"I have worked with Aaron since the early days of his career. He is bright, personable and accessible. His response time and attention to detail go unrivaled. That said, the key reason for retaining him is creative solutions." – National Group Leader, Financial Services Industry
Aaron is a partner at HMB and leads the firm’s Bankruptcy, Reorganization and Creditors’ Rights practice. He devotes his practice to solving his client’s most challenging insolvency and creditors’ rights issues.
Over more than twenty years, Aaron led major engagements on behalf of corporate borrowers, lenders, vendors and financiers and, most notably, bankruptcy committees – both official and unofficial – in countless significant bankruptcies and workouts across the country and in many foreign countries. He represents clients, including chapter 7, chapter 11 and liquidation trustees, as they handle reorganizations and work to preserve and enhance recoveries in complex proceedings.
Prior to joining HMB, Aaron was a name partner at Sugar Felsenthal Grais & Hammer LLP and Chairman of its Executive Committee. Aaron’s role leading major engagements both domestically and internationally has earned him the Turnaround Management Association’s prestigious Large Transaction of the Year award—twice.
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Relationship-Based Approach, Business-Oriented Solutions
Clients rely on Aaron’s business-oriented, relationship-based approach to solve their most challenging insolvency and creditors’ rights issues in both distressed transactions and related litigation. He is known for his leadership and commitment to charity in the Chicago community and beyond.
Experience
- Counsel for Lason, Inc., DIRECTV Latin America, LLC and Metal Management LLC in their successful chapter 11 multi-million dollar debt restructuring proceeding before the U.S. Bankruptcy Court for the District of Delaware.
- Counsel for the Official Committee of Equity Security Holders In re AgFeed USA, LLC, et al. in their successful sale of a multi-national farming operation before the U.S. Bankruptcy Court for the District of Delaware.
- Counsel to the Official Creditors’ Committees for: In re World Marketing Chicago, LLC, et al. (Bankr. N.D. Ill.); In re Newton Manufacturing Co. (Bankr. S.D. Iowa); In re Natural Pork Production II, LP (Bankr. S.D. Iowa); In re Quadrant 4 Systems Corp. (Bankr. N.D. Ill.); In re Trainor Glass Company (Bankr. N.D. Ill.); In re Lyon Workspace Products, LLC, et al. (Bankr. N.D. Ill.); In re Giordano’s Enterprises, Inc. (Bankr. N.D. Ill.); In re Midwest Banc Holdings, Inc. (Bankr. N.D. Ill.); In re Schwab Industries, Inc. (Bankr. N.D. Ohio); In re Arch Aluminum & Glass Co. (Bankr. S.D. Fla.); In re Arena Football League, LLC (Bankr. N.D. Ill.); In re Orius Corporation, Inc. (Bankr. N.D. Ill.); In re Gluth Bros. Construction, Inc. (Bankr. N.D. Ill.); In re Trinsic, Inc. (Bankr. S.D. Ala.); In re Midcom Communications, Inc. (Bankr. E.D. Mich.).
- Counsel to liquidating trustees and plan administrators in the prosecution of mass bankruptcy preference claims in various notable chapter 11 cases, including: In re AgFeed USA, LLC (Bankr. D. Del.); In re Newton Manufacturing Co. (Bankr. S.D. Iowa); In re World Marketing Chicago, LLC (Bankr. N.D. Ill); In re Trainor Glass Company (Bankr. N.D. Ill.); In re Lyon Workspace Products, LLC, et al. (Bankr. N.D. Ill.); In re Arch Aluminum & Glass Co. (Bankr. S.D. Fla.); In re Duke & King Acquisition, Inc. (Bankr. D. Minn.); In re Workflow Management, Inc. (Bankr. E.D. Va.); In re Orius Corp. (Bankr. N.D. Ill.); In re marchFirst, Inc. (Bankr. ND. Ill.); In re Gluth Bros. Construction (N.D. Ill.); In re Schwab Industries, Inc. (Bankr. N.D. Ohio); In re Mid-City Parking, Inc. (Bankr. N.D. Ill.); and In re Knight-Celotex, LLC (Bankr. N.D.Ill.).
- Bankruptcy counsel to a multi-national Fortune 500 information technology outsourcing company in several notable chapter 11 proceedings, including Hawaiian Telecom Communications, Inc. (Bankr. D. Haw.); Delta Air Lines, Inc. (Bankr. S.D.N.Y.); Entergy New Orleans, Inc. (Bankr. E.D. La.); Interstate Bakeries, Inc. (Bankr. W.D. Mo.); Global Crossings, Inc. (Bankr. S.D.N.Y.); WorldCom, Inc. (Bankr. S.D.N.Y.); and NewPage Corporation (Bankr. D. Del.).
- Bankruptcy counsel to a multi-national Fortune 500 insurance and professional services company in various notable chapter 11 proceedings, including Nortel Networks Inc. (Bankr. D. Del.); AbitibiBowater Inc. (Bankr. D. Del.); The Fairchild Corporation (Bankr. D. Del.); Tribune Company (Bankr. D. Del.); Hayes Lemmerz International, Inc. (Bankr. D. Del.); Smurfit-Stone Container Corporation (Bankr. D. Del.); R.H. Donnelley Corporation (Bankr. D. Del.); and AMR Corporation (Bankr. S.D.N.Y.).
