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I work effectively and collaboratively with clients. I want them to feel they have a trusted adviser. That means that they know I bring integrity, an ability to analyze how businesses function and how best to structure complex and innovative financial solutions, and deep experience assembling and leading a team of lawyers to get the work done.

Chambers LogoRichard Carmody is ranked Senior Statespeople in both Banking and Finance Law, and Bankruptcy/Restructuring Law in Alabama by Chambers USA.

Richard Carmody has practiced law for more than 45 years, has a nationwide reputation for solid counsel in the field of insolvency law (C&I) and secured lending, and has a network of referral sources that he has developed throughout his career. Richard is one of the firm’s principal bankruptcy attorneys, representing clients in difficult financial matters. He also provides counsel to lenders for complex commercial transactions and internal policies. In 1992, Richard became the first lawyer in Alabama to become certified as a specialist in Business Bankruptcy by the American Board of Certification.

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 he was a member of the Alabama Law Institute’s committees for revision of the UCC (Articles 3, 4, 4A, 5 and 9). Nationally, Richard is a founding member of the American Bankruptcy Institute, and he established and served as co-chair of the ethics committee of the ABI (1999-2005). In 2012, Richard was recognized as the ABI’s Outstanding Committee Member of the Year. Additionally, he served as vice-chair of the ABI's 2013 Task Force for Ethical Standards.

Richard was inducted as a Fellow in the American College of Bankruptcy in 1999. He has served as a director of the College Foundation and as a member of the Foundation’s pro bono committee. He currently co-chairs the Senior Committee. He is a frequent writer and lecturer on bankruptcy and commercial law topics. In 2017, the Alabama State Bar presented Richard with the Albert L. Vreeland Pro Bono Award.


  • 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, including assisting a Top 10 bank with national and international marine lending documentation and related policies.
  • Induction as a Fellow in the American College of Bankruptcy in 1999, an honor bestowed on less than 800 members of the worldwide insolvency practice 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 on and planning complex business transactions involving the purchase and sale of businesses and assets, including real property.


  • Vanderbilt University Law School, J.D., 1975
  • University of Illinois, B.A., 1964, Finance

Bar Admissions

  • Alabama


  • Chambers USA - Recognized Practitioner in Banking & Finance and Bankruptcy/Restructuring: Alabama, 2013-2024
  • AV® Peer Review Rated by Martindale-Hubbell
  • "Top 10 Powerhouse Lawyers Influencing Alabama’s Banking and Finance Sector" – 2023 Lawyer Awards, Business Today News
  • Alabama State Bar Albert Vreeland Pro Bono Award, 2017
  • National Appleseed Good Apple Award, 2017
  • Lifetime Achievement Award, B-Metro Magazine, 2014
  • Best Lawyers® - Bankruptcy and Creditor-Debtor Rights Law, Insolvency and Reorganization Law, Litigation - Bankruptcy
  • Alabama and Mid-South Super Lawyers® (by Thomson Reuters) Bankruptcy and Creditor-Debtor Rights, Banking, Real Estate, Bankruptcy: Business 2008-2017, 2019
  • Fellow, American College of Bankruptcy 1999 - Present
  • American Bankruptcy Institute, "Outstanding Committee Member of the Year," 2012
  • American College of Bankruptcy Foundation, Director
  • International Who's Who of Professionals
  • Military Awards - 3 Bronze Stars, Air Medal, 5 Army Commendation Medals, Presidential Unit Citation 1964 – 1972
  • Banking/Finance and Bankruptcy/Restructuring - Chambers USA
  • Evans Scholarship, Western Golf Association 1960 - 1964
  • “Top Attorneys”  - B-Metro and BHM Biz, 2016, 2017
  • 2016 Adams and Reese National Appleseed Senior Pro Bono Fellow
  • Who’s Who Legal: Restructuring & Insolvency 2017

Professional Affiliations & Memberships

  • Served on the Alabama Appleseed Founders Advisory Board; Former Alabama Appleseed Representative to National Appleseed Board
  • American Bankruptcy Institute, Vice Chair, ABI Special Task Force on Bankruptcy Ethics; ABI Veterans Task Force, Member; Member of several committees
  • Alabama State Bar Association
  • Birmingham Bar Association
  • American College of Bankruptcy, Fellow; Member of Pro Bono Committee
  • American College of Bankruptcy Foundation, Co-Chair of the Senior Committee

Richard has been on several CLE panels in the last five years, both ABI and NCBJ

  • What Do I Do with This 1099 Form from the IRS? ABI Spring Meeting 2022, Panelist
  • Cancellation of Debt Income:  A Ticking Time Bomb? ABI Spring Meeting 2022, Panelist
  • Look Before You Leap, Lessons Learned From CCRC Bankruptcies, American College of Bankruptcy Induction Meeting, March 2022, Moderator
  • Best Ethical Practices for the Consumer Lawyer, American Bankruptcy Institute Seminar, October 2017
  • The Ethics of Using Social Networking Sites, American Bankruptcy Institute Seminar, December 2015
  • Ethics & Professional Compensation/Real Estate: Ethical Implications in SARE Cases, American Bankruptcy Institute Winter Leadership Conference, December 2014
  • Professional Development Track: Social Media: What You Don’t Know Can Hurt You, American Bankruptcy Institute Annual Spring Meeting, April 2014
  • Final Report of the ABI National Ethics Task Force, American Bankruptcy Institute Spring Meeting, April 2013
  • Everything You Wanted To Know About Ethics But Were Afraid To Ask, American Bankruptcy Institute Seminar, February 2013