Doug Bernstein, the managing partner of Plunkett Cooney’s Banking, Bankruptcy and Creditors’ Rights Practice Group in Bloomfield Hills, Michigan, has been named the new Chairman of H1 Unlimited Hydroplanes by its Board of Directors. Bernstein replaces Interim Chairman Charlie Grooms (Madison, Ind.) who took over in September after Steve David (Lighthouse Point, Fla.), who held the position for the previous two years, announced his retirement.
“Steve did a wonderful job for our sport by setting us up with new race sites and leading an effort that has engaged more interested sponsors and fans,” said Bernstein. “Now, we have to build on what Steve gave us and worked to take the sport to the next level.”
Bernstein, one of the leading bankruptcy attorneys in the Midwest, was the counsel to Hydro-Prop from 2002-2004, and has been the H1 Unlimited Legal Counsel since 2010, a Board Member since 2011 and has served as a Board Member for the Detroit River Regatta Association from 2005-2015, and now the Detroit Riverfront Events, Inc. since its formation in 2015.
The long time hydroplane enthusiast has attended every Detroit race since 1969, and has attended over 100 races over the years.
“I am proud to have been a part of the team that helped Detroit keep the tradition of unlimited hydroplane racing on the Detroit River for the last two years,” said Bernstein. “The sport has been a passion for me throughout the years. Then when I see passion and love of this sport its owners, drivers, crews and especially the fans, I can’t wait to lead H1.”
In his everyday job, Bernstein focuses his practice in the areas of commercial litigation, commercial loan restructuring and documentation, creditors’ rights, commercial and municipal bankruptcy, receiverships and other banking-related litigation and appeals on behalf of national and regional lenders and special servicers.
He was counsel to charitable foundations in the City of Detroit bankruptcy, who played an integral part in the City’s recovery, and served as an analyst for WJR Radio 760, WDIV-TV and other local, national and international print, radio and television outlets before and during those proceedings, and regularly appears as a guest on finance and general news radio and television programs to discuss banking law and bankruptcy issues, and he is frequently quoted by media covering the business, banking, and financial industries.
He currently serves as a member of the City of Pontiac Receivership Transition Advisory Board, and previously assisted the state of Michigan in the training of potential emergency managers and emergency financial managers. He also has a number of published appellate decisions to his credit and is a member of several professional organizations. He was also a Board Member of the Michigan Sports Hall of Fame from 2008-2009.
Bernstein lives in Royal Oak, Michigan with wife, Amy, and has a daughter, Lisa.