Paul Weiss has landed one of the most respected bankruptcy attorneys in the legal industry.
James Sprayregen, the restructuring lawyer widely credited with building Kirkland & Ellis into a dominant force in corporate bankruptcy, is joining Paul, Weiss, Rifkind, Wharton & Garrison as co-head of its restructuring and debt capital solutions practice.
The move marks another significant lateral hire for Paul Weiss. Moreover, it strengthens the firm’s position in one of the most lucrative areas of modern legal practice.
For legal recruiters, law students, and industry observers, the announcement underscores the continuing battle among top law firms to attract elite legal talent.
Key Takeaways
- James Sprayregen has joined Paul Weiss as co-head of its restructuring and debt capital solutions practice.
- Sprayregen founded Kirkland & Ellis’ restructuring group in 1990 and helped turn it into a bankruptcy powerhouse.
- The veteran bankruptcy attorney advised clients in several landmark Chapter 11 restructurings.
- Paul Weiss continues to expand its legal talent roster under chairman Scott Barshay.
- The move highlights intense competition among major law firms for elite restructuring lawyers.
Why James Sprayregen Is One of the Most Influential Bankruptcy Attorneys in America
Building Kirkland’s Restructuring Powerhouse
Few lawyers have shaped modern bankruptcy law as significantly as James Sprayregen.
In 1990, he founded Kirkland & Ellis’ restructuring practice. Over the next three decades, he helped transform the group into one of the most influential bankruptcy and restructuring teams in the United States.
As a result, Kirkland became a leading adviser in some of the nation’s largest Chapter 11 cases.
The firm’s growth mirrored the increasing complexity of corporate bankruptcies and distressed debt transactions. Consequently, Sprayregen became one of the most recognized names in restructuring law.
Notable Bankruptcy and Chapter 11 Matters
Throughout his career, Sprayregen advised companies facing significant financial challenges.
His client roster included major restructurings involving Caesars Entertainment, Toys “R” Us, and United Airlines. Those matters helped cement his reputation as a go-to bankruptcy attorney for complex corporate restructurings.
Furthermore, his work influenced how many law firms approach Chapter 11 strategy, creditor negotiations, and debt restructuring.
Career Moves Beyond Kirkland & Ellis
Sprayregen’s legal career has included several notable transitions.
In 2006, he left Kirkland to join Goldman Sachs. However, he later returned to private practice and continued leading major restructuring matters.
More recently, he retired from Kirkland in 2024 and joined Hilco Global as vice chairman of global strategy and growth.
At Hilco, he focused on strategic initiatives and business development. Now, he returns to Big Law with a leadership role at Paul Weiss.
Why Paul Weiss Recruited James Sprayregen
Strategic Growth Under Chairman Scott Barshay
The addition of Sprayregen comes during an important period for Paul Weiss.
Earlier this year, Scott Barshay assumed the role of chairman. Since then, the firm has aggressively expanded several key practice groups through strategic hiring.
Adding a lawyer of Sprayregen’s stature immediately enhances the firm’s restructuring capabilities. Additionally, it reinforces Paul Weiss’ reputation as a destination for high-profile legal talent.
Barshay praised Sprayregen’s arrival and highlighted his extensive experience advising clients through complex financial restructurings.
Expanding a High-Demand Practice Area
Bankruptcy and restructuring remain critical practice areas for large law firms.
Corporate bankruptcies often involve years of litigation, negotiations, financing arrangements, and court proceedings. Therefore, firms with strong restructuring teams frequently generate substantial revenue during periods of economic uncertainty.
Many companies now pursue liability management transactions and debt restructurings before seeking Chapter 11 protection. Nevertheless, experienced restructuring lawyers remain essential throughout the process.
As a result, major law firms continue investing heavily in bankruptcy and restructuring talent.
Leadership Transition Within Paul Weiss
The firm’s announcement also included leadership changes within its restructuring group.
Paul Basta, a longtime partner and co-head of the restructuring practice, plans to step down from his leadership position later this year.
According to the firm, the transition is part of a broader succession strategy.
Meanwhile, Sprayregen will work alongside restructuring leaders Brian Hermann and Andrew Rosenberg as the practice enters its next chapter.
The leadership team is expected to guide the group through continued growth in the restructuring and debt capital solutions market.
What This Means for the Business of Law
Competition for Elite Legal Talent Intensifies
The legal industry’s talent wars show no signs of slowing.
Today, top law firms increasingly use lateral hiring to strengthen practice groups and expand market share. Consequently, high-profile partner moves often attract attention across the profession.
Experienced lawyers with strong client relationships remain among the most valuable assets in Big Law.
For recruiters, the move highlights the premium firms place on attorneys with proven track records in highly specialized practice areas.
Restructuring Lawyers Remain in High Demand
Demand for restructuring lawyers remains strong despite fluctuations in bankruptcy filings.
Many companies seek legal guidance before financial distress reaches a crisis point. Therefore, restructuring attorneys often play a key role long before a bankruptcy petition is filed.
Moreover, evolving debt markets and increasingly sophisticated financing structures continue creating demand for experienced legal counsel.
This trend has encouraged law firms to expand restructuring teams and compete aggressively for top talent.
James Sprayregen’s Move Signals Continued Growth for Paul Weiss
Sprayregen described Paul Weiss as a “true restructuring powerhouse,” signaling confidence in the firm’s direction and leadership.
His arrival brings decades of experience, deep industry relationships, and a nationally recognized reputation to the firm.
Furthermore, the hire strengthens Paul Weiss’ ability to compete for high-stakes bankruptcy, restructuring, and distressed debt matters.
For law students, legal recruiters, and industry professionals, the move offers another example of how strategic lateral hiring continues reshaping the business of law.
As competition among major firms intensifies, marquee hires like James Sprayregen are likely to remain a defining feature of the legal industry’s evolving landscape.
Frequently Asked Questions
Who is James Sprayregen?
James Sprayregen is a prominent bankruptcy attorney and restructuring lawyer. He founded Kirkland & Ellis’ restructuring practice in 1990 and became one of the most influential figures in corporate bankruptcy law.
What role will James Sprayregen have at Paul Weiss?
Sprayregen will serve as co-head of Paul Weiss’ restructuring and debt capital solutions practice.
Why is James Sprayregen’s move important?
His move strengthens Paul Weiss’ bankruptcy and restructuring capabilities and represents one of the most significant Big Law lateral hires of the year.
What is Paul Weiss known for?
Paul Weiss is a leading U.S. law firm known for its litigation, corporate, private equity, finance, restructuring, and regulatory practices.
Why are restructuring lawyers in demand?
Companies increasingly seek advice on debt management, financial restructuring, and bankruptcy alternatives. As a result, experienced restructuring lawyers remain highly sought after by law firms and corporate clients.
What is a Chapter 11 bankruptcy?
Chapter 11 is a section of the U.S. Bankruptcy Code that allows businesses to reorganize their debts and operations while continuing to operate under court supervision.
Looking for bankruptcy, restructuring, or Big Law opportunities? Explore thousands of active legal jobs and advance your legal career with
LawCrossing today.
See Related Articles:
The post
Bankruptcy Expert Sprayregen Makes Paul Weiss Move first appeared on
JDJournal Blog.
