O’Melveny has expanded its Bankruptcy & Restructuring practice with the appointment of Penelope Jensen as a partner in its New York office. Jensen was appointed as a partner in the Restructuring & Insolvency practice, bringing nearly two decades of experience representing creditors, lenders, and other financial stakeholders in complex domestic and international restructuring matters.
Her arrival marks O’Melveny’s second bankruptcy and restructuring partner addition in September 2026, following the September 2 appointment of David Botter, who joined from Cleary Gottlieb. The latest hire strengthens the firm’s creditor-side and special situations capabilities as it continues expanding its restructuring practice.
Jensen advises banks, financial institutions, and other creditors on complex bankruptcy and insolvency matters involving multiple jurisdictions. Her practice includes representing administrative agents, ad hoc and steering committees, individual lenders, and other institutional creditors in distressed situations.
Her experience encompasses Chapter 11 and Chapter 15 bankruptcy proceedings, out-of-court restructurings, and distressed-asset sales. She also advises prospective buyers seeking to acquire assets from financially distressed companies.
Chapter 11 proceedings generally allow businesses to reorganize their debts while continuing operations, while Chapter 15 provides a framework for coordinating cross-border insolvency proceedings. Jensen’s experience across these areas supports clients dealing with complicated capital structures, international operations, and competing creditor interests.
Her sector experience includes electric power, energy, and manufacturing, industries that frequently require specialized restructuring advice because of their capital-intensive operations, financing arrangements, and complex creditor relationships.
At O’Melveny, Jensen will work with the firm’s existing restructuring team to advise lenders and other stakeholders on financial distress, insolvency proceedings, and special situations transactions.
Her experience representing institutional creditors also complements the firm’s broader capabilities in corporate finance, litigation, and complex business transactions.
Jensen has received professional recognition from Chambers USA, The Legal 500 US, Lawdragon, The Deal, and IFLR for her bankruptcy and restructuring work.
Before joining O’Melveny, she practiced at Linklaters in New York, advising clients on domestic and international restructuring transactions and insolvency proceedings.
Her appointment follows O’Melveny’s recent recruitment of David Botter, further expanding the firm’s New York-based restructuring capabilities. The additions provide the practice with additional experience representing stakeholders in complex financial restructurings and distressed transactions.
Jensen’s arrival also contributes to O’Melveny’s broader lateral hiring strategy. Since 2023, the firm has recruited 57 lateral partners, including 37 corporate partners, reflecting its continued investment in expanding its transactional and advisory practices.
Her educational background includes a Juris Doctor from St. John’s University School of Law and a Bachelor of Business Administration from Hofstra University.
KEY QUOTES:
“We are delighted to welcome Penelope as the newest addition to our award-winning Bankruptcy & Restructuring team. Penelope has a proven track record of successfully guiding a wide range of stakeholders through distressed situations. Her deep experience representing banks and other large institutional creditors aligns well with our strategic objectives, and her impressive talent and enthusiastic approach make her a perfect addition to our firm. It is a pleasure to welcome her aboard.”
Bradley J. Butwin, Chair of O’Melveny
“I’m thrilled to join O’Melveny as I start this exciting new career chapter. Not only is O’Melveny’s Bankruptcy & Restructuring team renowned for providing superior client service, but the firm’s emphasis on thoughtful expansion and its commitment to promoting a genuine culture of collaboration were huge draws. O’Melveny is an ideal fit for my clients and my practice.”
Penelope Jensen, Partner in the Bankruptcy & Restructuring Practice at O’Melveny
