Richard P. Carmody - Adams and Reese LLP

Richard P. Carmody

Listed in Best Lawyers since 1995
Phone: 205-250-5033


Richard Carmody joined Adams and Reese in 2003 as part of a merger with an Alabama law firm in which he had practiced since 1975. He practices primarily in the area of insolvency law (“C&I”), and has a network of referral sources that he has developed throughout his career. A founding member of the American Bankruptcy Institute, Richard has a nationwide reputation for solid counsel in the field of C&I.

As one of the firm’s principal bankruptcy attorneys, Richard represents clients in difficult financial matters. He also provides counsel to lenders for complex commercial transactions and internal policies. In 1992, he became the first lawyer in Alabama to become certified as a specialist in Business Bankruptcy by the American Board of Certification.

His significant contributions and honors include:

  • Representing clients with a broad spectrum of interests in difficult financial situations, including secured lenders in documenting loans and loan work outs, unsecured creditors in bankruptcy proceedings, debtors in bankruptcy reorganizations, trustees in special bankruptcy litigation matters and purchasers of assets from bankruptcy estates.
  • Representing clients in Bankruptcy Courts in the three Federal Districts in Alabama, as well as Delaware, New York, Mississippi, Tennessee, Texas and, Arkansas . He has prosecuted and defended financial institutions in federal and state courts on matters involving every facet of commercial law, including the Uniform Commercial Code.
  • Providing counsel to lenders and borrowers in complex commercial lending transactions, including forestry and agricultural loans. He has assisted in the development of lending forms and lending policies for financial institutions, most recently assisting a Top 10 bank with marine lending documentation and related policies. 
  • Induction as a Fellow in the American College of Bankruptcy in 1999, an honor bestowed on just 650 members worldwide according to exacting criteria for insolvency professionals, including demonstrated experience and participation in the development of the law through scholarship (publishing and teaching) and pro bono activities.
  • Counsel and planning on complex business transactions involving the purchase and sale of businesses and assets, including real property.

On the state level, Richard helped establish and served as the first Chair of the Alabama State Bar Section on Bankruptcy and Commercial Law and is a member of the Alabama Law Institute’s Committees for revision of the UCC (Articles 3, 4, 4A, 5 and 9). 

Nationally, Richard established and served as co-chair of the Ethics Committee of the American Bankruptcy Institute (1999-2005), and he also served as Vice Chair of the ABI's National Ethics Task Force. He also is served as a director and member of the Standards Committee of the American Board of Certification.  In 1992, he became the first lawyer in Alabama to become certified as a specialist in business bankruptcy by the American Board of Certification. In 1999, Richard was inducted as a fellow in the American College of Bankruptcy and currently serves as a senior director of the College Foundation, Chair of the Development Committee, and member of the Pro Bono Committee. He is a frequent writer and lecturer on bankruptcy and commercial law topics.

Before attending law school, Richard served eight years as an officer in the United States Army Field Artillery, including two tours in Vietnam. He admires his wife, an Episcopal priest, and two adult daughters (the older of whom also is ordained) “for their dedication to the dignity of every human being.” In his free time, Richard enjoys golf, travel, public service, a variety of spectator sports and reading non-fiction — especially history.

Vanderbilt UniversityJ.D. 1975University of Illinois at Urbana–ChampaignBA 1964

Case History

Jefferson County, Alabama Chapter 9 — Represented bond insured of sewer debt in excess of $2.5B. Prior to Detroit's filing, this was the largest Chapter 9 bankruptcy in U.S. history.

Client Comments

"Richard is an extremely competent and reliable lawyer and has been a go-to bankruptcy and transactional lawyer for our company for many years. He is always responsive and timely, and he proactively keeps us apprised of legal developments that would concern us. We feel comfortable that our legal interests are being protected when Richard is representing us."

"Richard has represented our company in matters under my direction for a number of years. His knowledge and experience, coupled with a keen awareness of the need to keep abreast of the changing environment in our industry, make his counsel an even more valuable asset. He has been adept at finding avenues of opportunity that would be overlooked by many of his counterparts. That said, Richard commands respect from opposing counsel in resolving matters of importance to his clients. I am pleased to express my opinion of a very qualified attorney in matters of bankruptcy law and commercial transactions in particular, but in any matter requiring a person with integrity in dealing with troubled transactions."

-Charles Elliott
Senior Vice President
Regions Bank

"Mr. Carmody is a professional who has specifically assisted us in the creditor's rights, work-out, and bankruptcy areas of practice. His extensive knowledge of these areas of practice and his significant experience have helped us in many situations over the past several years. Mr. Carmody is a pleasure to work with on a daily basis."

-Ron Downey
Vice President
Regions Bank

"Richard is not only astoundingly knowledgeable, but is one of the best strategic thinkers I have ever had the pleasure of observing. His negotiation and deal-making skills are unparalleled. He delivers top-quality work in a timely and efficient manner, always with an eye to the client's ultimate best interest. It is a perk of the in-house job to be able to watch and learn from lawyers like Richard."

-E. Berton Spence
Deputy General Counsel
Regions Bank

"In the 30-plus years I have been dealing with Mr. Carmody, he has always been able to understand the business part of the transaction and layer his deep legal knowledge over it, then coming up with solutions that pleased both sides of the transactions. His solutions provided to-the-point documents at a fair price. My customers always enjoy his thoughtfulness, speed, and expertise. So do I."

"Richard has handled various loan-related legal matters for our bank. He has handled closings with U.S. based companies that were complicated in structure. He has handled closings with foreign companies that required coordinating with our client's counsel and specific documentation. Richard has handled lawsuits on loan-related cases with positive results for our bank. Richard has handled loan workouts for our bank with regional clients. Richard has always been a pleasure to work with and all dealings have been handled in a superior, professional manner."

-Clayton Ingram
City President
Regions Bank

"I have worked with Mr. Carmody for over 20 years utilizing his professional services. He has represented the Bank in loan closings and problem loan workouts. His knowledge, wisdom, and counsel have proved beneficial to our bank and our lending staff, increasing our productivity and profitability in these transactions. His professionalism and positive approach is refreshing and appreciated in consummating transactions in a timely and efficient manner. "

-Brett Morgan
City President
Regions Bank

Office Location

Regions Harbert Plaza, Suite 3000
1901 Sixth Avenue North
Birmingham, AL 35203
United States

Practice Areas

Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (Banking, Chapter 12, Commercial, Creditors' Rights, Lender Liability, Loan Documentation, Out-of-Court Workouts, Real Estate, Workouts and Restructurings)
Litigation - Bankruptcy