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USA Illinois Bankruptcy/Restructuring

The focus is on corporate bankruptcy and restructuring and the legal processes related to distressed businesses, which can either be reorganized or go into liquidation. Also, especially in the current economic environment, the chapter includes lawyers who advise on acquisition opportunities that arise out of distressed businesses. Lawyers in this chapter assist clients such as corporate debtors, investors and asset purchasers, secured and unsecured creditors and creditors` committees, bondholders, insurers, directors of distressed companies and any other interested parties in corporate restructurings and bankruptcy proceedings. In addition to transactional work, bankruptcy also covers any related litigation, such as disputes between such parties in connection with distressed companies and Chapter 11 and Chapter 7 processes.

Rankings overview for Departments

All Departments profiles

1
Band 1
  1. Kirkland & Ellis
    1
    Kirkland & Ellis
    Bankruptcy/Restructuring
    2022 | Band 1 | 17 Years Ranked
    A global leader in the field of bankruptcy and restructuring, and widely acknowledged as the preeminent practice for debtor representation in Illinois. Frequently takes the lead on the largest filings both nationally and globally. Expertise cuts across sectors, including financial services, telecom, energy and resources. Also noted for its representation of creditor-side clients.
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2
Band 2
  1. Latham & Watkins LLP
    2
    Latham & Watkins LLP
    Bankruptcy/Restructuring
    2022 | Band 2 | 17 Years Ranked
    Hugely-respected insolvency team, noted for its outstanding representation of creditor and debtor-side clients in the full range of bankruptcy work. Continuing strength in out-of-court restructurings, high-value Chapter 11 cases and cross-border bankruptcies. Also noted for its handling of matters such as distressed M&A and prepackaged bankruptcies.
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  2. Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates
    2
    Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates
    Bankruptcy/Restructuring
    2022 | Band 2 | 17 Years Ranked
    A powerhouse in the Illinois bankruptcy space, recognized for its representation of companies, creditors and investors in connection with restructurings and reorganizations. Offers a strong track record in matters with a cross-border component. Particularly prominent in matters pertaining to the oil and gas industry.
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3
Band 3
  1. Arnold & Porter
    3
    Arnold & Porter
    Bankruptcy/Restructuring
    2022 | Band 3 | 17 Years Ranked
    Strong bankruptcy and restructuring group with a focus on creditors' rights. Offers a broad range of expertise including syndicated loan restructurings, distressed M&A and debtor representation. Active across a range of sectors, including media and renewable energy.
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  2. DLA Piper LLP (US)
    3
    DLA Piper LLP (US)
    Bankruptcy/Restructuring
    2022 | Band 3 | 15 Years Ranked
    Respected Chicago team noted for its work on large cross-border bankruptcies. Particular strength in the representation of funds as investors in and purchasers of distressed companies, while also noted for its debtor-side representations in Chapter 11 bankruptcies.
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  3. Goldberg Kohn Ltd
    3
    Goldberg Kohn Ltd
    Bankruptcy/Restructuring
    2022 | Band 3 | 17 Years Ranked
    Wins recognition for its representation of creditor-side clients in midmarket bankruptcies and restructurings. Additional strength in the commercial finance space, while also impressing in bankruptcy litigation. Regularly acts for financial institutions and private equity firms as administrative agents.
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  4. Greenberg Traurig, LLP
    3
    Greenberg Traurig, LLP
    Bankruptcy/Restructuring
    2022 | Band 3 | 17 Years Ranked
    Well-regarded business reorganization and financial restructuring group, noted for its handling of matters across the USA. Particularly recommended for matters pertaining to the healthcare space, while also offering experience with bankruptcies in the energy sector.
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  5. Paul Hastings LLP
    3
    Paul Hastings LLP
    Bankruptcy/Restructuring
    2022 | Band 3 | 10 Years Ranked
    A strong presence in the Chicago bankruptcy space, with significant strength in both debtor and creditor-side representation. Acts for a varied roster of clients including lenders and natural resources companies. Further experience in distressed M&A.
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  6. Proskauer Rose LLP
    3
    Proskauer Rose LLP
    Bankruptcy/Restructuring
    2022 | Band 3 | 14 Years Ranked
    Handles bankruptcies and restructurings across a broad swath of industries, notably handling a number of high-value Chapter 11 cases on behalf of debtor-side clients. Niche expertise in advising private equity firms on the bankruptcies of portfolio companies and additional strength in bankruptcy litigation. Also noted for its handling of distressed M&A. Experienced counsel to creditors' committees.
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  7. Sidley Austin LLP
    3
    Sidley Austin LLP
    Bankruptcy/Restructuring
    2022 | Band 3 | 17 Years Ranked
    A well-respected practice in the Illinois bankruptcy market. Particularly noted for its representation of debtor clients, handling the full range of in-court and out-of-court restructurings and recapitalizations. Excels in cross-border matters thanks to the support of the firm's strong international network. Also active in distressed M&A.
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  8. Vedder Price PC
    3
    Vedder Price PC
    Bankruptcy/Restructuring
    2022 | Band 3 | 17 Years Ranked
