Bankruptcy/Restructuring: Pennsylvania

THE FIRM This practice offers the full range of bankruptcy and restructuring services.  The group is particularly well known for its representation of creditors, and has represented unsecured creditors in a number of committees of late, including those of Miller Bros. Coal, AES Thames and PFF Bancorp. It also regularly represents debtors in related litigation, workouts and reorganizations. Clients appreciate the team's impressive depth of knowledge and extensive set of resources, while peers acknowledge its strategic approach to cases.

Sources say: "I don't think you'll find a better practice in the region." "Their industry knowledge is terrific."

KEY INDIVIDUALS Senior statesman Raymond Shapiro is described as a "classy senior practitioner" who is "enshrined as a dean of the Bar." His practice has included counseling New Chrysler on contentious matters with Daimler.

Thomas Biron is a stalwart of the Pennsylvania Bar. His recent work has focused on contentious matters relating to consolidation, corporate governance and breach of fiduciary duty. Sources say: "He is a real advocate for his clients and is passionate about what he does." 

Regina Stango Kelbon chairs the firm's bankruptcy practice. She is recognized for her representation of financial institutions; other notable experience includes acting as counsel to the creditors' committee of Lower Bucks Hospital.

Joel Charles Shapiro is well regarded for his bankruptcy practice. Peers note that he has "successfully carved his own niche" in the market, advising on aviation foreclosure cases. 

Michael Schaedle's bankruptcy expertise encompasses all aspects of the practice area. Clients appreciate "his ability to use his understanding of the bankruptcy code to formulate an excellent plan." Alongside Biron, he successfully represented construction lender iStar Financial in relation to the dismissal of a Chapter 11 filing.  

Since publication, Leon Barson has joined the team from Pepper Hamilton. Barson is rated for his debtor's side representation and is acknowledged for his expertise in Chapter 9 proceedings. He has a strong following and earns significant praise from respected members of the legal community. "He is just outstanding," said one peer.  

THE FIRM This highly regarded practice has a strong presence in Pennsylvania, with offices in both Philadelphia and Pittsburgh. The team comes highly recommended for its representation of secured lenders in troubled loans and for its bankruptcy litigation expertise. Recent highlights include acting for BlackRock on the appointment of a Chapter 11 trustee and on the subsequent reorganization of its mortgage debt on the Pittsburgh Hilton Hotel. The firm has seen significant activity in the healthcare sector, and is also particularly adept at representing financial institutions. Notable clients include PNC Bank, Siemens Medical and National Penn Bank.

Sources say: "This firm has a rock-solid bankruptcy practice."

KEY INDIVIDUALS Claudia Springer maintains her impressive position in the market, winning praise from all corners. She has notable experience acting for all parties involved in bankruptcy proceedings, and was recently appointed lead lawyer for the creditors' committee of the Philadelphia Orchestra's Chapter 11 filing. Also advising on this matter is Paul Singer, whose extensive experience dealing with both creditors and debtors is key. He is regarded as a "first-rate" lawyer who understands "how to get a goal accomplished."

Peter Clark is the head of Reed Smith's commercial bankruptcy and restructuring practice in Pennsylvania. He routinely represents financial institutions in workouts and other troubled loans, and earns distinction for his ability to adapt his litigation and thinking style to individual businesses.

Eric Schaffer represents indenture trustees in insolvency cases, and also handles bankruptcy cases for both secured and unsecured creditors. He advised Wells Fargo on the $150 billion reorganization of subordinated debt for an offshore oil exploration company.

The up-and-coming Derek Baker "is polished, articulate and presents well," sources say. He earns increasing market recognition for his practice.

THE FIRM The prestigious Dilworth Paxson is a strong competitor in Pennsylvania's bankruptcy field. It is particularly experienced and well known for acting as debtor's counsel. Following its notable representation of Philadelphia Newspapers, the team was retained as lead counsel for the Philadelphia Orchestra's high-profile Chapter 11 filing. The firm is recognized in this market for the quality of its work and the continued growth of its impressive practice. 

Sources say: "This is an excellent bankruptcy practice - it has a high profile and credibility in the market."

KEY INDIVIDUALS Lawrence McMichael has an enviable reputation in the market as debtor's counsel and is acting as the lead attorney on the Philadelphia Orchestra bankruptcy. Clients enthuse: "He is whip-smart, can understand complicated issues and explain them in a simple and straightforward way." 

