

  • Creditors' Committees
  • Debtors
  • Indenture Trustees
  • Leasing Companies
  • Secured Lenders
  • Unsecured Trade Creditors

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 must honor and how they can fulfill them, secured transaction and lending issues, and commercial  loan restructurings.

Kenyon CollegeBA 1982Cornell UniversityJ.D. 1985
American Bankruptcy InstituteCleveland Metropolitan Bar AssociationLease Enforcement Attorney NetworkAmerican Bar Association

Case History

Receivership — In a receivership of four mobile home parks (many of which had environmental problems), assisted our receiver client to obtain state court approval to sell the parks to several buyers "free and clear" of liens and claims, thereby maximizing the recovery to the parks' mortgage lender.
Bankruptcy — In mammoth California bankruptcy of a defunct leasing company involving dozens of lender banks and surety companies owed over $500 million, on behalf of multi-national bank, spearheaded negotiations and preparation of a global settlement agreement resolving substantially all conflicting claims among the affected parties in the bankruptcy, and maximized lenders' recoveries from the bankruptcy estate.

When an impasse occurred with lender, navigated the corporate client through a hotly-contested  bankruptcy reorganization, convincing the court to approve our client’s use of the lender’s cash collateral, and ultimately confirming a Chapter 11 plan under which our client’s business was sold as a going concern, maximizing recoveries for creditors, preserving all of its employees’ jobs, and enabling the business to continue. 


Enabled national bank and its participant lender to recover a debt from a continuing care retirement community (CCRC), devising a strategy for a state court receiver to operate the CCRC and then obtained court approval of a procedure for the receiver to sell the CCRC “free and clear of liens” as a going concern, eliminating all subordinate liens and recovering over $20 million. 


In the involuntary Chapter 7 bankruptcy of a national law firm, successfully recovered full payment for bank group on their multi-million dollar secured claims, and defended a lien avoidance lawsuit by the bankruptcy trustee, enabling the banks to keep all funds received before and during the bankruptcy. 

Client Comments

"Jeffrey has given Sigma Industries good advice in preparing our strategy. He is very professional."

-Denis Bertrand
Sigma Industries

Office Location

1400 Fifth Third Center
600 Superior Avenue East
Cleveland, OH 44114
United States

Practice Areas

Banking and Finance Law
Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
Commercial Transactions / UCC Law
Litigation - Bankruptcy

Other Information