Add a bookmark to get started

rachel albanese

Rachel Ehrlich Albanese

Partner

Chair, US Restructuring practice

Rachel is known for her leadership in complex, high-profile matters.
Crain’s New York Business
About

Rachel Albanese is Chair of the U.S. Restructuring practice and a partner in the New York office. She has more than 20 years' experience representing secured and unsecured creditors, debtors, 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. 

In addition, Rachel has been involved in Puerto Rico’s current restructuring efforts since their earliest days, when she participated in dozens of meetings with U.S. Congress members and staff to develop the law that ultimately became PROMESA. Subsequently, she has been instrumental in many of the firm's PROMESA-related matters.

Rachel previously served as Co-Hiring Partner of the New York office.

Areas of FocusRestructuring
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

EXPERIENCE

Notable representations:

  • 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
  • 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). 

Education
  • J.D., University of Pennsylvania
    Journal of International Economic Law, Editor-in-Chief
  • B.A., University of Pennsylvania
    cum laude

Awards

  • 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 for Bankruptcy/Restructuring New York (Band 4), Chambers USA (2021-2022)
  • 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)
  • 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)
 

For more information, pursuant to New Jersey Lawyer Advertising guidance, please click here.

Bylines

Seminars

  • 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 (Dec 2019)
  • Panelist, LatAm Restructuring, Global Restructuring Review: 3rd Annual GRR Live New York (Oct 2019)
  • Panelist, Distressed Investing Breakfast: Technology's Impact on Distressed Lending & Investing, TMA New York City Chapter (Sept 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 (Sept 2014)
  • Panelist, Cross-Border Enforcement of Orders in Restructuring Cases, American Bankruptcy Institute Winter Leadership Conference (Dec 2013)

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

  • Unchained At Last
  • Kids in Need of Defense
  • Her Justice
  • ABI Task Force on Veterans & Servicemembers Affairs
  • DLA North American Pro Bono Committee and DLA NY Pro Bono Committee

Memberships And Affiliations

  • Contributor, Creditor Rights Coalition
  • Co-Chair for National Association of Women Lawyers' (NAWL) Practice Area Affinity Group, Women in Bankruptcy & Restructuring
  • Advisory Board Member, Women in Funds
  • Advisory Board Member, ABI NYC Bankruptcy Conference
  • Co-Chair, VALCON 2023
  • 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

Connect