“Adam is extremely commercial and able to develop creative solutions, [and] is incredibly sophisticated in his knowledge of the relevant law and how best position the matter to the client’s advantage.”
Chambers USA 2022


Adam Paul is a partner in Mayer Brown's Chicago office in the firm’s Global Restructuring practice. He has extensive experience representing both debtor and creditor clients in complex US and non-US reorganizations, both in and out of court, and advises boards of directors and senior officers regarding fiduciary duties and restructuring strategies. In addition to his general restructuring work, Adam has significant experience in bankruptcies involving mass tort and legacy liabilities.

The Legal 500 described Adam as "extraordinarily creative and a fierce litigator," and, in 2021, Adam was shortlisted by IFLR for Lawyer of the Year – Restructuring and Insolvency. Adam was recognized as a “Highly Regarded” lawyer by IFLR1000 in 2023, and has been included in Chambers USA, America's Leading Lawyers for Business and The Legal 500, which also described Adam as "super smart and very effective" with "great intelligence and capability," and as a lawyer that "applies experience in a practical manner." Adam’s work frequently wins deal of the year awards at leading restructuring awards programs, such as those organized by the Turnaround Management Association, IFLR, GRR and The American Lawyer.


Notable Engagements

As part of his global restructuring practice, Adam has represented companies, creditors, and investors in some of the largest and most complex restructuring matters throughout the world, including:

Debtor/Company Representations

  • GWG Holdings, Inc. and certain of its subsidiaries, a publicly-traded life settlements and alternative investments company with approximately $2.1 billion in debt at the time of filing, as lead debtors’ counsel, in connection with their Chapter 11 cases.
  • School Specialty, Inc., a leading provider of educational products and services to the Pre-K- 12th grade market in the U.S. and Canada, in its successful out-of-court restructuring of more than $300 million of debt and consensual sale of substantially all of its assets to an entity formed by TCW Asset Management Company, LLC, Cerberus Capital Management, and Lantern Capital Partners. 
  • The board of directors of Macy’s, Inc., a publicly traded retailer with sales of $24.6 billion, in connection with a new $3 billion ABL facility and $1.3 billion secured bond issuance. This restructuring was awarded “Restructuring and Insolvency Deal of the Year” at the IFLR1000 United States Awards 2021.
  • Noble Group Limited and certain subsidiaries, a multinational physical commodity trading enterprise with operations throughout the world, in its multi-jurisdictional restructuring of approximately $10 billion of funded debt.
  • Aegean Marine Petroleum Network Inc. and certain subsidiaries, a leading international marine fuel logistics company with approximately $900 million of funded indebtedness, in their Chapter 11 cases filed in the United States Bankruptcy Court for the Southern District of New York.
  • Agrokor d.d. and its subsidiaries in its Croatian restructuring proceedings and certain recognition proceedings around the world, including Chapter 15 cases in the U.S. Bankruptcy Court for the Southern District of New York. Agrokor’s ground-breaking restructuring was the largest in Europe in 2017 and 2018 and was the first ever restructuring under the 2017 Law on Extraordinary Administration Proceedings for Companies of Systemic Importance for the Republic of Croatia.
  • Seadrill Limited and certain of its direct and indirect subsidiaries in their multi-jurisdictional restructuring of approximately $20 billion of contract and debt obligations.
  • Dex Media, Inc., a leading international media and marketing company, and its affiliates and subsidiaries in their restructuring of approximately $2.5 billion of funded debt.
  • hibu plc, formerly Yell Group plc, a multinational directories and internet service company headquartered in Reading, United Kingdom, with operations in the United Kingdom, the United States, Spain and Latin America, in its restructuring of its approximately £2.2 billion of funded debt and its subsequent Chapter 15 filing.
  • Flying J Inc., a fully integrated oil company with operations in the field of exploration, production, refining, transportation, wholesaling and retailing of petroleum products, and one of the 20 largest privately held companies with over $1.3 billion in funded debt and 2007 consolidated sales in excess of $16.2 billion, in its Chapter 11 case.
  • W. R. Grace & Co., a $3.3 billion-revenue company, and its affiliates in their Chapter 11 cases seeking to resolve significant asbestos related liabilities.
  • SIRVA Inc., and its domestic affiliates, a $4 billion revenue company and a leader in the global relocation industry operating in more than 45 countries under well-recognized brand names such as Allied Van Lines, North American Van Lines, and Global Van Lines, in their prepackaged Chapter 11 case.
  • Calpine Corporation and its affiliates, the world's largest producer of renewable geothermal energy, in their Chapter 11 cases, which, at the time of filing, was the sixth largest case to file Chapter 11 in U.S. history with $17.2 billion in debt, $22.5 billion in total liabilities, and $26.6 billion in assets.
  • Edcon Holdings Limited, headquartered in Johannesburg, South Africa and the largest nonfood retailer in South Africa with more than 1700 stores, in its restructuring and the first ever formal recognition of a South African compromise proceeding under Chapter 15.
  • Harkand Gulf Contracting Limited and its affiliates in their chapter 15 recognition proceedings.
  • Kellogg Brown & Root, Inc., and other subsidiaries of Halliburton Company in their Chapter 11 case that resolved asbestos- and silica-related liabilities, included a trust valued at over $4 billion, and is the largest successful prepackaged bankruptcy case involving asbestos-related liabilities.
  • ABB Holdings Inc. in the prepackaged Chapter 11 cases of its subsidiaries, Combustion Engineering, Inc. and ABB Lummus Global Inc., which resolved the asbestos-related liabilities of certain subsidiaries of ABB Ltd. and included trusts valued at over $1.2 Billion.
  • Solutia, Inc., a company with more than $3 billion of funded debt, and its affiliates in their Chapter 11 cases with respect to certain complex mass tort issues and legacy liabilities associated with its 1997 spinoff from Pharmacia Corporation.
  • Tower Automotive, Inc., a $2.5 billion-revenue global Tier I automobile supplier, and its subsidiaries in their Chapter 11 proceedings.
  • Collins & Aikman Corporation and its affiliates, a global Tier I automobile supplier with nearly $4 billion in annual sales, approximately $3 billion of funded debt and other obligations, and approximately 23,000 employees.
  • The Babcock & Wilcox Company, a worldwide manufacturer of boilers and other products, and its affiliates in their Chapter 11 cases that resolved asbestos and other mass tort liabilities through a plan of reorganization involving sections 524(g) and 105 of the Bankruptcy Code.
  • Mood Media, a leading global provider of in-store audio, visual and other forms of media and marketing services in North America and internationally across a broad range of industries including retail, food retail, car dealerships, financial services and hospitality, in its Chapter 15 case in the United States Bankruptcy Court for the Southern District of New York.

