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Attorney Tom Waldrep

Tom Waldrep | Partner
Business Insolvency, Commercial Bankruptcy

Office: 370 Knollwood Street, Suite 600, Winston-Salem, NC 27103
Phone: (336) 717-1280
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Tom represents secured creditors, debtors, unsecured creditors’ committees, and trustees in business bankruptcy cases. He has extensively represented buyers and sellers of assets in bankruptcy. Tom has noteworthy experience in cases involving healthcare debtors, especially hospitals, and regularly represents private equity groups and other financial institutions in buying and managing distressed healthcare assets, particularly in the Southeast. He also represents healthcare providers, particularly those looking to purchase or sell assets in or out of bankruptcy. Tom also has extensive experience in representing tort claimants in asbestos bankruptcies.

Prior to starting Waldrep Wall Babcock & Bailey PLLC, Tom founded and managed Waldrep LLP, a boutique bankruptcy practice. Prior to that, Tom was a partner in the Winston-Salem, North Carolina office of Womble Carlyle Sandridge & Rice, LLP. From 2004 to 2013, Tom was a United States Bankruptcy Judge with the United States Bankruptcy Court for the Middle District of North Carolina.

Tom is a 1983 graduate of the Indiana University School of Law. He has served the North Carolina Bar Association in several different capacities, including as Chair of the Bankruptcy Section and as a member of the Board of Governors. Tom is a frequent lecturer at continuing legal education seminars and law schools, and he has authored articles on insolvency issues.

Wall with diploma



  • J.D. 1983 Indiana University School of Law | Managing Editor, Indiana Law Journal, 1982-1983

  • B.A. 1979 Purdue University

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Bar Admissions


  • North Carolina, 1983

  • United States District Court, Middle District of North Carolina, 1983

  • United States District Court, Eastern District of North Carolina, 1983

  • United States Court of Appeals for the Fourth Circuit, 1984

  • United States District Court, Western District of North Carolina, 1992

  • Supreme Court of the United States of America, 1997

  • United States Court of Appeals for the Third Circuit, 2022

Glass globe statue



  • Listed in The Best Lawyers in America® (Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law), 2015-present

  • North Carolina Super Lawyers® (Bankruptcy), 2018-present

  • Ranked by Chambers USA (Bankruptcy-Restructuring / Band 1), 2015-present

  • “Legal Elite” in Bankruptcy Law in North Carolina, Business North Carolina, 2001-2004, 2015-present

  • Excellence in Leadership Award, YMCA of Greater Winston-Salem, 1999

Speaker at a conference

Professional Memberships


  • American Bankruptcy Institute

  • Federal Bar Association

  • National Association of Federal Equity Receivers

  • National Association of Bankruptcy Trustees

  • North Carolina State Bar

  • North Carolina Bar Association (Member - Bankruptcy Law Section)

  • Turnaround Management Association

  • Asbestos Litigation Group, American Association for Justice

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Civic Activities


  • Chair, Pastoral Council, Our Lady of Mercy Catholic Church, 2011-2015

  • President, Lewisville Civic Club, 2011-2013

  • Winston-Salem Family YMCA Board of Management, 2000-2001

  • Board of Directors, Piedmont Irish Children’s Summer Program, 1989-1999

An open binder on a desk

Selected Publications


  • “Forensic Examinations,” Fraud Fighter Podcast, October 4, 2021. Listen here.

  • “Building An Ethical Foundation,” National Business Institute (February, 2010)

  • “Medicare and Medicaid Receivables: Recoupment or Setoff?” Vol. XXI No. 5 American Bankruptcy Institute Journal 18 (June 2002)

  • “Selected Ethical Issues in Bankruptcy: Employment of Special Counsel, Representation of Multiple Creditors, and Withdrawal from Representation of Individual Debtors,” 10 Journal of Bankruptcy Law and Practice 343 (2001)

  • Credit Card Receivables: What Are Those Little Slips of Paper?, Vol. XIV No. 5 American Bankruptcy Institute Journal 20 (June 1995)

  • The Classification of Credit Card Receivables: re: Brendle’s Stores, Inc., 100 Commercial Law Journal 355 (Fall 1995)

  • Appeals from the Bankruptcy Courts, North Carolina Bankruptcy Practice Manual Chapter XXIII (rev. ed. 1989)

  • Executory Contracts and Unexpired Leases, North Carolina Bankruptcy Practice Manual Chapter XIX (rev. ed. 1989)

  • Co-author and editor, Chapter 12 of the Bankruptcy Code- Family Farm Reorganization, 2 Bankruptcy and Reorganization 1987 81 (A. Quittner & L. Luger ed. 1987) (Commercial Law and Practice Course Handbook Series No. 442)

  • Representation of Farm Creditors and the New Chapter 12, 8 The Bankruptcy Lawyer 145 (June 1987), continued in 9 The Bankruptcy Lawyer 155 (September 1987)

  • Sections 9-307(1) and 1-201(9) of the Uniform Commercial Code: The Requirement of Buying From a Person in the Business of Selling Goods of That Kind, 58 Indiana Law Journal 335 (1983)

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North Carolina Torts law book

North Carolina Bar Association


  • Strategic Planning Committee, 2008-2011

  • Board of Governors, 2001-2004

  • Finance Committee, 2001-2004

  • Chair, CLE Committee, 1998-2001

  • Chair, Bankruptcy Section Council, 1995-1996

  • Chair, Business Law Curriculum Committee, 1993-1995

A speaker at a podium

Selected Presentations


  • “Texas Two Step Bankruptcies (Canon 7),” Plaintiffs Asbestos Litigation Seminar (PALS), May 10, 2023, Las Vegas, NV

