Rachel Ehrlich Albanese
SociaCo-Chair, US Restructuring practice
Rachel Albanese is Co-Chair of the U.S. Restructuring practice and a partner in the New York office. She has more than 20 years' experience representing debtors, secured and unsecured creditors, equity holders, purchasers of distressed assets, and other parties in interest in a wide range of restructuring matters, including cases under chapter 11 of the US Bankruptcy Code, out-of-court workouts, and cross-border insolvency proceedings.
Rachel is a nationally recognized restructuring lawyer and advisor. She is individually ranked in Chambers and the recipient of numerous industry awards and recognitions, including National Law Journal’s Crisis Trailblazer, Crain’s New York Notable Women in Law, Debtwire’s Women to Watch, and M&A Advisor Top Woman Dealmaker, among others.
Rachel currently serves as a member of the firm’s Policy Committee. She previously served as Co-Hiring Partner of the New York office.
EXPERIENCE
Notable Representations:
- NextPoint Financial Inc. and its subsidiaries Liberty Tax and Community Tax as debtors in CCAA proceedings and foreign representative in chapter 15 cases
- LUMA Energy in connection with PREPA’s title III case
- Nations Capital, LLC and Ritchie Bros. as agent in the largest liquidation of rolling stock in US history in connection with the Yellow Corp. bankruptcy, among others
- Teal Jones and its subsidiaries as debtors in CCAA proceedings and foreign representative in Chapter 15 cases
- Corbel Capital in connection with certain investments
- A charitable organization in clawback litigation filed by FTX
- Founders/DIP lenders of SmileDirectClub in its bankruptcy proceedings
- Meritz Alternative Investment Management, one of the largest creditors in the PWM chapter 11 case
- A significant LatAm financial services company in restructuring its operations and balance sheet
- Transform Holdco in its dispute with the Mall of America arising out of the Sears chapter 11 case
- Valeritas Holdings, Inc. in its chapter 11 case, the first bankruptcy case in the country to attribute COVID-19 as one of the factors leading to the filing
- Committee of Independent Directors of Covia Holdings Corp. and special counsel to Covia in Covia’s chapter 11 cases
- Mirae Asset Wealth Management and Mirae Asset Securities & Investments as creditor in several bankruptcy cases
- The administrative agent in the chapter 11 case of MD America
- Spyglass Media Group, LLC (f/k/a Lantern Entertainment LLC) in The Weinstein Company chapter 11 case
- Large creditors in the chapter 11 cases of LATAM Airlines, Intelsat, and Sungard A.S.
- Advantage Capital, in connection with UCC sale of Farmhouse Culture, Inc.
- A leading Mexican EPC company in its out of court restructuring
- Authentic Brands Group as stalking horse purchaser in In re Nine West Holdings, Inc.
- Wheatsheaf Group US, Inc. in the Washington state receivership of TriStrata Group
- Several foreign banks in the Fairfield Sentry chapter 15 litigation
- Amain.com, Inc., as buyer of certain assets in the Advanced Sports Enterprise chapter 11 case
- Ad hoc groups of noteholders in some of the largest chapter 11 cases filed in the U.S.
- Walmart as creditor in connection with certain energy investments
- The official committees of unsecured creditors in In re Chassix Holdings, Inc. and In re SandRidge Energy, Inc.
- Houlihan Lokey in In re Relativity Media, LLC
- UMB Bank, N.A. in In re Residential Capital, LLC
- The debtors in In re Metro Affiliates, Inc., In re Recycled Paper Greetings, Inc., and In re Loral Space & Communications Ltd.
- The Joint Official Liquidators of Trikona Advisers Limited and Security Capital Ltd. in US proceedings
Certain of the above matters were handled by Rachel prior to her joining DLA Piper LLP (US).
