Bankruptcy, Insolvency & Restructuring

Featured Publication:

Delaware Supreme Court Addresses Forum Selection Disputes

Kaan Ekiner and Mark Felger, writing in the Delaware Business Court Insider, discuss West v. Access Control Related Enterprises, which addressed several issues that arise in cases involving forum selection disputes.

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Cozen O'Connor represents key parties on all sides of bankruptcy and restructuring matters, including large corporate debtors, secured and unsecured creditors, creditors’ committees, and trustees. On the debtor side, we quickly assess the client’s options and devise a workable solution, whether the client is looking to refinance or restructure debt, or to sell substantially all of its assets through an out-of-court process or a Chapter 11 proceeding. On the creditor side, we implement strategies for creditors and creditors’ committees to maximize their recoveries against debtors in an expeditious manner. We also represent trustees in administering complex Chapter 7 cases, pursuing litigation against third parties, and selling business assets under a court-sanctioned auction process. Overall, our goal in every engagement is to restructure or liquidate in a way that preserves and maximizes value. 

Unlike much corporate work, bankruptcy often involves dozens or even hundreds of directly interested parties. To reach a mutually acceptable solution, counsel must accurately assess and coordinate a host of divergent interests. The lawyers at Cozen O’Connor have experience representing parties on all sides of bankruptcy matters, which means they are quick to anticipate the needs and priorities of divergent constituencies and devise a winning strategy for the client. They also serve as mediators in high-level disputes, so they are adept at focusing negotiations and navigating smoothly around potential roadblocks.

Bankruptcy is unique from other practice areas, because it combines transactional and litigation practice. Attorneys must design complicated contracts as readily as they make oral arguments. Cozen O’Connor’s bankruptcy attorneys’ breadth of experience in putting deals together and trying cases makes them ideally suited to operate at this legal crossroads. Our bankruptcy attorneys have extensive trial experience and move easily between the courtroom and the conference room.

Whether overseeing a Chapter 11 case on behalf of a creditors’ committee, declaring insolvency, executing an out-of-court restructuring, or lodging a cross-border complaint, bankruptcy-related matters move fast. Our practice is structured to facilitate prompt team formation, which allows us to get up and running without delay. The firm has local offices in 31 different cities in the United States, Canada, and the United Kingdom, and the important bankruptcy hubs of New York City, Wilmington, Houston, Richmond, Toronto, and Chicago. Accordingly, when a matter demands quick action, our attorneys are already on location. No matter how fast the pace, neither quality of work nor client communication is ever compromised.

SERVICES

  • Represent large private and publicly held businesses in Chapter 11 proceedings
  • Represent trustees in Chapter 7 liquidation and Chapter 11 reorganization cases
  • Represent foreign representatives in Chapter 15 proceedings
  • Represent creditors’ committees in Chapter 11 proceedings
  • Represent purchasers and sellers in Section 363 sales
  • Represent lenders, developers, and investors in real estate insolvencies and restructurings
  • Counsel creditors on reorganizations, foreclosures, and liquidation proceedings
  • Counsel clients on out-of-court restructurings and workouts
  • Advise clients who sell, buy, or invest in distressed and insolvent businesses
  • Advise boards of public and private companies in the midst of financial crises
  • Represent clients in all forms of litigation arising from bankruptcy and insolvency

CLIENTS

  • Corporate debtors
  • Secured and unsecured creditors
  • Creditors’ committees
  • Trustees
  • Foreign representatives
  • Purchasers of assets
  • Investors
  • Insurers
  • Developers
  • Landlords and equipment lessors

TEAM

Cozen O’Connor’s bankruptcy team is comprised of extraordinarily well-qualified attorneys. The group includes lawyers recognized by the American Board of Certification, Chambers & Partners, and Best Lawyers in America. Senior members of the team chair bar association bankruptcy sections, serve on boards of industry organizations and serve as adjunct law school faculty.

