The Firm took root in 1983, just a few years after the enactment of the United States Bankruptcy Code. Having this vantage point meant that not only was the Firm in lockstep with the underpinnings of the birth of modern bankruptcy law, but as the Legislature later amended the Bankruptcy Code beginning in 1984, the Firm’s attorneys have remained abreast of the new enactments — and have captured the significance of the changes within the umbrella of its acumen — which has enabled them to maintain a competitive advantage among their peers. From its inception, Adelman & Gettleman has remained at the forefront of insolvency law.
Nearing its fourth decade of practice, Adelman & Gettleman continues to be a major presence in the bankruptcy and insolvency workout arena in Chicago and surrounding areas. Its founders, Howard L. Adelman and Chad H. Gettleman, are amongst the deans of this practice area and enjoy sterling reputations. The other members of the Firm have developed similar expertise, and are poised to assume the mantle of leadership that will enable Adelman & Gettleman to continue to thrive into the future.
The current partners of the Firm have enjoyed practicing with one another for more than a decade and have built a collaborative work environment geared towards benefiting the Firm’s clients. While the current scope of representation primarily centers on representing corporations and individuals in financial distress, the Firm has significant experience in representing secured lenders, unsecured creditors, receivers, assignees, and bankruptcy trustees as well. This wide ranging panoply of clientele has caused Adelman & Gettleman to be uniquely situated in the insolvency and workout realm. By absorbing the insights gained from the perspective of financial institutions as well as non-bank creditors, members of the Firm have an enhanced understanding of how to approach the signature conflicts surrounding the debtor and creditor relationship. This wide ranging experience has in turn permitted the Firm to reach optimal solutions on a consensual and cost-effective basis, but also, to litigate efficiently and successfully when necessary.
The Firm’s practice is focused almost exclusively on insolvency and bankruptcy law, whether inside or outside of bankruptcy proceedings, representing debtors or creditors, counseling purchasers or sellers of business assets, or providing comprehensive workout advice. In recent years, Adelman & Gettleman has largely jettisoned its representation of banks to focus on its debtor representation and, in so doing, is not vulnerable to being compromised by conflict waivers and the inevitable risk of divided loyalties.
The Firm’s clients can rest assured they are engaging attorneys who will not stop until their ultimate objectives are met, and who have repeatedly demonstrated manifest skills and acumen. So too do opposing lawyers recognize that Adelman & Gettleman’s attorneys are formidable but fair, sophisticated but pragmatic, forceful but not intractable.
Another benefit to retaining Adelman & Gettleman is its rate schedule. As a boutique, the Firm is nimble and not subject to the financial structure, overhead, or rate mandates of big-law. These economies of scale permit the Firm’s attorneys to provide counsel at the level of the top attorneys in the insolvency field, at hourly rates that are often hundreds of dollars less than the rates of their fellow practitioners. In this way, Adelman & Gettleman remains accessible to all walks of clientele.
The Firm’s lawyers have been recognized in the Best Lawyers in America, Leading Lawyers, Super Lawyers, Rising Stars, and Emerging Lawyers publications. Howard Adelman was tabbed as one of the top ten lawyers in Illinois by Super Lawyers from 2012 to 2018, and has been named to the top 100 from 2006 to present. Several of the Firm’s lawyers have been rated “AV Preeminent” by Martindale-Hubble, the highest rating for professional excellence.
Chambers USA recognizes Adelman & Gettleman as a leading bankruptcy firm in Illinois, “for having earned acclaim in its handling of regional bankruptcies.” Adelman & Gettleman is committed to maintaining its reputation as Chicago’s premier boutique insolvency law firm.
Founded in 1983
9 people in their team
The attorneys at Adelman & Gettleman understand that bankruptcy is not always warranted or feasible. As such, where appropriate, they advise their clients on alternative means of remedying their financial difficulties, selecting from a multitude of options such as workouts, assignments for the benefit of creditors, a viable forbearance arrangement, or other manner of consensual resolution. At the same time, the attorneys are keenly aware of the need to advise their clients on how to comply with applicable fiduciary duties to insure that, in the midst of contending with myriad financial difficulties, their problems are not exacerbated by the risk of personal exposure.
The leaders of the Firm have instilled a defining philosophy built on collaboration and consensus, with active and productive byplay in all matters. In this way, the Firm’s clients are assured of obtaining optimal advice built on cohesion and refined colloquy. Indeed, our adversaries typically welcome our involvement because we bring credibility, know-how, and a reputation for getting difficult jobs done.
With this grounding, the attorneys dedicate their efforts to: (i) identifying problems before they arise; (ii) structuring potential resolutions which incorporate a long range outlook that will resonate far into the future and have lasting permanence; (iii) establishing a positive relationship with opposing counsel early on with an eye towards consensually resolving underlying disputes; and (iv) regularly reevaluating goals and strategies to ensure the best possible results. More often than not, the Firm serves as the quarterback, working extensively with its clients and other professionals to achieve the ultimate objectives.
The members of the Firm thrive on dealing with challenging, novel legal issues that require hard work and a nuanced, detail-oriented approach. Whether evaluating the merits of a complex corporate structure or briefing an issue of first impression, its members take the necessary steps to properly address the relevant legal and financial concerns defining the nature and breadth of the particular engagement.
The Firm’s attorneys take a holistic approach to representing clients and routinely handle the following types of matters.