- J.D., University of Pennsylvania
Journal of International Economic Law, Editor-in-Chief - B.A., University of Pennsylvania
cum laude
Awards
Chambers USA
- Band 4, New York Bankruptcy/Restructuring(2021-2024)
The Legal 500 United States
- Recommended, Restructuring (including Bankruptcy): Corporate (2024)
Additional Recognitions
- Named to Debtwire's Women to Watch (2024)
- Named as a 2023 Top Woman Dealmaker, Global M&A Network (2023)
- Recognized as 2022 Notable Woman in Law, Crain's New York Business (2022)
- Selected as Winning Deal Team – 2021 Turnaround/Transaction of the Year – Small Company, Turnaround Management Association
- Chosen as Honoree, "Evening on the Lake," Citizens Committee for New York City (2021)
- Selected as Winning Deal Team – 2021 Cross-border Turnaround Deal of the Year, Global M&A Network
- Recognized as DLA Piper’s "North American Pro Bono Awards" recipient (2020)
- Recipient of the 14th Annual Women in Achievement Award from The New York Institute of Credit (NYIC) Women’s Division
- Recognized as National Law Journal's 2020 Crisis Leadership Trailblazers
- Recognized as Lawdragon's 500 Leading U.S. Bankruptcy and Restructuring Lawyers (2020, 2022-2024)
- Appointed to Bankruptcy Editorial Advisory Board, Law360 (2015 and 2016 terms)
- Selected as Winning Deal Team – Professional Services Sector, 2011 Turnaround Awards, The M&A Advisor
- Received 2010 BNA Insights Award for "Chaper11.com: New Life for the Failed Retailer," published in the Aug. 19, 2010 issue of BNA's Bankruptcy Law Reporter (one of five articles selected out of over 1,000 entries)
- Noted in The Wall Street Journal, New York Law Journal, National Law Journal and on NY1 for pro bono efforts
- Recognized as Empire State Counsel, New York State Bar Association (pro bono)
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Pro Bono
- Kids in Need of Defense (KIND), NY Advisory Board Member
- Unchained At Last
- ABI Task Force on Veterans & Servicemembers Affairs
- DLA North American Pro Bono Committee
- DLA NY Pro Bono Committee, NY Pro Bono Partner
Publications
- Contributor, "RX Pros Weigh In. Part 1", PETITION, December 18, 2024
- Co-author, "Noncompete Agreements Survive the FTC and a Noncompete Provision Survives Rejection," New York Law Journal, September 20, 2024
- Co-author, "Is There a Common-Law Alternative to Chapter 15?" ABI Journal, August 2024
- Co-author, "Environmental Liabilities and Discharge Under a § 363 Sale," ABI Journal, June 2024
- Featured, "Special Feature: In conversation with Women in Credit," Creditor Rights Coalition, March 2024
- Contributor, "Texas Bankruptcy Court Sticks to Judge Practice Others Banished," Bloomberg Law, March 13, 2024
- Contributor, "BK Pros Weigh in. Part 1," PETITION, January 3, 2024
- Contributor, "Special Feature: In conversation with Dominique Mielle, author of Damsel in Distressed," Creditor Rights Coalition, March 28, 2023
- Contributor, "BK Pros Weigh In," PETITION, December 21, 2022
- Co-author, "What should customers expect from the FTX bankruptcy? Lessons learned from MF Global and similar cases," DLA Piper, November 16, 2022
- Co-author, "Expert Q&A on the Gender Gap in Bankruptcy & Restructuring Practice," Thomson Reuters Practical Law, November 14, 2022
- Co-author, "DeFi participants should prepare to confront the unknown as bankruptcies loom," DLA Piper, June 23, 2022
- Co-author, "Treatment of Healthcare Company Provider Agreements Is Key in Chapter 11 Bankruptcy Sales," Turnaround Management Association, September 1, 2021
- Quoted in, "Private equity sponsors expected to help borrowers ride out deadly Delta variant," Refinitiv, August 9, 2021
- Co-author, "Three Recent Developments in Third Circuit Bankruptcy Law," Law.com, February 04, 2020