    Noted for its handling of a broad range of matters including debtor-in-possession financing, Section 363 sales and creditor representation in Chapter 11 matters and out-of-court workouts. Enjoys a strong reputation for restructurings in the aviation finance space and boasts lawyers with experience in acting as court-appointed receivers.
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  9. Jenner & Block LLP
    Bankruptcy/Restructuring
    2022 | Band 3
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4
Band 4
  1. Adelman & Gettleman Ltd
    4
    Adelman & Gettleman Ltd
    Bankruptcy/Restructuring
    2022 | Band 4 | 17 Years Ranked
    Compact boutique recognized for its strength in all aspects of bankruptcy law. Represents both creditors and debtors in Chapter 11 cases, out-of-court workouts and distressed asset sales, among other matters. Also active in bankruptcy courts in Indiana and Wisconsin, in addition to its Illinois presence.
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  2. Cozen O'Connor
    4
    Cozen O'Connor
    Bankruptcy/Restructuring
    2022 | Band 4 | 2 Years Ranked
    Houses practitioners who are experienced in handling a range of bankruptcy and restructuring matters. Expertise covers workouts and bankruptcy-related litigation. Works with numerous clients, including debtors and creditors.
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  3. Katten
    4
    Katten
    Bankruptcy/Restructuring
    2022 | Band 4 | 10 Years Ranked
    Noted for its representation of lenders, indenture trustees, debtors and other parties in connection with insolvencies and restructurings, while also providing advice on the sale of distressed assets. Strong experience in sectors such as renewable energy, real estate and healthcare.
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  4. Mayer Brown LLP
    4
    Mayer Brown LLP
    Bankruptcy/Restructuring
    2022 | Band 4 | 17 Years Ranked
    Maintains its position in the Illinois market with a respected creditor-side offering focusing on the representation of senior secured lenders in restructurings and bankruptcy, while also impressing in its representation of clients in the purchase of distressed assets. Other areas of strength include bankruptcy litigation, such as the prosecution and defense of fraudulent transfer cases. Acts for a number of high-profile financial institutions.
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  5. McDermott Will & Emery LLP
    4
    McDermott Will & Emery LLP
    Bankruptcy/Restructuring
    2022 | Band 4 | 11 Years Ranked
    Wide-ranging practice offering both debtor and creditor representation. Acts for an impressive roster of financial institutions, including investment managers, multinational banks and bond insurers. Brings to bear notable industry expertise in areas such as healthcare, handling large-scale restructurings involving complex regulatory issues.
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  6. Perkins Coie LLP
    4
    Perkins Coie LLP
    Bankruptcy/Restructuring
    2022 | Band 4 | 11 Years Ranked
    Particularly recognized for its strength in the hotel bankruptcy space, routinely representing both creditors and debtors in the sector's highest profile bankruptcies and workouts. Clients include hotel owners, asset-based lenders and trade creditors. Also active in a broad range of other industries, including home-building, retail and healthcare. Areas of strength include advising on Chapter 7 trustee matters.
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  7. Foley & Lardner LLP
    Bankruptcy/Restructuring
    2022 | Band 4
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5
Band 5
  1. Dentons
    5
    Dentons
    Bankruptcy/Restructuring
    2022 | Band 5 | 17 Years Ranked
    Handles all aspects of bankruptcy law, including Chapter 11 reorganizations, workouts and restructurings. Also offers strength in asbestos bankruptcies and transactional work. A huge international footprint lends the team the capacity to handle cross-border work. Counts technology companies on its client roster.
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  2. Levenfeld Pearlstein LLC
    5
    Levenfeld Pearlstein LLC
    Bankruptcy/Restructuring
    2022 | Band 5 | 1 Years Ranked
    Levenfeld Pearlstein is noted for its strong restructuring practice. The firm's attorneys handle a wide range of matters, including workouts, reorganizations and financing transactions. They act for both debtors and creditors.
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  3. Neal, Gerber & Eisenberg LLP
    5
    Neal, Gerber & Eisenberg LLP
    Bankruptcy/Restructuring
    2022 | Band 5 | 13 Years Ranked
    Noted for its representation of all interested parties in large bankruptcies and restructurings throughout the USA. Particularly recommended for its work with business owners in Chapter 11 reorganizations. Further strength lies in out-of-court workouts and distressed M&A. Clients include trustees, debtors, secured creditors, equity holders, bondholders and both ad hoc and official creditors' committees.
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  4. Smith, Gambrell & Russell, LLP
    5
    Smith, Gambrell & Russell, LLP
    Bankruptcy/Restructuring
    2022 | Band 5 | 10 Years Ranked
    Noted for committee-side representation including unsecured creditors, receivers and trustees. Also experienced in representing debtors. Active for clients in bankruptcy matters nationwide, with particular strength in Chapter 11 cases.
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  5. White & Case LLP
    5
    White & Case LLP
    Bankruptcy/Restructuring
    2022 | Band 5 | 1 Years Ranked
    White & Case maintains a strong reputation for its experience in the bankruptcy arena. The team handles complex restructurings, regularly representing debtors, creditors and distressed investors. The firm is often sought out for its expertise in high-value Chapter 11 proceedings.
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  6. McDonald Hopkins LLC
    Bankruptcy/Restructuring
    2022 | Band 5
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