Thomas Benes Felsberg

Practice Areas

Restructuring and Insolvency, Aviation, Dispute Resolution, Governmental Relations, Privatization

Career

Thomas Felsberg is the Founding Partner of Felsberg Advogados and a global reference in insolvency and debt restructuring. Recognized by publications such as Latin Lawyer, Chambers and Partners, The Legal 500, and Leaders League as one of Brazil’s leading insolvency lawyers, he was a member of the committees responsible for the drafting of Brazil’s current Business Restructuring and Insolvency Law.

Dr. Thomas Felsberg remains actively engaged as Managing Partner, practicing lawyer, and strategic leader in some of Brazil’s most significant restructuring matters. He continues to play a hands-on role in client meetings, negotiations, and team guidance on complex cases, contributing his experience and strategic insight to both clients and colleagues.

His recent highlights include the BRL 2 billion restructuring of Concessionária Rodovias do Tietê S.A., the largest capital markets insolvency case in Brazil by number of investors, involving more than 15,000 debenture holders; the BRL 49.9 billion judicial reorganization of Grupo Americanas, winner of Latin Lawyer’s 2025 Deal of the Year in Restructuring; and the BRL 4.1 billion prepackaged restructuring of Casas Bahia, one of Brazil’s leading retail groups.

Thomas was the first Latin American lawyer to receive the Global Restructuring Review Lifetime Achievement Award, in June 2019, for his work in restructuring and insolvency involving both Brazilian and foreign companies. He was also presented with Chambers and Partners’ inaugural Lifetime Achievement Award, Brazil, on 31 March 2022, and with the International Insolvency Institute’s Founders Award in September 2022. More recently, he received the IASP Golden Jubilee Medal in 2025 and was honored by TMA at its XVII Congress.

Professional Memberships

• American Bankruptcy Institute;

• American College of Bankruptcy;

• Former Executive Committee Board member of the International Insolvency Institute;

• Member of the Advisory Board of the Brazilian Association of Infrastructure and Base Industries (ABDIB);

• INSOL International;

• Brazilian Institute of Company Restructuring Studies (IBR);

• Member of the Legal Council, Federation of Industries of the State of São Paulo (FIESP);

• Honorary Member of The Center for the Study of Law Firms (CESA);

• President of the Advisory Board of the Columbia University Club of Brazil;

• Member of the Board of the Columbia Global Center of Rio de Janeiro;

• President of the Advisory Board of TMA Brasil;

• Admitted to the São Paulo branch of the Brazilian Bar Association (OAB/SP).

Publications

Thomas is the author of an extensive list of books and articles in Portuguese and English, Thomas has actively participated as a speaker and panelist at congresses and conferences throughout the world.

Clients

• Concessionária Rodovias do Tietê S.A.

• Americanas

• Casas Bahia

• Paranapanema

• Companhia Siderúrgica Nacional – CSN

• Unigel

• Grupo Moreno

• ICBC

• Mobius Capital

• Renova Energia

• Ecovix Group

• Elektra Group

• Lupatech Group

• Federal Government of Brazil / Centrais Elétricas Brasileiras – Eletrobrás

• Rede Energia

Work Highlights

His recent experience includes advising:

• A group of more than 15,000 debenture holders of Concessionária Rodovias do Tietê S.A. in the largest capital markets restructuring case in Brazil to date in terms of number of investors, involving the restructuring of approximately BRL 2 billion in debt;

• In the BRL 49.9 billion judicial reorganization of Grupo Americanas, winner of Latin Lawyer’s 2025 Deal of the Year in Restructuring.

• Debenture and CRI holders in the BRL 4.1 billion pre-packaged restructuring of Casas Bahia, one of Brazil’s leading retail groups, including the implementation of the court-approved plan, the settlement of the CRI and the issuance and delivery of new debentures.

• Renova, a Brazilian renewable energy company in its BRL 3.1 billion judicial restructuring;

• One of the largest sugar and ethanol groups in the country in its judicial restructuring with over BRL 2 billion in debts;

• The second largest creditor in the BRL 98 billion debt restructuring of a Brazilian construction conglomerate; and

• Several creditors in the recently completed BRL 60 billion restructuring by a Brazilian telecommunications company.

Languages Spoken

• Portuguese

• English

• German

Education