Paul, Weiss, Rifkind, Wharton & Garrison announced that James H.M. “Jamie” Sprayregen has joined the firm as a partner and will serve as co-head of its Restructuring & Debt Capital Solutions practice.
Sprayregen will co-lead the practice alongside existing co-heads Brian S. Hermann and Andrew N. Rosenberg. In this role, he will advise domestic and international debtors, creditors, and other key stakeholders on restructuring matters.
Sprayregen brings more than three decades of experience leading major restructurings and advising clients in complex distressed situations. He has worked across private practice, business advisory, and financial advisory roles, including founding the worldwide restructuring practice at another major law firm.
He also previously served as co-head of the Restructuring Group at Goldman Sachs from 2006 to 2008, where he advised clients and deployed capital in restructuring and distressed situations. In 2024, Sprayregen joined Hilco Global as Vice Chairman, Global Strategy & Growth.
Sprayregen has advised companies in capital solutions and distressed situations both in and out of court, along with buyers and sellers of distressed assets. His experience includes advising domestic and international debtors and creditors in workout, insolvency, restructuring, and bankruptcy matters.
His past restructuring work includes matters involving Avaya, Caesars Entertainment Operating Company, Chiquita Brands International, Corus Bankshares, Energy Future Holdings, General Growth Properties, The Great Atlantic & Pacific Tea Company, iHeartMedia, Innkeepers USA Trust, ION Media Networks, Japan Airlines, Lear, Majestic Star Casino, NRG Energy, Reader’s Digest, Sbarro, Seadrill, Tower Automotive, Toys “R” Us, Trans World Airlines, United Airlines, and Visteon, among others.
Sprayregen has also received several industry recognitions throughout his career. He was inducted into the Turnaround Management Association’s Turnaround, Restructuring and Distressed Investing Industry Hall of Fame in 2013 and was named by The National Law Journal in 2010 as one of “The Decade’s Most Influential Lawyers.” From 2013 to 2015, he served as president of INSOL International.
Sprayregen was also an adjunct full professor of finance at the Wharton School of the University of Pennsylvania, where he taught a joint course on corporate restructuring with Penn Law. He earned a J.D., cum laude, from the University of Illinois College of Law and a bachelor’s degree, cum laude, from the University of Michigan.
Paul, Weiss also announced that Paul Basta, who has served as a co-head of the Restructuring & Debt Capital Solutions practice and a partner since 2017, will step down as a partner at the end of the year as part of a long-term succession plan. Basta plans to pursue the next chapter of his career and will support a smooth leadership transition over the coming months.
Basta has represented clients including Party City, Revlon, and Sears in major restructuring matters over the past 25 years.
Paul, Weiss’s Restructuring & Debt Capital Solutions Group helps clients navigate complex financial and capital structure challenges. The group represents debtors, equity sponsors, investors, fulcrum lender groups, and creditor groups across in-court and out-of-court restructurings. The practice also advises on liability management transactions and debt, equity, and hybrid capital solutions.
KEY QUOTES:
“Jamie Sprayregen is a superstar lawyer. He has been a close business colleague and a good friend of mine for more than 25 years, and I am excited to work with him as a partner in our world-class restructuring practice.”
“Paul has been a great partner and colleague over the last nine years and has had a major positive impact on a generation of restructuring lawyers and clients at Paul, Weiss. We sincerely thank him for his many contributions and wish him the very best in the future.”
Scott A. Barshay, Chairman of Paul, Weiss
“What has made Jamie the first call for so many iconic companies for decades is his unparalleled ability to earn the trust of boards and senior executives under extraordinary pressure. He is a spectacular addition to our practice.”
Brian S. Hermann, Co-Head of the Restructuring & Debt Capital Solutions practice at Paul, Weiss
“Jamie’s arrival reflects the momentum our restructuring team has built and our commitment to being the destination for global clients confronting their most difficult restructuring matters.”
Andrew N. Rosenberg, Co-Head of the Restructuring & Debt Capital Solutions practice at Paul, Weiss
“Paul, Weiss is a true restructuring powerhouse. I have known many of the Paul, Weiss partners for decades, I admire what they have built, and I can’t wait to be a part of it.”
James H.M. “Jamie” Sprayregen, Partner and Co-Head of the Restructuring & Debt Capital Solutions practice at Paul, Weiss
“I am immensely grateful for my time at Paul, Weiss. I’m excited to see what Jamie and the rest of our talented group accomplish in the years to come, and am committed to supporting a smooth leadership transition over the coming months.”
Paul Basta, Partner and Co-Head of the Restructuring & Debt Capital Solutions practice at Paul, Weiss
