Ranking tables

Bankruptcy/Restructuring | USA

Illinois

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

Band 1

Kirkland & Ellis 19 Years Ranked

Band 2

Band 3

Band 4

Band 5

Senior Statespeople

Ronald R Peterson Jenner & Block LLP22 Years Ranked

Band 1

Band 2

Band 3

Band 4

Band 5

Up and Coming

All Departments profiles

Band 1

1
Kirkland & Ellis
Bankruptcy/Restructuring
2024 | Band 1 | 19 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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Band 2

2
Jenner & Block LLP
Bankruptcy/Restructuring
2024 | Band 2 | 19 Years Ranked
An impressive Chicago offering that draws strong praise from market observers for its broad strength in the bankruptcy sphere. Areas of excellence include avoidance action litigation, trustee representation and transactional insolvency work. Also noted for its experience in commodity broker bankruptcies and for its representation of Section 1114 retiree committees in major corporate bankruptcies.
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2
Latham & Watkins LLP
Bankruptcy/Restructuring
2024 | Band 2 | 19 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
Bankruptcy/Restructuring
2024 | Band 2 | 19 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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Band 3

3
Arnold & Porter
Bankruptcy/Restructuring
2024 | Band 3 | 19 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 real estate.
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3
DLA Piper LLP (US)
Bankruptcy/Restructuring
2024 | Band 3 | 17 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
Bankruptcy/Restructuring
2024 | Band 3 | 19 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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3
Greenberg Traurig, LLP
Bankruptcy/Restructuring
2024 | Band 3 | 19 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.
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3
Paul Hastings LLP
Bankruptcy/Restructuring
2024 | Band 3 | 12 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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3
Proskauer Rose LLP
Bankruptcy/Restructuring
2024 | Band 3 | 16 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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3
Sidley Austin LLP
Bankruptcy/Restructuring
2024 | Band 3 | 19 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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3
Vedder Price PC
Bankruptcy/Restructuring
2024 | Band 3 | 19 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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Band 4

4
Adelman & Gettleman Ltd
Bankruptcy/Restructuring
2024 | Band 4 | 19 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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4
Cozen O'Connor
Bankruptcy/Restructuring
2024 | Band 4 | 4 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, creditors and trustees.
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4
Foley & Lardner LLP
Bankruptcy/Restructuring
2024 | Band 4 | 19 Years Ranked
Recognized for its representation of creditors' committees, trustees and other creditor-side clients in connection with Chapter 11 cases across a range of industries. Offers sector-specific experience pertaining to the commodity broker industry, energy and healthcare. Activity in matters pertaining to the oil and gas sector. Accomplished advisers to indenture trustees.
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4
Katten
Bankruptcy/Restructuring
2024 | Band 4 | 12 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
Bankruptcy/Restructuring
2024 | Band 4 | 19 Years Ranked
Maintains its position in the Illinois market with a respected creditor-side 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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4
McDermott Will & Emery LLP
Bankruptcy/Restructuring
2024 | Band 4 | 13 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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4
McDonald Hopkins LLC
Bankruptcy/Restructuring
2024 | Band 4 | 4 Years Ranked
Particularly active in the midmarket space. Advises on a host of matters including Chapter 11 and Chapter 15 bankruptcies. Clients include private equity firms, commercial lenders and high net worth individuals. The team is experienced in the automotive, manufacturing and technology sectors.
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4
White & Case LLP
Bankruptcy/Restructuring
2024 | Band 4 | 3 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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Band 5

5
Dentons
Bankruptcy/Restructuring
2024 | Band 5 | 19 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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5
King & Spalding LLP
Bankruptcy/Restructuring
2024 | Band 5 | 2 Years Ranked
King & Spalding's team held in high regard for its strong lender side restructuring work. The practitioners are also highly adept at providing counsel to debtors on Chapter 11 proceedings. Its group has considerable experience of advising on restructuring matters across a range of sectors, including the utility and commodity industries. The team routinely demonstrates its ability to handle issues containing cross-border elements.
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5
Levenfeld Pearlstein LLC
Bankruptcy/Restructuring
2024 | Band 5 | 3 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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5
McGuireWoods LLP
Bankruptcy/Restructuring
2024 | Band 5 | 6 Years Ranked
McGuireWoods' team is renowned for its ability to handles bankruptcy proceedings on both the debtor and creditor sides. The team has experience in the full range of restructuring matters, including reorganization proceedings and litigation. The group has particular experience in the manufacturing and energy sectors.
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5
Perkins Coie LLP
Bankruptcy/Restructuring
2024 | Band 5 | 13 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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5
Smith, Gambrell & Russell, LLP
Bankruptcy/Restructuring
2024 | Band 5 | 12 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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