Creditor/Investor Representations

  • Northern Ocean Ltd., an international drilling contractor, in connection with the US chapter 11 filing of Seadrill Limited and its affiliates, a leading global provider of offshore contract drilling services with approximately $7.3 billion in debt at the time of filing, and the negotiation of a contract dispute with Seadrill Limited and its affiliates.
  • An information processing company in the strategic purchase of equity interests in certain financially distressed financial technology companies and substantially all of the assets of another financially distressed financial technology company through an out-of-court Article 9 foreclosure sale by a secured seller-party.
  • Angelo, Gordon & Co., L.P. ("AG"), in its capacity as a term loan lender to, and a new money equity investor in, APR Operating LLC (D/B/A Admiral Permian Resources) ("APR"), in connection with (a) the out-of-court restructuring of APR's outstanding indebtedness and (b) AG's new money equity investment in APR.  APR is a privately held exploration and production company that is focused on the acquisition and development of oil and gas properties in the Permian Basin. 
  • The Jordan Company as buyer-side/lender counsel in the restructuring of Techniplas, LLC, a global manufacturer of auto components with production facilities and technical and sales centers in the United States, Mexico, Brazil, Germany, Switzerland, France, Spain, South Africa and China.
  • World Fuel Services and its affiliates as lead bankruptcy counsel in the mass tort bankruptcy cases involving the Montreal, Maine and Atlantic Railway and arising out of the derailment in Lac-Megantic, Quebec.
  • Bain Capital in certain in court and out-of-court proceedings.
  • Oaktree Capital and its affiliates in certain in court and out-of-court restructurings.
  • The Blackstone Group and GSO Capital Partners in numerous out-of-court restructurings.
  • 20th Century Fox and its affiliates in certain in court and out-of-court restructuring matters.
  • Homewood Capital in the acquisition of substantially all of the assets of the estate of NJOY, Inc.
  • National Geographic Channel in numerous in court and out-of-court matters.
  • DIRECTV, LLC in the Chapter 11 proceeding of one of its largest service providers, Capitol Infrastructure, LLC, d/b/a Connexion Technologies.
  • Imperial Tobacco in the bankruptcy case of The Flintkote Company and the debtor's case against Imperial Tobacco seeking to recover dividends totaling approximately $525 million under various theories including fraudulent conveyance and illegal dividends, as well as impose over $2 billion in asbestos liabilities of Flintkote under an alter ego claim, all arising out of Imperial Tobacco's acquisition of Flintkote's parent in 1986.
  • Monomoy Capital Partners in the acquisition of the Molded Products division of Atlantis Plastics in the bankruptcy case of Atlantis Plastics.
  • Waud Capital Partners, Francisco Partners, and Silver Lake in certain out-of-court distressed matters.
  • Madison Dearborn Partners, Inc. in certain in-court and out-of-court restructurings.
  • Goldman Sachs in certain Chapter 11 proceedings.
  • The Dow Chemical Company in connection with Chapter 11 proceedings of its customers.
  • Allied Textile Companies, PLC in connection with the Chapter 11 proceeding of its subsidiary, Carleton Woolen Mills, Inc., and related litigation alleging, among other things, fraudulent conveyance and breach of fiduciary duty.
  • Yamaha Motors Corporation in connection with various Chapter 11 proceedings of its customers.
  • Quest Communications Corporation in connection with various Chapter 11 proceedings of its customers.


