On Tuesday, Sidley Austin, a Chicago-based law firm, announced that it had hired former Winstead restructuring shareholder Rakhee Patel as a partner in Dallas. Patel has almost seven years of experience at Winstead and will join Sidley’s 70-lawyer global restructuring group. She advises clients on in-and out-of-court restructurings, distressed investments, and litigation in various industries, including energy, retail, aviation, financial services, life sciences, and real estate.
Sidley Chair Yvette Ostolaza praised Patel’s Texas experience, stating that her reputation with bankruptcy judges, creditors, and lenders will help the firm expand its reach. Patel is expected to contribute significantly to the growth of the firm’s restructuring practice, which is increasingly critical given the current economic climate.
Winstead has acknowledged Patel’s departure and wished her well in her future endeavors. Meanwhile, Sidley has also lost a restructuring partner, Thomas Labuda, who recently left the firm after more than a decade to join Dentons in Chicago.
The legal industry has been experiencing a significant shift in the past year, with law firms being forced to adapt to the changes brought about by the COVID-19 pandemic. The demand for restructuring and bankruptcy services has increased, with many companies struggling to stay afloat amid the ongoing economic crisis. As a result, law firms have been beefing up their restructuring teams to serve their clients’ needs better.
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Sidley has been among the law firms expanding their restructuring practices to keep up with the demand. The addition of Patel to their team is expected to help the firm better serve its clients in Texas and beyond. Patel, highly regarded in the restructuring and bankruptcy industry, will bring her vast experience and expertise to Sidley’s clients.
In conclusion, Sidley Austin’s hiring of Rakhee Patel as a partner in its restructuring group is a significant development for the firm. Patel’s extensive experience and expertise in restructuring and bankruptcy will be a valuable asset to Sidley’s clients. Her reputation with bankruptcy judges, creditors, and lenders is expected to help the firm expand its reach in Texas and beyond, which is increasingly critical given the current economic climate.