Martin Weis has extensive experience in litigation matters, and has represented both creditors and debtors in bankruptcy cases in a variety of industry sectors including aviation, accountancy and minerals. He is commended for his calm and even approach to briefs. Weis and Peter Hughes split their time between Philadelphia and the firm's Wilmington, Delaware office. Hughes' reputed strength lies in the litigation of contentious bankruptcies, where he is noted for his depth of experience with respect to financial matters. 

Anne Marie Aaronson deals with both Chapter 7 trustees and Chapter 11 debtors, and is just as comfortable litigating bankruptcies as acting on workouts. "The quality of her preparation and work has been absolutely first-rate," comments one satisfied client.

THE FIRM This efficient team has strength in all areas of this market, including bankruptcy litigation, out-of-court settlements and restructuring. It earns particular respect for its representation of secured creditors, commercial acumen and willingness to understand individual businesses. The practice's extensive client base is supported by its impressive bench and nationwide presence.

Sources say: "They are proficient on the bankruptcy issues and good at finding business solutions; they are straightforward, no-nonsense and easy to work with."

KEY INDIVIDUALS Margery Reed is a well-known name in the market; she is "a knowledgeable and astute litigator" according to sources. She is singled out for her representation of financial institutions and insurance companies who are acting as creditors or secured lenders. "She has become an incredible expert," commentators note.

Lawrence Kotler is well regarded for his courtroom practice where he regularly represents trustees and debtors. He wins market praise for his strength in "identifying key issues and simplifying complicated matters." 

Rudolph Di Massa's bankruptcy clients include financial institutions in both Pennsylvania and New York. "He will not waste time beating around the bush and has good business sense," approving commentators say. 

James Holman also practices out of New York as well as Philadelphia. He impresses sources with his "commitment to clients and cases and deep investment in his strategy."

John Horstmann is appreciated for his ability to "think outside the box and come up with solutions." He comes highly recommended for his expertise in workouts and for his "accurate insights."

THE FIRM This compact team is recognized as a high-quality bankruptcy shop by peers and clients. Its extensive expertise covers all aspects of the bankruptcy field, and the group is particularly adept at dealing with insolvencies in the insurance and healthcare sectors. It also represents governmental bodies and both secured and unsecured creditors in workouts, restructurings and litigation. The firm's prestigious clients include the Philadelphia Redevelopment Authority, CitiMortgage and Atlantis Petroleum.

Sources say: "A firm I look to for complicated issues - the attorneys are very bright, write strong briefs and are responsive and cost-effective."

KEY INDIVIDUALS Joseph Dworetzky is regarded as a leading light in this market. "He doesn't just look at what is in front of him but looks beyond and brings a fresh perspective," notes one client, while another enthused: "He is one of the most brilliant people you will ever meet." In 2011 he advised the Commonwealth of Pennsylvania on a number of insolvencies. 

James Matour recently acted for a property developer on a Chapter 11 dispute relating to the construction of a new courthouse. Sources say: "He commands respect and gets his point across." 

Ashely Chan is another popular choice in the market, particularly with public entities. She represents the City of Philadelphia in all bankruptcy cases outside the city. "She is practical and has a great ability to get to the heart of a problem," clients comment.

Matthew Hamermesh enters the rankings this year, earning high praise for his business insight and courtroom presentation. Recent work includes advising a client on the purchase of interest from a Chapter 11 debtor.  

THE FIRM Pepper Hamilton's corporate restructuring and bankruptcy practice is a force in the region and regularly deals with workouts, restructurings, bankruptcy litigation and reorganizations. It has a broad focus and is active in a number of sectors, with numerous recent representations involving the healthcare, asbestos and food industries. The group's clients include Amatex and IASIS Healthcare. 

Sources say: "This department is comprised of excellent lawyers."

KEY INDIVIDUALS Francis Lawall gains credit for his results-oriented practice and analytical skills. He represents creditors' committees and advises on company reorganizations. 

Michael Reed has an excellent reputation as an accomplished bankruptcy and restructuring attorney, and is also well known for his appellate work.