- Member of team that successfully represented Bank of America, N.A. before the U.S. Supreme Court in Bank of America v. 203 N. LaSalle Street Partnership, which resulted in a seminal decision concerning the ability of pre-bankruptcy equity holders to acquire equity in a reorganized entity.
- Counsel to Rockwell Petroleum, Inc. and Deloitte and Touch, Inc., as receiver for CPI Plastics Group, Ltd. in their chapter 15 proceedings before the U.S. Bankruptcy Courts for the District of Wyoming and the Eastern District of Wisconsin.
- Counsel to the single largest aircraft financier to United Airlines, Inc. in connection with UAL’s chapter 11 bankruptcy, as well as to other aircraft and equipment financiers in the out-of-court restructuring of American Airlines and the chapter 11 bankruptcies of AMERCO, Inc. (Bankr. D. Nev.), the parent company of U-HAUL, and Atlas Air, Inc. (Bankr. S.D. Fla.).
Education
Northwestern University School of Law, Order of the Coif, magna cum laude, J.D.
University of Michigan, James B. Angell Scholar, Pi Sigma Alpha, B.A.
Admissions
Illinois
New York
United States District Court, Northern District of Illinois
United States District Court, Central District of Illinois
United States District Court, Eastern District of Michigan
United States District Court, Southern District of New York
United States District Court, Eastern District of Wisconsin
United States Bankruptcy Court, District of Delaware (pro hac vice)
United States Bankruptcy Court, Southern District of New York
Honors
Recognized by Chambers USA Guide to America’s Leading Lawyers for Business for his “unrivaled business judgment and client service,” Aaron is widely acknowledged for his achievements on behalf of his clients.
- Section 363 Sale of the Year ($10MM – 25MM) – The M&A Advisor (2018)
- Refinancing Deal of the Year (Under $250MM) – The M&A Advisor (2017)
- Leading Lawyer in Field – Chambers USA Guide to America’s Leading Lawyers for Business (2009-2011, 2013-2014, 2017)
- Selected by peers as a Leading Lawyer in: Bankruptcy & Workout Law: Commercial; Creditor’s Rights/Commercial Collections Law (2008 – 2017)
- Large Transaction of the Year – TMA Global (2014)
- Consumer & Retail Products Deal of The Year – The M&A Advisor (2014)
- Illinois Rising Stars – Super Lawyers (2010-2012)
- Outstanding Young Restructuring Attorney – Turnaround & Workouts (2010)
- 40 Illinois Attorneys Under Forty to Watch, Law Bulletin Publishing Company, publisher of Chicago Daily Law Bulletin and Chicago Lawyer (2009)
- Large Transaction of the Year – TMA Chicago/Midwest Chapter (2009)
- 5.0/5.0 Overall Client Rating – Martindale.com
- Adjunct Professor of the Year, Nominee – Northwestern University School of Law (2002, 2003)
Professional Memberships
Young President’s Organization
Anti-Defamation League
Turnaround Management Association
INSOL International
New York State Bar Association
Illinois State Bar Association
Events
- Aaron L. Hammer Presents a Webinar, "What's on the Menu? Restaurant Groups Respond to COVID-19" for the TMA Town Hall - 11/11/20November 3, 2020
11/11/20 1:15PM CT Be sure to join the next TMA Town Hall where a robust discussion, featuring former TMA Chicago/Midwest President and restaurant owner Aaron L. Hammer (TMA Chicago/Midwest), along with other industry heavyweights, will leave you with plenty of food for thought as they look ahead toward 2021. Whet your appetite for this session by reading Global Pandemic Is…
- Aaron L. Hammer, Sean D. Auton, Bill Katris and Matthew R. Barrett Present a Webinar "Contract Rights and Insurance Claims Under COVID-19" to the Young Presidents' Organization - 4/8/2020March 30, 2020
4/8/2020 12:00pm CST Sean D. Auton, Aaron L. Hammer, Bill Katris and Matthew R. Barrett will discuss COVID-19 and its impact on Contract Rights and Insurance Claims. This webinar for the Chicagoland Chapter of the Young Presidents' Organization will address questions such as: Contract Rights under COVID-19 I can’t perform under my contract or leases - what remedies do I…
- Watch Aaron Hammer and Rick Rein Present "Hot Topics in Cross Border Restructurings" On DemandOctober 14, 2019
On 9/17/19 Aaron Hammer and Rick Rein presented "Hot Topics in Cross Border Restructurings" at the Offices of Gowling WLG LLOP in Toronto, Canada. Aaron and Rick discussed the role of chief restructuring officers and other turnaround professionals in Canadian restructuring, flash points in today's cross border insolvencies, and the cannabis space. This program was intended for lenders, turnaround professionals…
- Aaron Hammer and Rick Rein present "Hot Topics in Cross Border Restructurings" - 9/17/19August 16, 2019