- "US: Chapter 11," America's Restructuring Review 2020, Law Business Research: December 2019 (with Oksana Koltko Rosaluk)
- Co-author, "Overview of Plan Support Agreements," New York Law Journal, June 8, 2018
- Co-author, "US: Chapter 11," Global Restructuring Review, November 20, 2017
- Co-author, "Healthcare restructurings: four key issues to consider before a chapter 11 filing," JD Supra, November 10, 2017
- Co-author, "Recent SDNY Decision Protects, Clarifies Investment Banker Compensation in Bankruptcy," Bloomberg Law, January 26, 2017
- Co-author, Practical Alternatives to a Bankruptcy Filing, Journal of Corp. Renewal, January/February 2016
- Co-author, Restructuring and Insolvency in the United States: Overview, Practical Law, November 2015
- Author, Bloomberg Law: Bankruptcy Treatise, December 2014
Seminars
- Speaker, "Leading Bankruptcy Attorney, Rachel Ehrlich Albanese, On Success Village's Bankruptcy Filing," The Lisa Wexler Show, September 2024
- Moderator, "From Reactivity to Opportunistic Proactivity: Elevating Credibility and Influence in the Boardroom Through Strategic Planning and Creative Problem Solving," General Counsel Institute, November 7, 2024
- Moderator, "Ethics Roundtable: Current Issues in Bankruptcy Practice," ABI New York City Bankruptcy Conference, May 2024
- Speaker, "ABI's "Party in Interest" Podcast Features DLA Piper's Rachel Albanese - Ep. 263," ABI's Party in Interest Podcast, January 2024
- Panelist, "P.R.'s Restructuring Through PROMESA: Gateway to the Market, and Related Case Law," ABI Caribbean Insolvency Symposium, January 2024
- Conference Co-Chair, VALCON 2023-2025
- Moderator, "Understanding Trends in Life Sciences: Navigating 2023 Challenges," DLA Piper Event with A&M, May 2023
- Moderator, Keynote: "Meme Stock and Fiduciary Duty Implications," ABI New York City Bankruptcy Conference, May 2023
- Co-chair of conference and panelist, "Bankruptcy & Reorganizations 2023: Current Developments," Practising Law Institute, 2023-2024
- Panelist, "Women in Credit: Roundtable," Creditor Rights Coalition, February 2023
- Co-chair of conference and panelist, "Bankruptcy & Reorganizations 2022: Current Developments," Practising Law Institute, May 2022
- Panelist, "VALCON 2022: The Impact of Easy Money on Valuations During the Pandemic," American Bankruptcy Institute, May 2022
- Panelist, "PWC presents: 2022 Restructuring Outlook," American Bankruptcy Institute, February 2022
- Panelist, "Taking the Keys? Navigating Restructurings," Refinitiv LPC's Middle Market, Direct Lending & Large Corporate Loans Virtual Conference, April 2021
- Presenter, "What Is Bankruptcy Mothballing?" Talks On Law, March 2020
- Presenter, "Termination for Bankruptcy Myth," Talks On Law, March 2020
- Panelist, Yes, You Need Them: The Value of Financial Advisors and Investment Bankers in § 363 Sales, American Bankruptcy Institute Winter Leadership Conference, December 2019
- Panelist, LatAm Restructuring, Global Restructuring Review: 3rd Annual GRR Live New York, October 2019
- Panelist, Distressed Investing Breakfast: Technology's Impact on Distressed Lending & Investing, TMA New York City Chapter, September 2018
- Moderator, Restructuring: What's New?, Global M&A Network's Restructuring + Distressed Investing Forum, July 2018
- Panelist, Looking at International Insolvency/Restructurings Through the Bankruptcy Code and Beyond, American Bankruptcy Institute, September 2014
- Panelist, Cross-Border Enforcement of Orders in Restructuring Cases, American Bankruptcy Institute Winter Leadership Conference, December 2013
Media Mentions
- "Del. Judge Recognizes Liberty Tax Bankruptcy Sale," Law360, December 11, 2023
- "Liberty Tax Owner Pushes For Recognition Of Canadian Sale," Law360, December 6, 2023
