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Keith Shapiro

Keith J. Shapiro has more than 35 years of experience representing key participants in complex corporate restructurings and Chapter 11 bankruptcy cases. Keith is the Co-Founder of GT’s Chicago Office, which he led as Co-Managing Shareholder and Chairman for over 20 years. He also served as a member of the firm’s Executive Committee for 17 years and as Global Vice President and Chairman of Strategic Recruiting for the firm. He co-led the firm’s Global Restructuring & Bankruptcy Practice for 20 years and continues to serve as Chairman Emeritus of the group.

A global leader in the restructuring community, Keith previously served as Chairman of the Board and President of the American Bankruptcy Institute, a member of the International Board of Directors of the Turnaround Management Association, a member of the International Board of Directors of INSOL International, and Chair of the Chicago Bar Association's Bankruptcy and Reorganization Committee. He is a Fellow of the American College of Bankruptcy.


  • Real estate
  • Hedge funds
  • Health care
  • Cross-border insolvencies
  • Capital markets and syndicated transactions
  • Food products and restaurant industry
  • Technology
  • Airlines
  • Retail



  • Represented Bellus ALC Investments 1 in connection with the out-of-court restructuring of American Laser Centers, a laser hair removal clinic with more than 100 locations across the United States, and the subsequent Chapter 11 case of American Laser Centers, resulting in Bellus' acquisition of the ALC business in a sale pursuant to Section 363 of the Bankruptcy Code.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 cases of Sportsman's Warehouse, Inc.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of Monaco Coach Corporation.
  • Represented homebuilder Ashton Woods USA LLC in an exchange offer for its senior subordinated notes, senior credit facility amendment and capital restructuring plan. As a result of the plan, the company obtained new capital, reduced its overall debt and improved its liquidity.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of ethanol producer Renew Energy LLC.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of DBSI, Inc. and its approximately 150 affiliates. DBSI is the largest tenants in common real estate syndicator and was the sponsor of investments with more than $2.5 billion of value.
  • Represented William Yung and Tropicana Casinos & Resorts, Inc., the 100 percent equity holders of Tropicana Entertainment, LLC, in its Chapter 11 case involving the restructuring of more than $2 billion in debt.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of Michael Reese Medical Center Corporation.
  • Represented the Official Committee of Unsecured Creditors and Post-Consummation Trust in the Conseco Finance Company Chapter 11 cases.
  • Represented the co-chair of the Official Committee of Unsecured Creditors in the Chapter 11 reorganization of Kmart Corporation.
  • Represented Acxiom Corporation as the chair of the Official Committee of Unsecured Creditors in the second Chapter 11 filing of Montgomery Ward.
  • Represented Mestek, Inc. in the Chapter 11 case of its wholly owned subsidiary, Met-Coil Systems Corporation, LLC. As part of this Chapter 11 case, millions of dollars of alleged toxic tort liability were settled.
  • Represented the City of Chicago in the United Airlines Chapter 11 case.
  • Represented Midas, Inc. in a $172.5 million refinancing.
  • Represented Gibson Guitar in its purchase of the assets of Baldwin Piano and Organ out of Chapter 11.
  • Represented North America in the first Chapter 11 of a global retailer.
  • U.S. Counsel to the Joint Provisional Liquidators of Fruit of the Loom filed in the Cayman Islands and Delaware.
  • U.S. Counsel to the Joint Provisional Liquidators of ICO Global Communications, Inc., a multibillion-dollar satellite telecommunications case filed contemporaneously in Bermuda, the Cayman Islands and Delaware.
  • Represented a NYSE-listed health care REIT, a lessor of a more than $500 million nursing home portfolio, in the Chapter 11 case of Sun Healthcare Group, Inc.
  • Represented a major foreign lender participant in Bank Group in a landmark bankruptcy case, 203 N. LaSalle Street Partnership.
  • Served as court-appointed examiner in the Chapter 11 case of Unison Healthcare Corporation, a publicly traded nursing home business.
  • Represented the Official Committee of Unsecured Creditors' in the FPA Medical Management Inc., the nation's largest physician practice management, Chapter 11 case, involving 7900 physicians and 1.4 million HMO enrollees in 29 states. The bankruptcy case concluded with a confirmed plan of reorganization allowing for the sale of the companies after nearly one year of negotiations.
  • Represented Volunteer Health Systems, Inc. in its Chapter 11 liquidation of several not-for-profit hospitals.
  • Represented the Official Committee of Unsecured Creditors' in the Chapter 11 case of Gyncor (Center for Human Reproduction), one of the country's largest reproductive services chains.
  • Assisted in drafting the health care bankruptcy provisions of Public Law No. 109-8 (the 2005 amendments to the Bankruptcy Code), which were signed into law by President Bush on April 20, 2005.
  • Testified before the United States Senate Subcommittee on Administrative Oversight and the Courts in support of the health care bankruptcy provisions of Senate Bill 1914, June 1, 1998, of which he was a principal draftsman. This bill passed in the Senate unanimously as Amendment 1730 to S.625 in November 1999.
  • Testified before the National Bankruptcy Review Commission at its inaugural hearing in November 1995 and on several other occasions.
  • Testified before the United States Senate Subcommittee on Administrative Oversight on professional fee reforms that were enacted in the Bankruptcy Reform Act of 1994 and on health care reform in 1997.