Our goal is to transcend the role of outside counsel and become a true business partner. That requires an ability to listen and understand client goals. It also requires a different approach to staffing than most large law firms. We believe that major matters are best handled by small teams of veteran attorneys. When a firm assigns twelve different lawyers to manage twelve different tasks, no one sees the whole picture and, worse yet, no one is accountable. At Cozen O’Connor, we staff in ways that both support the development of comprehensive solutions and ensure accountability and efficiency. 

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Experience

Publications

SCC Clarifies Corporate Attribution Rules in Reviewable Transactions

February 01, 2025

Steven Weisz and Dilina Lallani discuss the Supreme Court of Canada's decision clarifying the doctrine of corporate attribution in the ABI Journal.

The Supreme Court of Canada Clarifies the Doctrine of Corporate Attribution [Alert]

January 09, 2025

Dilina Lallani discusses the Supreme Court of Canada's decision clarifying the corporate attribution doctrine in the bankruptcy and insolvency context.

The Importance of Contractual Language in Analyzing Post-Closing Earnout Disputes [Delaware Business Court Insider]

January 08, 2025

Kaan Ekiner and Mark Felger, writing in the Delaware Business Court Insider, discuss a recent Delaware Superior Court decision that emphasizes the importance of the language in the parties’ contract in assessing the buyers’ efforts regarding post-closing earnouts.

Cozen O'Connor Doubles Down On New York Growth

December 02, 2024

Anna Sanders highlights in Law 360 Pulse how Cozen O'Connor's New York office has grown significantly since moving to 3 World Trade Center.

Supreme Court of Canada's Decision in Aquino v. Bondfield

December 02, 2024

Dilina Lallani discusses the Supreme Court of Canada’s decision in Aquino v. Bondfield Construction Co in the National Creditor/Debtor Review.

BC Supreme Court Interprets Settlement Agreement

November 14, 2024

Dilina Lallani discusses the British Columbia Supreme Court’s decision in Trevali Mining Corporation (Re) in the National Creditor/Debtor Review.

Restructuring Support Agreements

November 14, 2024

Steven Weisz & Dilina Lallani authored a practice note in LexisNexis discussing the role of restructuring support agreements in corporate restructuring.

Chancery Stays Action Pending Resolution of a Motion to Dismiss in a First-Filed Action to Which the Defendant Is Not a Party [Delaware Business Court Insider]

November 06, 2024

Kaan Ekiner and Mark Felger, writing in the Delaware Business Court Insider, discuss Chancellor Kathaleen St. J. McCormick’s decision to enter a stay due to potential overlapping legal and factual issues in Eastern Wholesale Fence v. Hudson.

Chancery Court Exercises Discretion in Setting Bond in a Case Involving Share Transfer Restriction [Delaware Business Court Insider]

October 31, 2024

Kaan Ekiner and Mark Felger, writing in the Delaware Business Court Insider, discuss a recent Delaware Court of Chancery decision which explains the process for setting the value, timing, and securitization of a bond in connection with a status quo order that restricted certain defendants from transferring shares of publicly traded stock.

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Events & Seminars

Upcoming Events

Pre-Bankruptcy Planning Issues

June 12, 2025 - Lexington, KY

Brian Shaw will participate in a panel discussion at the University of Kentucky's Judge Joe Lee Bankruptcy Institute that will explore pre-bankruptcy planning issues.

Past Events

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In The News

Cozen O’Connor Promotes 31 Attorneys to Member and Senior Principal

March 20, 2025

“It’s always a pleasure to recognize the hard work and dedication of our attorneys and government relations professionals,” said Executive Chairman and Chief Executive Officer Michael J. Heller. “This outstanding class of new members and senior principals will undoubtedly propel Cozen O’Connor’s ongoing success.”

Allen Guon Testifies in Support of the Illinois Receivership Act

February 19, 2025

Allen Guon testified in support of the Illinois Receivership Act before the Illinois Judiciary House Committee at their civil hearing.

Nine Cozen O’Connor Attorneys Named 2025 Illinois Super Lawyers, Rising Stars

January 21, 2025

Super Lawyers has named seven attorneys 2025 Illinois Super Lawyers and two attorneys 2025 Illinois Rising Stars.