- DLA Piper ranked #7 in the "GRR 100 2022," Global Restructuring Review
- "3D Parts Printer Garners Wide Support For Ch. 11 Wind Down," Law360, February 22, 2023
- "Bankrupt Parts Printer Aims For Post-Sale Wind-Down In Del.," Law360, December 21, 2022
- "Organization Profile - DLA Piper," Global Restructuring Review, December 19, 2022
- "Fizzled De-SPAC Sends Cloud Manufacturing Co. Into Ch. 11," Law360, November 8, 2022
- "Fast Radius to Sell in Ch. 11," The Deal, November 8, 2022
- "Ex-Weinstein Chair Says Hearsay Used In Ch. 11 'Scream' Row," Law360, August 5, 2021
- "Spyglass Fires Back At Weinstein Brother's Demand For Pay," Law360, July 23, 2021
- "'Silver Linings' team loses appeal over pay following Weinstein bankruptcy," Reuters, May 21, 2021
- "Weinstein Co. Buyer Owes Pre-Ch. 11 Profits, 3rd Circ. Told," Law360, January 13, 2021
- "Named to the National Law Journal's 2020 list of Crisis Leadership Trailblazers," Citybizlist, September 3, 2020
- "FTS Ch. 11 Plan OK'd After Fracking Sand Supplier Deal," Law360, November 4, 2020
- "DLA Piper Advises Outsourced Customer Care Provider IBEX In US$90.5 Million IPO," Citybizlist, August 14, 2020
- "Mall Of America Takes Sears Lease Row To 2nd Circ.," Law360, June 10, 2020
- "Drug Firm Hurt By Coronavirus Gets Ch. 11 Plan OK'd," Law360, June 4, 2020
- "Trends in Restructuring and Debt Markets," DLA Piper, April 9, 2020
- "Weinstein Film Rights Buyer Spared Paying Pre-Ch. 11 Profits," Law360, March 20, 2020
- "Busted Companies Blame Virus for Pushing Them Into Bankruptcy," Bloomberg News, March 13, 2020
- "Coronavirus-Disrupted Drug Firm's $12M Ch. 11 Loan Gets OK," Law360, March 12, 2020
- "Valeritas Receives Final DIP Approval After Debtors, DIP Lender Resolve Objection Lodged by UCC," Americas Middle Market, March 12, 2020
- "Atty 'Tiger Team' helps win bankruptcy fix for disabled vets," Law360, October 6, 2019
- "Petition's 2018 Deal of the Year," Petition, December 19, 2018
- "DLA Piper receives pro bono award from National Juvenile Defender Center," May 18, 2018
- "Notice of Appearance: Rachel Albanese, Partner at DLA Piper," Petition, April 6, 2018
- "Busted Narrative: Fast Fashion Falters," Petition, March 28, 2018
- "Movers," The National Law Journal, November 28, 2016
- "On the Move," New York Law Journal, November 16, 2016
- "Career Tracker: Lawyers on the move," Reuters, October 28, 2016
- "Rachel Albanese Joins DLA Piper's NY Restructuring Practice," Troubled Company Reporter, October 27, 2016
- "Partner Moves-Rachel Albanese Joins DLA Piper's NY Restructuring Practice," Legal Monitor, October 24, 2016
- "People on the Move," New York Business Journal, October 24, 2016
- "DLA Piper recruits partner from Akin Gump in New York," Global Restructuring Review, October 24, 2016
- "Movers & Shakers: MetLife boosts board, bounces beagle amid slimdown," The Deal Pipeline, October 24, 2016
- "DLA Piper Adds Restructuring Partner From Akin Gump," Law360, October 21, 2016
- "Rachel Albanese Joins DLA Piper in New York," Citybizlist, October 21, 2016
Prior Experience
Memberships And Affiliations
- Co-chair, Business Transactions Subcommittee of the ABA Business Bankruptcy Committee
- Member, ABA Business Bankruptcy Committee
- Co-Chair for National Association of Women Lawyers' (NAWL) Practice Area Affinity Group, Women in Bankruptcy & Restructuring
- Contributor, Creditor Rights Coalition
- Advisory Board Member, Women in Funds
- Advisory Board Member, ABI NYC Bankruptcy Conference
- Co-Chair, VALCON
- Co-Chair, PLI Bankruptcy & Reorganizations: Current Developments
- International Women's Insolvency and Restructuring Confederation
- American Bankruptcy Institute
- Penn Arts & Sciences Professional Women's Alliance
- Turnaround Management Association