Carmen Lonstein is a partner in the Chicago and New York offices and chair of the Financial Restructuring, Creditors’ Rights & Bankruptcy Practice Group in North America. She regularly works with clients on corporate transactions involving restructuring, insolvency, bankruptcy and creditors' rights, as well as on related litigation in US courts. She is an interim board member of the Metropolitan Pier and Exposition Authority, board member of the Institute of Puerto Rican Arts & Culture and a member of Goodman Theatre Latino Civic Committee. Ms. Lonstein has been recognized in the Illinois Leading Bankruptcy and Workout Lawyers and Top 100 Women Business Lawyers from 2006-2010.

Practice Focus

Ms. Lonstein advises on a wide range of bankruptcy and corporate restructuring matters, including complex issues for distressed investors and private equity firms. In her broad Chapter 11 and workout practice, she has represented debtors, official statutory and ad hoc committees of creditors and equity holders, secured creditors, bondholders, landlords, asset purchasers, and trustees.

Ms. Lonstein helps clients evaluate strategies for potential and actual investments in distressed companies to maximize recoveries. She regularly works with potential buyers and stalking horse bidders in Chapter 11 asset sales, lenders in recovering collateral, debtor-in-possession matters and lease financing. She acts for clients in workout negotiations, objections to proposed reorganizations, and in the development of effective pre- and post-bankruptcy financing strategies for hotels, shopping centers, commercial office buildings and other operating companies.

Representative Legal Matters

• Acted as counsel to Official Committee of Unsecured Creditors in Delaware Chapter 11 case of MIG, Inc. representing the interests of creditors holding more than USD230 million in debt.
• Acted as counsel to Illinois auto/medical device manufacturer in connection with USD117 million debt restructuring of Autocam Corporation.
• Acted as counsel to a public company in connection with plan of dissolution providing for payment of all creditors and distributions of more than USD70 million to shareholders for Footstar Corporation.
• Acted as counsel to private equity funds in successful USD363 acquisition of a USD30 million intellectual property license and related litigation in the Southern District of California.
• Acted as counsel to equity committee of OCA, Inc. in international dental practice management company in Eastern District of Louisiana.
• Acted as counsel to former director of Conseco, Inc. in complex multijurisdictional commercial and bankruptcy litigation related to USD60 million in loans under the company’s Executive and Directors’ Stock Loan Program.
• Acted as counsel to equity committee of Kasper A.S.L. Ltd. in USD300 million apparel company Chapter 11 case in the Southern District of New York.
• Acted as counsel to equity committee in liquidating Chapter 11 case of Stone & Webster Inc. involving more than USD1 billion in debt in the District of Delaware and post-confirmation counsel to SWINC Consolidated Estate.
• Acted as local counsel to equity committee of Comdisco Inc. in USD8 billion Chapter 11 case in the Northern District of Illinois.
• Acted as local counsel to ad hoc committee of unsecured noteholders of Viskase Companies, Inc. in the Northern District of Illinois.

Professional Honors

• Recipient of the Melnik Award for Exceptional IWIRC Member 2004 
• Illinois Leading Lawyer 2006-2008; Ranked in Top 50 Leading Women Business Lawyers in Illinois 2007, 2008

Professional Associations and Memberships

• International Women's Insolvency & Reconstruction Confederation - Director at Large (& Founder of Chicago Chapter)
• The American Bankruptcy Institute - Member
• Turnaround Management Association - Member
• Hispanic Lawyers' Association of Illinois - Member
• International Bar Association - Vice-Chair, SIRC Subcommitte on Insolvency of Regulated Business

Corporate Social Responsibility

• Metropolitan Pier and Exposition Authority, Interim Board Member
• Institute of Puerto Rican Arts & Culture, Board Member
• Illinois Arts Council, Board Member
• Frank Lloyd Wright Foundation, Board Member

Admission

U.S. District Court, Southern District of New York~United States (2009)
New York~United States (2009)
U.S. Court of Appeals, Seventh Circuit~United States (1994)
U.S. District Court, Northern District of Illinois~United States (1994)
Illinois~United States (1994)
U.S. District Court, Middle District of Florida~United States (1991)
U.S. Court of Appeals, Eleventh Circuit~United States (1989)
Florida~United States (1988)
U.S. District Court, Southern District of Florida~United States (1988)

Education

New York University School of Law  (J.D.) (1987)
Hunter College - City University of New York  (B.A. Political Science and Communications magna cum laude) (1984)