Steven Weisz Featured in Bankruptcy & Restructuring Roundtable

November 15, 2024

Steven Weisz participated in CorporateLiveWire's Bankruptcy & Restructuring 2024 Virtual Round Table.

Cozen O’Connor Recognized in Best Law Firms – Canada in 8 Practice Areas for 2025

November 08, 2024

These rankings are based on research and data collected through the "Law Firm Survey," as well as the feedback of almost 2,200 clients, more than 4,600 lawyers, 206 interviews with practice group and firm leaders.

Cozen O’Connor Recognized as a “Best Law Firm” in 31 Practice Areas Nationwide, 54 Practice Areas Regionally

November 07, 2024

In 2024, Best Lawyers received more than 100,000 client references and observed a 65% increase in client participation in their survey.

Christina Sanfelippo Named to American Bankruptcy Institute’s “40 Under 40” List

October 21, 2024

Christina Sanfelippo, an associate in Cozen O’Connor’s Bankruptcy, Insolvency & Restructuring Practice, has been selected as an honoree of the American Bankruptcy Institute’s 2024 “40 Under 40” Emerging Leaders in Insolvency Practice award program.

Mark Felger Named as Recipient of the Turnaround Management Association’s Chapter Impact Award

September 18, 2024

Mark Felger, co-chair of Cozen O’Connor’s Bankruptcy, Insolvency & Restructuring practice, has been named the recipient of the Turnaround Management Association’s Chapter Impact Award.

Cozen O’Connor Adds Restructuring and Distressed M&A Lawyer Trevor Hoffmann to its New York City Office

September 16, 2024

Cozen O’Connor today announced veteran corporate restructuring professional Trevor Hoffmann has joined its Bankruptcy, Insolvency & Restructuring Practice in New York City.

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Contacts

John T. Carroll, III

Co-Chair, Bankruptcy, Insolvency & Restructuring

jcarroll@cozen.com

(302) 295-2028

Mark E. Felger

Co-Chair, Bankruptcy, Insolvency & Restructuring

mfelger@cozen.com

(215) 605-8889

People

Awards

Cozen O’Connor Promotes 31 Attorneys to Member and Senior Principal

March 20, 2025

“It’s always a pleasure to recognize the hard work and dedication of our attorneys and government relations professionals,” said Executive Chairman and Chief Executive Officer Michael J. Heller. “This outstanding class of new members and senior principals will undoubtedly propel Cozen O’Connor’s ongoing success.”

Cozen O’Connor Recognized in Best Law Firms – Canada in 8 Practice Areas for 2025

November 08, 2024

These rankings are based on research and data collected through the "Law Firm Survey," as well as the feedback of almost 2,200 clients, more than 4,600 lawyers, 206 interviews with practice group and firm leaders.

Cozen O’Connor Recognized as a “Best Law Firm” in 31 Practice Areas Nationwide, 54 Practice Areas Regionally

November 07, 2024

In 2024, Best Lawyers received more than 100,000 client references and observed a 65% increase in client participation in their survey.

31 Cozen O'Connor Attorneys Named Pennsylvania Super Lawyers and Rising Stars

June 11, 2024

Each candidate is evaluated on 12 indicators of peer recognition and professional achievement. Only 5 percent of attorneys are named Super Lawyers; only 2.5 percent of attorneys are listed as Rising Stars.

Nearly 100 Cozen O’Connor Lawyers, 27 Practices Earn Top Recognition in Chambers USA 2024 Guide

June 10, 2024

Chambers USA rankings are based on an “assessment of a firm’s work and opinions from external market sources, with an emphasis on client feedback.” In order to be ranked in the guide, lawyers and firms must demonstrate “sustained excellence.”

The American Bankruptcy Institute Selects Cozen O’Connor Transaction as Asset Sale of the Year

April 20, 2024

Cozen O’Connor is proud to announce that the firm’s Bankruptcy, Insolvency & Restructuring Group is the recipient of the American Bankruptcy Institute’s Asset Sale of the Year award.