  • “Hot Topics in Bankruptcy 2022,” sponsored by the Turnaround Management Association (TMA), Chicago, IL, September 21, 2022

  • “Perspectives From the Field – Key Issues Impacting Healthcare in NC,” North Carolina Critical Access Hospital Statewide Meeting, Winston-Salem, NC, August 12, 2022

  • “Healthcare Bankruptcies,” 43rd Annual Bankruptcy Institute, online presentation, December 2020

  • “But I Am Afraid of Needles: The Sale of Healthcare Assets,” ABI 2020 Winter Leadership Conference, online presentation, December 2020

  • "Bankruptcy and Small Business: A Practical Course for Newcomers," Wake Forest Law and Thomson Reuters, on-demand web series, August 2020

  • "COVID-19 Crisis and the Bankruptcy Courts--Counsels' Perspective," Federal Judicial Center, telephonic, June 19, 2020

  • "Strategies in Multi-Lateral Negotiations," TMA Annual Meeting, Cleveland, Ohio, September 26, 2019

  • “Reviving Rural Hospitals – Healthcare in Transformation,” 2018 Turnaround Management Association Southeast Regional Conference & Capital Market, Naples, Florida, May 30-June 1, 2018

  • “Employment Law Concerns of Distressed Employers,” Western North Carolina Bankruptcy Seminar 2018, Charlotte, North Carolina, May 4, 2018

  • “Current Issues in Chapter 11 Cases,” 39th Annual Bankruptcy Seminar, Middle District of North Carolina, Durham, North Carolina, April 13-14, 2018

  • “Who Pays the Price for Health Care Insolvencies: the Consumer, the Vendors or the Public at Large?” Thirty-Fourth ABI Annual Spring Meeting, Washington, DC April 14-17, 2016

  • “Fiduciaries Gone Wild,” 38th Annual Bankruptcy Institute, Pinehurst, NC, November 6-7, 2015

  • “When Health Care Goes on Life Support: The Intersection Between Health Care and Bankruptcy Law,” Twentieth Annual ABI Southeast Bankruptcy Workshop, Amelia Island, FL, July 23-25, 2015

  • “Consent to Jurisdiction: Your Wellness Checkup,” South Carolina Bankruptcy Law Association Monthly Meeting, Columbia, SC, June 18, 2015

  • “A View from the Bench and Beyond,” TMA Carolinas Conference, Charlotte, NC, December 5, 2011 and December 3, 2012

  • “Ethical Issues in Bankruptcy Litigation,” Federal Bar Association 2011 Fall Banquet & CLE, Greensboro, NC, October 25, 2011

  • “Jaunty Judicial Debates: Resolved: The bankruptcy court has unfettered discretion in applying sanctions,” 7th Annual ABI Mid-Atlantic Bankruptcy Workshop, Hershey, PA, August 4-6, 2011

  • “Judicial Notice and Objections at Trial,” 30th Annual Bankruptcy Institute, Wilmington, NC, November 16-17, 2007

  • “Sales of Businesses in Bankruptcy,” Hot Topics for a Cool Economy, Business Law Section Annual Meeting, Pinehurst, NC, February 21, 2003

  • “Conflicts in Multiple Commercial Creditor Representation,” ABI Central States Bankruptcy Workshop, Traverse City, MI, June 6-9, 2002

  • “Ethical Dilemmas for Creditors’ Attorneys: Problems and Pitfalls in Multiple Representations,” ABI Winter Leadership Conference, Carlsbad, CA, November 29-December 1, 2001

  • “Bankruptcy Primer for Healthcare Providers,” New Developments in Health Law, Health Law Section Annual meeting, Research Triangle Park, NC, April 27, 2001

  • “The Ins and Outs of a Liquidating Chapter 11,” 23rd Annual Bankruptcy Seminar, Middle District of North Carolina, Southern Pines, NC, December 1-2, 2000

  • “Preparing for Litigation of Discharge Issues,” 21st Annual Bankruptcy Institute, Raleigh, NC, November 20-21, 1998

  • “Conflicts of Interest: Clear Sailing or Stranded on the Island?” 3rd Annual ABI Southeast Bankruptcy Workshop, Daufuskie Island, SC, August 6-9, 1998

  • “Practical Legal Ethics for the Bankruptcy Practitioner,” Eastern Bankruptcy Institute, Inc. Annual Seminar, Wrightsville Beach, NC, May 28-29, 1993

  • “Joint Administration and Substantive Consolidation,” 8th Annual Bankruptcy Seminar, Middle District of North Carolina, Southern Pines, NC, May 29-30, 1987

  • “Chapter 12 of the Bankruptcy Code – Family Farm Reorganization,” The Federal Land Bank of Columbia, Bankruptcy Seminar, Columbia, SC, February 13, 1987

  • “Farm Collateral,” 9th Annual Bankruptcy Law Institute, Raleigh, NC, December 5-6, 1986

  • “Executory Contracts and Unexpired Leases,” 6th Annual Bankruptcy Seminar, Middle District of North Carolina, Mid Pines Resort, Southern Pines, NC, May 31-June 1, 1985

  • “Representing Creditors Secured by Real Estate,” 7th Annual Bankruptcy Law Institute, Charlotte, NC, December 7, 1984

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