9/17/19 Offices of Gowling WLG LLP Toronto, Canada Aaron Hammer and Rick Rein present "Hot Topics in Cross Border Restructurings" at the Offices of Gowling WLG LLP on September 17th. The discussion will include: The Role of Chief Restructuring Officers and Other Turnaround Professionals in Canadian Restructuring • Would Canadian restructurings benefit from an increased use of CROs, similar to…
Publications
- Force Majeure? It’s Unorthodox, But I’ll Allow It: Bankruptcy Court Excuses § 365(d)(3) Performance Due to CoronavirusJune 10, 2020
In an opinion for our troubled times, Northern District of Illinois Bankruptcy Judge Donald Cassling granted debtor Hitz Restaurant Group (“Hitz”) some reprieve from § 365(d)(3)’s strict requirements due to a combination of COVID-19 shutdown orders and a favorably-worded force majeure clause. Hitz’s landlord, Kass Management Services, Inc. (“Kass”) moved to lift the automatic stay after Hitz stop making its…
- Out-of-Court Distressed Asset Purchases - What You Need to KnowMay 1, 2020
Out-Of-Court Distressed Asset Purchases, a Primer The COVID-19 pandemic has impacted businesses and commercial relationships worldwide, cutting wide swaths of through entire sectors of the economy. The current government regime of subsidizing whole industries and individual businesses is still evolving. Commercial lenders have been incentivized to forbear and defer defaults – but the piper must eventually be paid. Enterprises that…
- New Subchapter V of the Bankruptcy Code May Be the Salvation for Small Businesses to Survive COVID-19May 1, 2020
The Small Business Reorganization Act (SBRA) was enacted in February 2020 with no one anticipating the global pandemic. Today, the financial consequences have hit small businesses hard. The SBRA, commonly known as Subchapter V, may provide much-needed relief to small businesses as they struggle through the crisis. With the Subchapter V election likely to surge during and after the pandemic,…
- Bankruptcy in the Time of CoronavirusApril 6, 2020
The Coronavirus crisis has arrived. This global pandemic has placed a hard stop on economic activity across the board, sending markets into freefall and skyrocketing unemployment claims to unprecedented heights. Chapter 11 filings are anticipated to surge, forcing bankruptcy courts to clean up large swaths of the crisis’ aftermath. But for now, it is anyone’s guess when the uptick in…
- Zone of Insolvency and Fiduciary Duties – a Brief Summary of What Directors and Officers Need to KnowMarch 23, 2020
The outbreak of the COVID-19 pandemic has impacted businesses and commercial relationships worldwide. As commercial operations continue to be shuttered and revenues cut off, principals of companies will likely find themselves questioning where their obligations and responsibilities lie when the entity’s solvency is questionable. When a corporation is solvent, the fiduciary duties of the corporation's board of directors run to…
News
- HMB Legal Counsel Retained as Counsel for Wind-Down Trustee In re OGGUSA, Inc. f/k/a GenCanna Global USADecember 29, 2020
Aaron L. Hammer, John W. Guzzardo and Nathan E. Delman of HMB Legal Counsel have been retained as counsel for the wind-down trustee in In re OGGUSA, Inc. (f/k/a GenCanna Global USA, Inc.). Earlier this year, CBD giant GenCanna made national headlines when its creditors forced the company into a Kentucky bankruptcy court After a high stakes court battle which…
- HMB Congratulates Client RED South Beach for Turnaround Management Association Small Business Turnaround AwardOctober 28, 2020
RED South Beach and its turnaround professionals have been awarded the Small Business Turnaround of the Year Award from the TMA’s Chicago/Midwest Chapter. HMB attorneys Aaron L. Hammer, John W. Guzzardo and Nathan E. Delman served as legal counsel to RED South Beach in its turnaround. Although this year’s celebration will be virtual, the Chapter’s Awards Committee and Board will…
- Aaron L. Hammer, David S. Ruskin and Nathan E. Delman Discuss the Hurdles and Risks Facing Cannabis Businesses with the Cannabis Industry JournalFebruary 18, 2020
Two thirds of all states and the District of Columbia have, to varying degrees, legalized cannabis. With the recent addition of Illinois, eleven states now allow adult recreational use. But cannabis entrepreneurs’ rush of excitement and dreams of cashing in is met with fierce competition and economic risks that makes the dreams, which look so dank at first, end up…
- HMB Welcomes Aaron L. Hammer and Expands its Bankruptcy, Reorganization & Creditors' Rights PracticeMarch 6, 2018
PRESS RELEASE Contact: Jason Klika Horwood Marcus & Berk Chartered 312.281.1102 CHICAGO, IL (March 6, 2018) - Horwood Marcus & Berk Chartered ("HMB"), a preeminent provider of legal services in business and finance, litigation, trusts and estates, real estate and state and local taxes, announced that accomplished corporate reorganization, bankruptcy and creditor's rights attorney Aaron L. Hammer joined the firm…
