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rachel albanese

Rachel Ehrlich Albanese


Co-Chair, US Restructuring practice

Rachel is a leader in the industry and an excellent adviser to her clients.
Chambers USA

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.

Areas of FocusRestructuringFinance
Bar admissionsNew YorkNew Jersey
CourtsSupreme Court of the United StatesUnited States District Court District of New JerseyUnited States District Court for the Southern District of New YorkUnited States District Court for the Eastern District of New YorkUnited States Court of Appeals for the Third CircuitUnited States Court of Appeals for the Second Circuit
She has the unique ability to explain the details in relation to novel areas of bankruptcy law, but also get to the punchline of the impact on us. She is very prescient in identifying risks and she is incredibly thoughtful. She is a powerhouse.
— Chambers USA


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
  • Corbel Capital in connection with certain investments
  • 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
  • LUMA Energy in connection with PREPA’s title III 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
  •, 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


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 "  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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Media Mentions

Prior Experience

After law school, where she served as Editor-in-Chief of Penn Law's Journal of International Economic Law, Rachel clerked for Hon. John W. Bissell, Chief Judge, United States District Court for the District of New Jersey.

Pro Bono

  • New York Advisory Board for Kids in Need of Defense (KIND)
  • Kids in Need of Defense
  • Unchained At Last
  • ABI Task Force on Veterans & Servicemembers Affairs
  • DLA North American Pro Bono Committee
  • NY Pro Bono Coordinator, DLA NY Pro Bono Committee

Memberships And Affiliations

  • 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