Sukcesy i wyróżnienia

  • Listed, The Best Lawyers in America, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, 2001-2021
  • Listed, Chambers USA Guide, 2005-2020
    • “Eminent Practitioner,” 2017-2020
  • Listed, Super Lawyers magazine, Illinois Super Lawyers, 2005-2021
  • Listed, Lawdragon 500, "Leading Global Bankruptcy & Restructuring Lawyers," 2020
  • Listed, Leading Lawyers Network, 2005-2021
    • Listed, “Among the Top 10 Transactional Lawyers in Illinois,” 2018
    • Listed, “Among the Top 10 Commercial Bankruptcy Lawyers in Illinois,” 2014, 2018
    • Listed, “Among the Top 100 Business Lawyers in Illinois,” 2012, 2018
    • Listed, “Among the Top 250 Business Lawyers in Illinois,” 2014
  • Listed, The Legal 500 United States, 2011-2019
  • Recipient, Emory Bankruptcy Developments Journal's “Distinguished Service Award for Lifetime Achievement,” 2017
  • Recipient, Hugh O’Brian Youth Leadership’s Albert Schweitzer Leadership Award, 2016
  • Listed, Crain's Chicago Business, “Who's Who in Chicago Business,” 2005-2016
  • Recipient, “Industry Turnaround Leadership Award of the Year,” Global M&A Network’s Turnaround Atlas Awards, 2014
  • Recipient, American Jewish Committee’s Judge Learned Hand Award, 2013
  • Listed, “Top 100 Global Restructuring and Turnaround Professionals,” Global M&A Network, 2013
  • Member, Winning Team, Global M&A Network’s Turnaround Atlas Award, “Insolvency Deal of the Year – Middle Markets,” for the Chapter 11 restructuring of ShengdaTech, Inc., 2013
  • Member, Winning Team, U.S. News - Best Lawyers “Law Firm of the Year” in Bankruptcy & Creditor Debtor Rights / Insolvency & Reorganization Law and Litigation – Bankruptcy, 2013
  • Named, “Restructuring Lawyer of the Year - Middle Markets,” Global M&A Network’s Turnaround Atlas Awards, 2012
  • Member, Winning Team, Global M&A Network’s 2012 Turnaround Atlas Award for “Private Equity Turnaround of the Year” for the Chapter 11 reorganization and acquisition of American Laser Skincare LLC
  • Fellow, American College of Bankruptcy
  • Recommended, PLC Which Lawyer Guide, Restructuring and Insolvency, 2008-2009
  • Listed, Who's Who Legal USA - Insolvency & Restructuring
  • Rated, AV Preeminent® 5.0 out of 5.0

°AV®, AV Preeminent®, Martindale-Hubbell DistinguishedSM and Martindale-Hubbell NotableSM are certification marks used under license in accordance with the Martindale-Hubbell® certification procedures, standards and policies.

  • International Board of Directors, Turnaround Management Association, 2010-2012
  • American Bankruptcy Institute (ABI)
    • Chairman of the Board, 2002-2003
    • President, 2000-2001
    • Member of Board of Directors and Executive Committee, 1999-2000
    • Founding Chair, Central States Bankruptcy Workshop, 1993-1999
    • Founding Chair, Committee on Health Care Insolvency, 1994-1998
    • Founding Chair, Committee on Professional Compensation in Bankruptcy Cases, 1989-1994
  • Former Member, Board of Directors, INSOL International
  • R3 (London)
  • General Counsel, Association of Insolvency and Restructuring Advisors, 1993 –Present
  • Co-Chair, Illinois Holocaust and Genocide Commission, 2015-Present
  • Jewish United Fund
    • Former Member, Board of Directors
    • Chair, Trades, Industries & Professions Division, 2013
    • Vice-Chairman, 2008-2009
    • Chair, Lawyer's Division, 2007-2012
    • Co-Leader, Nachshon Poland/Israel Leadership Mission, 2006
    • Chair, Lawyers Division Dinner, 2005
  • Anti-Defamation League
    • Associate National Commissioner
    • Member, Development Committee, 2006-Present
    • Member, Executive Committee, 2005-Present
  • Former Member, Board of Directors, American Jewish Committee
  • Founding Chair, Law and Justice Committee of the United States Holocaust Memorial Museum, 1997-Present
  • Emory University School of Law
    • Law Advisory Board, 2008-Present
    • Alumni Advisor, Emory Bankruptcy Developments Journal
      • Recognized for his contributions to the Emory Bankruptcy Developments Journal on its 30th anniversary, 2015
    • Law School Council, 2003-2008
  • The American Israel Public Affairs Committee
    • Former Member, National Council
    • Former Member, Illinois Executive Committee
  • Advisory Board, DePaul University College of Law's Center for Jewish Law and Judaic Studies, 2009-Present
  • Advisory Board, St. John’s University School of Law Bankruptcy L.L.M. Program
  • Jewish Theological Seminary
    • Board of Trustees, 2010-2014
    • Former Advisory Board Member, Albert A. List College
  • Board of Directors, Chicagoland Jewish High School, 2006-2008
  • Rosalind Franklin University of Medicine and Sciences, Chicago Medical School
    • Board of Directors, 2005-2008
    • Secretary, Board Executive Committee, 2006-2008
    • Chair, Audit Committee, 2005-2008
  • Board of Editors and Board of Advisors, West's Annual Survey of Bankruptcy Law, 1984-2002
  • Chair, Chicago Bar Association Bankruptcy & Reorganization Committee, 1999-2000
  • Adjunct Professor, McGeorge School of Law's International program in Salzburg, Austria (International Commercial Arbitration), 1995-2000
  • Founder and First Chairman of the Board of Directors, American Bankruptcy Board of Certification, 1992-1995


  • J.D., Emory University School of Law, 1983
  • B.S., Finance, University of Illinois at Urbana-Champaign, 1980
  • Hon. Richard N. DeGunther, U.S. Bankruptcy Court for the Northern District of Illinois, 1983-1984
Posiadane uprawnienia
  • Illinois
Znajomość języków