Ten Cozen O’Connor Attorneys Named Best Lawyers and Ones to Watch in Canada

August 24, 2023

Ten Cozen O’Connor lawyers from the firm’s Toronto and Vancouver offices were selected for inclusion in the 2024 edition of The Best Lawyers and Best Lawyers: Ones to Watch in Canada

Best Lawyers Honors More Than 200 Cozen O'Connor Attorneys to its Best Lawyers in America 2024 Edition

August 17, 2023

Best Lawyers selected 232 Cozen O’Connor lawyers from 24 of the firm’s U.S. offices for inclusion in the 2024 edition of The Best Lawyers in America.

Eighty-eight Cozen O’Connor Lawyers, 23 Practices Earn Top Recognition in Chambers USA 2023 Guide

June 05, 2023

Of the 88 lawyers ranked, 17 lawyers have been recognized nationally, and eighteen were recognized in Band 1. Eight of the firm's practice areas have been recognized nationally, and nine were ranked Band 1.

Six Cozen O’Connor Attorneys Recognized in 2023 Chambers Global Rankings

February 22, 2023

Chambers Global has recognized six Cozen O’Connor attorneys: Susan Eisenberg (Miami – Labor & Employment), Geoffrey Ferrer (New York – Transportation & Trade), Shane Hardy (Toronto – Intellectual Property), Michael Osborne (Toronto – Antitrust & Competition), Joseph Tilson (Chicago – Labor & Employment), and Steven Weisz (Toronto – Bankruptcy & Restructuring) as worldwide leaders in their respective practices.

Cozen O’Connor Recognized as a “Best Law Firm” in 30 Practice Areas Nationwide, 115 Practice Areas Regionally

November 30, 2022

U.S. News & World Report and Best Lawyers recognized Cozen O’Connor as a “Best Law Firm” in 30 practice areas nationwide and 115 practice areas regionally.

U.S. Tobacco Deal Wins M&A Advisor Award

November 16, 2022

The team's representation of U.S. Tobacco successfully ended a 17-year class action battle for the largest tobacco cooperative in the United States.

Cozen O’Connor’s Corporate Practice and Multiple Attorneys Recognized in IFLR1000 2022 Edition

October 24, 2022

Cozen O’Connor is pleased to announce that the firm’s Corporate Practice and multiple attorneys in the firm’s Corporate and Bankruptcy, Insolvency & Restructuring practices have been recognized by IFLR1000 in its 2022 edition.

Two Cozen O’Connor Attorneys Recognized in 2023 Chambers Canada Rankings

October 14, 2022

Chambers Canada has recognized two Cozen O’Connor attorneys, Shane Hardy and Steven J. Weisz, as leaders in their respective practices.

Chambers Ranks 86 Cozen O’Connor Lawyers, 22 Practice Areas in Chambers USA 2022 Guide

June 02, 2022

Chambers USA, the leading annual guide to the top lawyers and law firms in the United States, has ranked 86 Cozen O’Connor lawyers as leaders in their respective fields in the guide’s 2022 edition.

49 Cozen O'Connor Attorneys Named Pennsylvania Super Lawyers and Rising Stars

June 01, 2022

Super Lawyers has selected 49 Cozen O'Connor attorneys to the 2022 Pennsylvania Super Lawyers and Rising Stars lists.

Leading Lawyers Network Recognizes 23 Cozen O’Connor Lawyers as Top Illinois Practitioners

March 02, 2022

The Leading Lawyers Network has named 22 Cozen O’Connor lawyers to its annual list of Illinois’ top practitioners and named one other as an Emerging Lawyer in its 2022 survey results.

Lawdragon names Cozen O’Connor’s Brian Shaw and Thomas Horan Among Top 500 Leading U.S. Bankruptcy and Restructuring Lawyers

January 31, 2022

Lawdragon has named Brian Shaw and Thomas Horan, members of Cozen O’Connor’s Bankruptcy, Insolvency & Restructuring practice, to its 2022 list of the Top 500 Leading U.S. Bankruptcy and Restructuring Lawyers.

