In a groundbreaking initiative, the Eleanor R. Cristol & Judge A. Jay Cristol Bankruptcy Pro Bono Assistance Clinic has developed an essential educational video in response to the widespread confusion following the MV Realty bankruptcy filing. This move comes after the MV Realty organization, operating across 30 states and engaging with over 40,000 homeowners, filed for Chapter 11 bankruptcy relief in the Southern District of Florida in late 2023, leading to investigations by attorney generals in multiple states over questionable practices.
"In creating our informational video, we aimed to empower homeowners affected by the MV Realty bankruptcy filing by providing clear guidance on how to generally navigate acting as a creditor in a Chapter 11 bankruptcy case, and more specifically, how to file a proof of claim,” said second-year law student Lawson Barkley. “Our goal was to help a wide range of individuals and ensure that they understand all of their rights."
The bankruptcy has left thousands of homeowners uncertain, grappling with questions about their rights and the impact on their homes, many without the means to secure legal representation. Recognizing the urgent need for guidance, the clinic mobilized to create a video to shed light on the bankruptcy proceedings and aid those affected.
The video, a product of meticulous research and collaboration with legal experts and authorities, including the Florida Office of the Attorney General and the Office of the United States Trustee, provides clarity and assistance to distressed homeowners. It covers general bankruptcy information and vital aspects of the proceedings, which were recorded by the University of Miami Law School A/V department and featured clinic students. It addresses common concerns shared by many affected by the MV Realty case.
"It was exciting that we could help people navigate the claims filing process," said 2L Elizabeth Hintz. “The project turned out to be a proof of concept as well. We have already received a request to do a similar instructional video in another district.”
The project has proven to be a vital resource for those directly impacted. Still, it has also sparked interest in creating more educational content to assist in other jurisdictions and proceedings. The clinic has received requests to produce additional videos highlighting their initial endeavor's significant impact and reach.
"We can often meet people who are very kind and decent,” said Bohdan Demidont, LL.M. ’24. “But even such people, by coincidence, can have difficulties, including financial ones. Many of these people deserve our attention. The desire to help as many of them as possible led to the idea of educating these people. Shortly after the idea, the bankruptcy clinic released an educational video. It shows both the progressiveness and dedication to the good deeds of the bankruptcy clinic participants.”
This initiative by the Bankruptcy Clinic demonstrates the power of legal education and the profound impact of community and academic collaboration in addressing and mitigating the repercussions of financial crises on individuals.
"It is very rewarding that the clinic's video can help thousands of impacted parties and that Chief Judge Kimball acknowledged it in court," said 3L Joseph Salzman.
Read more about Miami Law’s clinics.
