Victor E. Covalt III

Vic Covalt III, AttorneyVic Covalt has over 35 years of experience in the areas of business entities and transactions, litigation, real estate, bankruptcy, construction law, and bond and surety law.
Vic is experienced with secured transactions, deeds of trust, the Uniform Commercial Code, and Creditor-Debtor relations because he began his practice in the bankruptcy court, where the rules matter and a handshake is not “good enough.”

Vic has tried many bench and jury trials and appears regularly in state and federal court cases, particularly in bankruptcy and in corporate dissolution and partnership breakup cases.  Vic also designed a program of warehouse lending for mortgage originators which he still maintains for lenders today.  Vic is a master of designing simple but effective forms for businesses to use in daily transactions.

Vic has also advocated and achieved reforms in Nebraska’s bankruptcy exemptions scheme and most recently he helped pass election law changes which allow presidential delegation selections by caucus or primary, but which bind delegates to the voters’ selections.

Vic grew up in the Sandhills of Nebraska and brings an honest, hard-working, down to earth attitude to the office every day.  Vic was a top scholar in law school. He has a proven ability to transform academic excellence into success in the court room.

Vic has been married to his wife Ann for more than 34 years and he has two daughters and one grandson. Vic’s hobbies include fishing, kayaking, and exploring museums with his grandson.

AREAS OF PRACTICE

  • Limited Liability Companies, Corporations, and Partnerships
  • Lawsuits to partition real estate and divide businesses
  • Construction Litigation, including Bond and Lien Law
  • Banking and Mortgage Loans
  • Tax Sale Certificates

HONORS AND AWARDS

  • Liberty Bell Award, Lincoln Bar Association (1990)
  • Defender of the Bill of Rights Nebraska Civil Liberties Union (1991)
  • Best Lawyers in America for Bankruptcy, Banking and Finance (2006 – present)
  • Martindale Hubble AV (1998 – present)

PUBLISHED WORKS

  • Fifty States Construction Lien and Bond Law, 1st Edition (Joh Wiley & Sons 1992), 2nd Edition (Aspen Law, 2000), and 3rd Edition (Aspen Law 2104)
  • Performance Bond Manual, Lerner & Baum, ABA Books, 2006
  • Should the Surety Stand on its Equitable Subrogation Rights or File its Indemnity Agreement Under the Uniform Commercial Code? 69 Neb. Law Review 664 (1990) (Co-authored with Richard W. Smith)

REPRESENTATIVE CASES

  • Johnson v. Nelson, 290 Neb. 703, 861 N.W.2d 705 (2015)
  • Linscott v. Shasteen, 288 Neb. 276, 847 N.W.2d 283 (2014)
  •  In re Daake, 2011 WL 4889242 (Bkr. D. Neb. 2011)
  • In re White, 2011 WL 488835 (Bkr. D. Neb. 2011)
  • J.M. v. Hobbs, 281 Neb. 539, 797 N.W.2d 227 (2011)
  • In re Alvo Grain & Feed, Inc., 2010 WL 1430782 (Bkr. D. Neb. 2010)
  • In re EDM Corp. 431 B.R.459 (Bkr. App. 8th Cir.) (2010)
  • In re Sides, 2008 WL 5392012 (Bkr. D. Neb. 2008)
  • Stover v. County of Lancaster, 271 Neb. 107, 710 N.W.2d 84 (2006)
  • Niobrara River Ranch, LLC v. Huber, 277 F. Sup.2d 1020 (2003)
  • Neiman v. Neiman & Neiman Corporation. 2001 WL 1174016 (Neb. Ct. App. 2001)
  • Telex Communications, Inc. v. U.S., 40 Fed. Cl. 703 (Fed. Cl. 1998)
  • Matter of Worner, 214 B.R. 208 (Bkr. D. Neb. 1997)
  • Lydick v. Cross, 197 B.R. 321 (D. Neb. 1995)
  • Matter of Statmore, 177 B.R. 312 (Bkr. D. Neb. 1995)
  • Matter of Joy, 175 B.R. 303 (Bkr. D. Neb. 1994)
  • Matter of Joy, 169 B.R. 931 (Bkr. D. Neb. 1994)
  • Matter of Rupprecht, 161 B.R. 48 (Bkr. D. Neb. 1993)
  • Matter of K & L, Inc., 205 B.R. 589 (Bkr. D. Neb. 1991)
  • League v. Vanice, 221 Neb. 34, 374 N.W.2d 849 (1985)

PROFESSIONAL ASSOCIATIONS AND MEMBERSHIPS

  • American Bankruptcy Institute, Member (1984 – present)
  • Nebraska Association of Trial Attorneys, Member (1986 – present)
  • Nebraska State Bar Association (1981 – present)
  • Chair, Bankruptcy Section (1991 – 1992; 1996 – 1997)

CLASSES/SEMINARS

  • Litigation for Paralegals, Wesleyan University, 1985 – 1986
  • Numerous CLE presentations, Bankruptcy, Litigation, related topics 1985 – Present

LITIGATION PERCENTAGE

  • 70% of Practice Devoted to Litigation

BAR ADMISSIONS

  • Nebraska, 1981
  • U.S. District Court for the District of Nebraska, 1981
  • U.S. Court of Appeals, 8th Circuit, 1993
  • U.S. Tax Court, 1994
  • U.S. Court of Federal Claims, 1998
  • U.S. Court of Appeals, Federal Circuit, 1998

EDUCATION

  • University of Nebraska College of Law, Lincoln, Nebraska
    • J.D. – 1981, With High Distinction
    • Honors: Order of the Coif
    • Nebraska Law Review, Editor in Chief
  • University of Nebraska, Lincoln, Nebraska
    • B.A. – 1976, With Distinction
    • Honors: Dean’s List (1972-1976)
    • Major: History; Minors: Political Science and Geography
  • Alliance High School, Alliance, Nebraska
    • 1971, With Honors
    • Band, Track, Theater
    • Two time medal winner, Chadron Scholastic Contest

PAST EMPLOYMENT POSITION

  • Woods & Aitken, Partner (1984 – 1999)
  • Woods, Aitken, Smith, Greer, Overcash and Spangler, Associate (1981-1984)

PRO BONO AND COMMUNITY ACTIVITIES

  • Lancaster County Mock Trial Program (1982 – 1990)
  • Director, YWCA Terminators Youth Volleyball Club (2001 – 2004)
  • YMCA Recreational Softball Coach (1994 – 2004)