Sam J. “Mac” McAllester III is a founder and vice chairman of Bone McAllester Norton PLLC. For over 40 years, Mac has represented banks, financial institutions, and other lenders in the negotiation and structure of credit facilities secured by all forms of collateral and has prepared all necessary loan documentation. In addition, Mac represents his clients in the enforcement and collection of loans and realization against all types of collateral, including through workouts, restructures, bankruptcies, repossessions, and foreclosures. Mac says his goal is to fully protect the interest of his clients in the event of default and to completely recover his clients’ money.
Mac’s commercial lending practice involves negotiating, structuring, and documentation of all types and sizes of lending transactions and all types of collateral, including loans for business acquisition, real estate acquisition, development loans, construction loans, commercial and industrial loans and working capital facilities. His experience also includes the restructure, amendment, renewal, modification and consolidation of such loans. Mac’s real estate experience includes in-depth knowledge of real estate law and title underwriting. He currently serves as a licensed agent for two national title insurance companies.
Mac served as Chapter 7 Interim Trustee of the U.S. Bankruptcy Court of the Middle District of Tennessee and was a member of the Panel of Trustees of the U.S. Bankruptcy Court of Middle District of Tennessee for 17 years. Paired with his extensive representation of creditors, Mac is a leading attorney in his field. He regularly consults and represents clients on matters regarding insolvency, bankruptcy, preferences, fraudulent conveyances, and proof of claim issues.
Mac is a frequent speaker and panelist at seminars on commercial lending, loan documentation, real estate, secured transactions, and creditors’ rights for his clients and other professional groups and organizations.
Representative matters that Mac has handled include:
- Representation of commercial lenders in secured and unsecured commercial financing transactions, including refinancing, acquisition and development and construction loans.
- Representation of financial institutions and creditors in commercial litigation, collections and other related litigation.
- Representation of local and national creditors in bankruptcies, restructures, workouts and realization on collateral.
- Represented commercial lender in a $24.75 million hotel construction loan.
- Represented a lender in an aircraft financing transaction.
- Represented lender in the acquisition and construction of a shopping center.
- Represented borrower in a $200 million commercial loan secured by collateral in multi-states.
- Represented international company in the purchase and acquisition of local company.
- Provides local counsel opinion letters for large multi-state lending transactions.
- Represents sellers and purchasers of real estate.
Professional Recognition and Activities
- AV© Rating, Martindale-Hubbell
- The Best Lawyers in America©
- Best of the Bar, Bankruptcy Law, Nashville Business Journal
- Mid-South Super Lawyers
- Nashville Bar Association
- Tennessee Bar Association
- American Bar Association
- American College of Mortgage Attorneys
- Former Board of Regents
- Former Tennessee State Chair
- American Bankruptcy Institute
- Nashville Bar Foundation Fellow
- Nashville Area Habitat for Humanity: Advisory Board of Directors and Member of Finance Committee, 2012 – Present
- Nashville Area Habitat for Humanity
- Board of Directors
- Finance Committee
Mac is a third generation attorney from Chattanooga, Tennessee. His father and grandfather were both lawyers, and his grandfather was the first Bankruptcy Referee in Chattanooga. Today, Mac resides in Brentwood with his wife, Renee. Together, they have four children, Andrew, Molly, Phillip and Stephanie, and ten grandchildren, Jack, Rhett, Clay, Sydney, Serenity, Beau, Jordan, Will, Mary Holland, and Hudson. Fortunately, all of the children and grandchildren live in the Williamson County area and are a great part of Mac’s life.
Mac and Renee are “Parrotheads” and enjoy Jimmy Buffett music and concerts. They also have a residence in South Florida, where they enjoy the beach, boating, traveling to the Caribbean Islands, and blue saltwater. Mac also enjoys serving “Mac-a-ritas” for special occasions. Mac grew up in a family where both his grandfather and father were lettermen at the University of Tennessee. He is also an undergraduate and law school graduate of UT, which has made Mac a rabid University of Tennessee supporter and fan.