THE FIRM This team represents clients across the board in a range of bankruptcy and restructuring cases. It is recognized for its solutions-focused work and cross-disciplinary offering. It recently advised The Kimmel Center in relation to the Philadelphia Orchestra's Chapter 11 filing.

KEY INDIVIDUALS Practice group cochair Neal Colton "knows bankruptcy extraordinarily well" and wins praise as "a tireless advocate and an expert litigator." He acts as national insolvency and credit counsel for G4S Secure Solutions.

THE FIRM Drinker Biddle has seen a recent influx of restructuring matters in Pennsylvania. Notably, it represented Citizens Bank as the agent of the senior secured lenders in the Tasty Baking restructuring case. The team is regularly retained by financial institutions, including GE Capital; other key clients include Penske Truck Leasing.

Sources say: "The group has a good business focus - they are responsive and diligent and delegate well."

KEY INDIVIDUALS Star individual Andrew Kassner chairs the corporate restructuring group, dividing his practice between Pennsylvania and Delaware. He focuses on acting for senior lenders, and is also highly proficient at representing creditors' committees. He is described by one interviewee as "one of the top talents in Pennsylvania - his judgment is impeccable in every situation." 

Andrew Flame wins acclaim for his focus on real estate insolvency. He regularly acts on behalf of lenders and creditors in litigation, foreclosures and restructuring cases. "He is extremely effective," say sources.

THE FIRM Fox Rothschild's bankruptcy team is based in Philadelphia, where it enjoys a growing reputation in the Pennsylvanian market. It is adept at dealing with Chapter 7 and Chapter 11 filings and is proficient in its representation of debtors, trustees and creditors' committees. Clients appreciate the firm's range of expertise, flexibility and negotiation skills.

Sources say: "This team will drive home a practical, sound deal." 

KEY INDIVIDUALS Senior counsel Michael Temin is a seasoned practitioner who brings a wealth of experience to bankruptcy and insolvency cases.

Practice group chair Michael Menkowitz is a popular figure in the bankruptcy market. Recent highlights include representing Titan Loan Investment Fund in bankruptcy litigation. "He is very thorough and does an excellent job at keeping everyone focused," say sources. 

Josh Klein has expertise advising clients on both Chapter 11 and Chapter 7 filings, and recently represented a number of unsecured creditors' committees in bankruptcy proceedings. He is appreciated in this field for his insight and attention to detail. 

THE FIRM This Philadelphia-based team is well known in Pennsylvania. It wins substantial recognition for its assertive representation of creditors in litigation, and is also a player in workout and collection processes.  

KEY INDIVIDUALS Jeffrey Kurtzman handles a significant number of Chapter 11 filings. He is increasingly popular in Pennsylvania, and is also active in Delaware and New York. 

Morton Branzburg is a "clever, talented guy who handles highly contentious matters." He routinely represents lenders, creditors, financial institutions and others in workouts, restructurings and bankruptcy litigation. 

THE FIRM This group is located in Pittsburgh and stands out for its representation of creditors in bankruptcy cases. It regularly acts on behalf of financial institutions and has recently acted on cases in a range of sectors, from retail to real estate.

KEY INDIVIDUALS William Schorling has an excellent reputation among his peers. He continues to be active in his representation of major banks in workouts, loan restructurings and foreclosures.  

THE FIRM This boutique in Pittsburgh has an excellent reputation for its representation of both creditors' committees and debtors-in-possession. The team has played key roles in bankruptcies in the healthcare, asbestos and industrial arenas.

Sources say: "They are considered a go-to firm in Pittsburgh."

KEY INDIVIDUALS Name partner Douglas Campbell offers expertise in all areas of bankruptcy law. "You can count on his personal attention and intellect to get good results," says one peer. "He is a very honorable adviser," adds another.

Hospital insolvencies are a real area of expertise for Stanley Levine, who is also adept at handling out-of-court settlements and corporate bankruptcies. He regularly represents both creditors and debtors, and interviewees say: "He is thorough and a pleasure to work with."

THE FIRM Eckert Seamans is particularly active in the midmarket, where it regularly represents debtors and unsecured creditors' committees. It is respected for its impressive hospitality practice and attracts significant cases in this area. Recent highlights include representing the hotel management in the Sawgrass Marriott's Chapter 11 proceedings. 

Sources say: "This team is well versed in bankruptcy regulations."