Cozen O’Connor’s Corporate Practice and Multiple Attorneys Recognized by IFLR1000

September 16, 2021

Cozen O’Connor is pleased to announce that the firm’s Corporate Practice and multiple attorneys in the firm’s Corporate and Bankruptcy, Insolvency & Restructuring practices have been recognized by IFLR1000.

More Than 205 Cozen O’Connor Attorneys Named Best Lawyers and Ones to Watch By The Best Lawyers In America

August 19, 2021

Best Lawyers selected 210 Cozen O’Connor lawyers from 23 of the firm’s nationwide offices for inclusion in the 2022 edition of The Best Lawyers in America.

47 Cozen O'Connor Attorneys Named Pennsylvania Super Lawyers and Rising Stars

May 28, 2021

Super Lawyers has selected 47 Cozen O'Connor attorneys to the 2021 Pennsylvania Super Lawyers and Rising Stars lists.

Mark Felger Named a 2021 Delaware Super Lawyer

May 26, 2021

Cozen O’Connor is pleased to announce that Mark Felger, co-chair of the firm’s Bankruptcy, Insolvency & Restructuring Group, has been named to Super Lawyers 2021 list of top practitioners in Delaware.

82 Cozen O’Connor Lawyers, 19 Practices Earn Top Recognition in Chambers USA 2021 Guide

May 26, 2021

Chambers USA, the leading annual guide to the top lawyers and law firms in the United States, has ranked 82 Cozen O’Connor lawyers as leaders in their respective fields in the guide’s 2021 edition; of those, 15 lawyers have been recognized nationally.

Eleven Cozen O’Connor Attorneys Named 2021 Illinois Super Lawyers

January 29, 2021

Super Lawyers has named eleven attorneys at Cozen O’Connor to its 2021 lists of top practitioners in Illinois.

Leading Lawyers Network Recognizes 26 Cozen O’Connor Lawyers as Top Illinois Practitioners

January 26, 2021

The Leading Lawyers Network has named 24 Cozen O’Connor lawyers to its annual list of Illinois’ top practitioners and named two others as Emerging Lawyers in its 2021 survey results.

200 Cozen O’Connor Attorneys Named Best Lawyers and Ones to Watch By The Best Lawyers In America

August 20, 2020

Best Lawyers selected 200 Cozen O’Connor lawyers from 23 of the firm’s nationwide offices for inclusion in the 2021 edition of The Best Lawyers in America© (Copyright 2020 by Woodward/White, Inc., of Aiken, SC).

Cozen O’Connor Recognized As a Best Law Firm in 24 Practice Areas Nationwide, 106 Practice Areas Regionally

November 05, 2019

The U.S. News – Best Lawyers “Best Law Firms” rankings are based on a rigorous evaluation process that includes the collection of client and lawyer evaluations and peer review from leading attorneys in their field.

17 Cozen O’Connor Attorneys Recognized as New York Super Lawyers and Rising Stars

September 27, 2019

Super Lawyers has named 17 Cozen O'Connor attorneys to its 2019 New York Super Lawyers and Rising Stars list.

138 Cozen O’Connor Attorneys Named to the Best Lawyers in America

August 28, 2019

Best Lawyers selected 138 Cozen O’Connor lawyers from 21 of the firm’s national offices for inclusion in the 2020 edition of The Best Lawyers in America.

57 Cozen O’Connor Lawyers, 16 Practices Earn Top Recognition in Chambers USA 2019 Guide

April 25, 2019

Chambers USA, the leading annual guide to the top lawyers and law firms in the USA, has ranked 57 Cozen O’Connor lawyers as leaders in their respective fields in the Guide’s 2019 edition.

125 Cozen O’Connor Attorneys Named to the Best Lawyers in America

August 22, 2018

One hundred twenty-five Cozen O’Connor lawyers from 20 of the firm’s national offices have been selected for inclusion in the 2018 edition of The Best Lawyers in America.

Related Practice Areas

Upcoming Event:

Pre-Bankruptcy Planning Issues

Lexington, KY 06/12/2025

Brian Shaw will participate in a panel discussion at the University of Kentucky's Judge Joe Lee Bankruptcy Institute that will explore pre-bankruptcy planning issues.

Event Details

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