Michael "Mike" R. Paslay

In reorganization, insolvency, trouble asset, and distressed entity matters, Mike Paslay serves the needs of secured lenders, debtors, unsecured creditors’ committees, indenture trustees, and third-party purchasers. With an emphasis on municipal, manufacturing, and healthcare cases, Mike assists clients in:

  • Addressing fraudulent conveyances
  • Handling reduced capacity issues in the event of a bankruptcy filing
  • Monitoring complex and multi-jurisdictional cases
  • Structuring acquisitions

Mike combines his depth of knowledge and experience with his creativity and intellectual curiosity. Enjoyable, friendly, responsive, and dedicated, Mike serves clients from a variety of industries, including:

  • Automotive
  • Financial services
  • Healthcare
  • Hospitality
  • Manufacturing
  • Retail

In November 2011, Jefferson County, Alabama filed for Chapter 9 bankruptcy protection, making it the largest municipal bankruptcy ever filed at that time. Representing the trustee for certain sewer debt exceeding $3 billion, Mike and the Waller team were intimately involved in the historic proceedings.  In July 2013, the City of Detroit filed its Chapter 9 bankruptcy petition, thereby eclipsing Jefferson County as the largest municipal bankruptcy ever filed. Drawing on the experience provided in Jefferson County, Mike and the Waller team were tapped again to represent the trustee for Detroit's water and sewer bonds—totaling almost $6 billion—in this historic case.


Mike is certified as a Business Bankruptcy Specialist by the Tennessee Commission on Continuing Legal Education and Specialization and by the American Bankruptcy Board of Certification. Best Lawyers recognizes Mike for his work in Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. And most recently Mike has been listed as a "2017 Mid-South Super-Lawyer."


  • Certified, Business Bankruptcy Specialist by the Tennessee Commission on Continuing Legal Education and Specialization
  • Member, Nashville, Tennessee, Georgia, Texas and American Bar Associations
  • Certified, American Bankruptcy Board of Certification, Business Bankruptcy
  • Member, American Bankruptcy Institute
  • Former Member, Executive Committee, Tennessee Bar Association Bankruptcy Section Executive Council
  • Former Director, Mid-South Commercial Law Institute
  • Former President, Bankruptcy Section of Nashville Bar Association


  • J.D., Emory University School of Law, 1983
  • B.A., with distinction, University of Virginia, 1980

Legal Services

Industries Served

Bar Admissions

  • Tennessee

Up Close

Mike enjoys a variety of outdoor activities. From camping to cycling, he looks forward to being outside and active. He has been riding Trakehner horses for many years and has recently taken up fly fishing.