KEY INDIVIDUALS Clients appreciate Gary Schildhorn's communication skills, together with his "grasp of the problems, energy and creativity." He advised the unsecured creditors' committee in the Philadelphia Newspapers bankruptcy and has been building his expertise in dealing with fast-food restaurant chains. 

Kitt Turner divides her practice between Philadelphia and Wilmington. She specializes in representing home warranty insurance providers in matters such as debtor disputes and home builder bankruptcies. She is well known for her direct and assertive style.

THE FIRM This firm's bankruptcy and restructuring practice is rated for its representation of a variety of financial institutions, including Wilmington Savings Fund Society, First Niagara Bank and Wells Fargo. The team recently acted on a number of foreclosures for Wells Fargo relating to construction projects, and oversaw foreclosure and lender liability defense for Berkadia Commercial Mortgage. 

Sources say: "This group combines expertise, responsiveness, creativity and tenacity to get us where we want to be."

KEY INDIVIDUALS Rosetta Packer regularly advises banks on their involvement in insolvency cases. "Aside from being a true client advocate, she gets her point across and can facilitate a transaction very well," highlights one source.

THE FIRM This group offers expertise in all aspects of bankruptcy and restructuring, and focuses largely on out-of-court consensual settlements. The firm boasts impressive regional coverage and the ability to cater to the full range of parties involved in bankruptcy proceedings.  

Sources say: "They have done an excellent job - they are knowledgeable, have good business acumen and a quick turnaround."

KEY INDIVIDUALS Barry Kleban represents a range of clients in Chapter 11 filings, including unsecured creditors' committees, insurance companies and service providers.  He wins plaudits from all corners for his "wonderful demeanor," his "excellent communication skills, both written and verbal" and "his great attention to detail and practicality."

Gary Bressler divides his time between the firm's Philadelphia and Wilmington offices.  Sources enthuse: "He is incredibly thoughtful and hard-working, his analysis is really good and he is great at finding a way to distinguish a case." 

THE FIRM This finance and restructuring practice offers strength in all aspects of bankruptcy law. The team focuses on litigation, reorganizations and workouts, and earns praise for its understanding of nonprofit governance and its cost-effective approach. Recent highlights include advising the Philadelphia Museum of Art in relation to the Salander-O'Reilly Galleries bankruptcy filing. Other notable clients include Alvarez & Marshall, PwC and Child Welfare League of America.

Sources say: "They are knowledgeable, responsive, bright and enjoyable to work with."

KEY INDIVIDUALS Michael Bloom has established a good reputation, particularly in the entertainment sphere. His clients are keen to note his strengths, commenting: "He is direct and thorough and presents options in a clear and direct manner."

John Goodchild focuses on bankruptcy litigation. "He communicates on a practical level, is always available and has a brilliant legal mind," say sources.

THE FIRM Saul Ewing's bankruptcy practice is well regarded in the market, advising both debtors and creditors on cases in a range of sectors including financial services, technology and healthcare. The team has notable expertise in both litigation and out-of-court settlements.

KEY INDIVIDUALS The "smart and creative" Jeffrey Hampton wins market praise for his "tremendous understanding of finance and capital markets." He cochairs the department, focusing on restructuring, Chapter 11 filings and out-of-court settlements. 

New entrant Adam Isenberg is singled out for his "complete mastery of the bankruptcy code" and is widely regarded as a "great source for complex Chapter 11 issues."

THE FIRM This well known team represents lenders in all aspects of bankruptcy proceedings, and has extensive experience in creditors' rights litigation. The group has recently acted on behalf of asset-based lenders, banks, federal receivers and mutual funds on various commercial lending transactions, workouts and reorganizations.  

Sources say: "They did an excellent job and kept costs under control to achieve a great result."

KEY INDIVIDUALS Paul Patterson chairs the firm's bankruptcy, workouts and creditors' rights practice. He frequently acts on behalf of lenders and a variety of financial institutions and is rated for his expertise in out-of-court restructuring.

Gretchen Santamour has an active practice acting for debtors, landlords and other clients on workouts and bankruptcy cases.

Michael Cordone has expertise in the UCC and is recognized for his focus on receivership cases. Sources enthuse: "He has a stupendous depth of knowledge, writes unbelievably well and has a great presentation style."