The Catholic University of America, Columbus School of Law, JD, cum laude

Member, Law Review; National Moot Court Team

James Madison University, BA, cum laude


  • Illinois
  • New York
  • District of Columbia
  • Virginia (inactive)
  • Maryland (inactive)


  • Former co-chair, ABI Mass Tort Committee
  • American Bankruptcy Institute
  • INSOL International
  • Turnaround Management Association
  • Lead restructuring counsel to the Board of Directors of Macy’s, Inc. in connection with a new $3 billion ABS facility and $1.3 secured bond issuance, which won “Restructuring and Insolvency Deal of the Year” at the IFLR1000 United States Awards 2021.
  • Shortlisted for “Lawyer of the Year – Restructuring and Insolvency” at the IFLR1000 United States Awards 2021.
  • Recognized in The Best Lawyers in America for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law.
  • Ranked in Chambers USA for Bankruptcy/Restructuring – Illinois.
  • Recognized by IFLR1000 as Highly Regarded in Restructuring and Insolvency.
  • Recognized in Lawdragon’s 500 Leading U.S. Bankruptcy and Restructuring Lawyers.
  • Recognized in 2012 by Law360 as one of five lawyers nationwide under 40 as a “Rising Star” and one who “has established a name for himself as a tireless and skilled bankruptcy practitioner.”
  • Quoted by leading publications, such as The Wall Street Journal and Bloomberg Law.
  • Argued the In re Agrokor d.d. case, which was recognized by the Turnaround Management Association (TMA) as “2019 International Company Turnaround of the Year”, by IFLR as “Deal of the Year (Restructuring)” at the IFLR Europe Awards 2020, and was shortlisted at the GRR Awards 2019 for most important cross-border recognition decision.
  • Lead restructuring counsel to Aegean Marine Petroleum Network Inc., which was shortlisted at the GRR Awards 2019 for cross-border cooperation in a specific restructuring or insolvency matter.
  • Lead US restructuring counsel to Noble Group Limited, which won “Finance Deal of the Year: Insolvency and Restructuring” at the Asia Legal Awards 2019, “Restructuring Deal of the Year” at the IFLR Asia Awards 2019, and the award for “Innovation in Cross-Border Restructuring and Insolvency” at the GRR Awards 2018.
  • One of the lead US restructuring counsel for Seadrill which was recognized by The Deal as “2019 Restructuring Deal of the Year” and by TMA as “2019 International Company Transaction of the Year.”
  • Nominated as 2016 Bankruptcy Lawyer of the Year by the Benchmark Litigation Awards.
  • Two restructurings selected by The American Lawyer as Global Finance Deal of the Year: Restructuring and Insolvency. In 2017, his restructuring of Edcon Holdings Limited won in the Africa category, and, in 2014, his restructuring of hibu Group won in the UK category.
  • Former editorial board member for the National Association of Bankruptcy Trustees’ quarterly publication “NABTalk.”