James B.Sowka
Partner
Bankruptcy & Restructuring
jsowka@seyfarth.com
James partners with clients to navigate the challenges and opportunities posed by financially distressed situations and bankruptcy.
More About James
James helps a wide variety of clients with bankruptcy, creditors’ rights, and real estate workouts and enforcement issues by understanding their businesses, identifying their short-term and long-term objectives, and partnering with clients to formulate legal and business solutions to best achieve those objectives. He also minimizes risk by providing advice on non-distressed legal transactions and operational matters.
Over the past decade, James has developed a broad understanding of bankruptcy and creditor rights laws through his representation of commercial mortgage lenders, asset purchasers, unsecured creditors, trustees, receivers, borrowers, and debtors. This breadth and depth of client engagement provides James with a unique insight into the business challenges and opportunities posed by bankruptcy and financial distress, and permits him to devise unique solutions that obtain favorable results for his clients.
James is co-lead of Seyfarth’s Distressed Situations team and enjoys partnering with Seyfarth's legal experts in virtually every area of law to formulate creative, practical, and pragmatic solutions to his clients' most complex legal and business challenges. He began his legal career in the US Department of Justice working as a trial attorney for the US Trustee’s Office in Chicago, IL and Miami, FL.
Over the past decade, James has developed a broad understanding of bankruptcy and creditor rights laws through his representation of commercial mortgage lenders, asset purchasers, unsecured creditors, trustees, receivers, borrowers, and debtors. This breadth and depth of client engagement provides James with a unique insight into the business challenges and opportunities posed by bankruptcy and financial distress, and permits him to devise unique solutions that obtain favorable results for his clients.
James is co-lead of Seyfarth’s Distressed Situations team and enjoys partnering with Seyfarth's legal experts in virtually every area of law to formulate creative, practical, and pragmatic solutions to his clients' most complex legal and business challenges. He began his legal career in the US Department of Justice working as a trial attorney for the US Trustee’s Office in Chicago, IL and Miami, FL.
- JD, University of Arizona College of Law
- BA, University of Illinois - Chicago
College Honors
- Florida
- Illinois
- US Supreme Court
- US Court of Appeals, Fifth Circuit
- US Court of Appeals, Seventh Circuit
- US District Court, Middle District of Florida
- US District Court, Southern District of Florida
- US District Court, Central District of Illinois
- US District Court, Northern District of Illinois
- US Bankruptcy Court, Central District of Illinois
- US Bankruptcy Court, Northern District of Illinois
- US Bankruptcy Court, Middle District of Florida
- US Bankruptcy Court, Southern District of Florida
Related Services
- Loan workouts/restructurings (pre-negotiation agreements, default/reservation of rights letters, forbearance agreements, loan modifications, deed-in-lieu agreements, and note sales) involving permanent, bridge, and construction loans secured by real property types including office, retail, mixed used, industrial, and assisted living facilities.
- Represent institutional investor, family office, and other real property owners in chapter 11 bankruptcies cases commenced by tenants with respect to executory leases in retail, office, industrial, and warehouse properties.
- Experience representing purchasers in bankruptcy, UCC Article 9, and assignment for the benefit of creditors auction sales involving commercial leases, real and personal property.
- Negotiation and litigation of assumption, rejection, and assignment of executory contracts for manufacturers and service providers in industries including healthcare and technology.
- Represent bridge lender in federal court case with respect to appointment of receiver, foreclosure, and sale of Illinois-based senior memory care facility.
- Prevailed in three-day remote chapter 11 confirmation trial by defeating debtor’s proposed plan of reorganization on behalf of unsecured creditor.
- Confirmed chapter 11 small business plan of reorganization on behalf of debtor in remote proceedings during COVID-19 Pandemic.
- Experience litigating bankruptcy withdrawal liability claims on behalf of pension and benefit funds.
- Represented federal court receiver with respect to the liquidation of commercial printing company including sale of real property and equipment.
- Represented chapter 11 bankruptcy trustee with respect to operation and reorganization of commercial real estate holding company with ownership interests in more than 40 non-debtor entities holding title to more than 70 parcels of real property. Assisted in sale of 25 parcels of real property raising over $27 million in sale proceeds and over $70 million in claims reductions resulting in confirmation of bankruptcy plan and full payment of creditors’ claims with interest.
- Represented chapter 7 bankruptcy trustee in wind-down of Ponzi scheme involving technology company with more than $100 million in claims. Assisted in obtaining recoveries in excess of $80 million through prosecution and settlement of fraudulent transfer and breach of fiduciary duty actions and the sale of assets.
- Successfully obtained appointment of chapter 11 trustee and negotiated favorable settlement involving disputed income tax refunds on behalf of national bank in individual chapter 11 case involving over $100 million in real estate-related guaranty claims.
- Represented petitioning creditors in involuntary chapter 7 bankruptcy proceeding against defunct regional grocery store chain which resulted in entry of order for relief and commencement of chapter 7 bankruptcy case.
- Represented national bank in $26 million single asset real estate bankruptcy. Prevailed in objecting to confirmation of debtor’s chapter 11 plan following two-day trial; later obtained confirmation of joint chapter 11 plan of liquidation with debtor, and entry of order recharacterizing $17.5 million insider claim as equity and successfully defended appeal to the Seventh Circuit Court of Appeals regarding same.
- Represented chapter 7 trustee in wind-down of operating logistics and warehouse company, liquidation of inventory and personal property, and sale of underlying real property.
- Represented national insurance company in a chapter 11 asbestos bankruptcy case involving contested plan confirmation, which resulted in multimillion dollar settlement agreement.
- Obtained confirmation of joint chapter 11 plan of liquidation involving sale of real property in $40 million single asset real estate bankruptcy on behalf of commercial mortgage lender.
Related News & Insights
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220 Seyfarth Attorneys Chosen as Leaders in Their Fields by Best Lawyers in America 2025
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09/15/2023
Cross-Office Trade Secrets Litigation Team Secures $40 Million Settlement for Karma Automotive
- Listed in Best Lawyers in America (Woodward/White Inc.) for Litigation - Bankruptcy (2014-2024); Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (2024-2025)
- AV Preeminent, Martindale-Hubbell Peer Review (2014-2023)
- Co-lead of Seyfarth’s Distressed Situations team
- American Bankruptcy Institute
- Bankruptcy Court Liaison Committee, Northern District of Illinois (co-chair, 2016-2017; committee member 2015-2017)
- Chicago Bar Association Director, Young Lawyers Section (co-chair, 2011-2013; Young Lawyers Section Bankruptcy Committee, 2008-2011)
- National Conference of Bankruptcy Judges Next Generation Program (2011)
- Co-Author, "Bankruptcy," 2024 Commercial Litigation Outlook, Seyfarth Shaw LLP (February 2024)
- Author, "Recent Second Circuit decision holds that conducting foreclosure sale upon property after tenant files for bankruptcy violated automatic stay," International Law Office (November 11, 2022)
- Co-Author, "As A Matter Of First Impression, The Seventh Circuit Holds That Chapter 13 Debtors Cannot Obtain In Forma Pauperis Filing Fee Waivers Absent 'Extraordinary Circumstances'," Legal Update, Seyfarth Shaw LLP (July 7, 2020)
- Co-Author, “Transaction Insurance Now Being Used For Asset Sales Under Bankruptcy Code Section 363” Transaction Advisors (June 2020)
- Co-Author, "Distressed Company M&A in the Time of COVID-19: Benefits and Risks of Section 363 Sales," ABA Business Law Today (May 27, 2020)
-
Co-Author, "How An M&A Tool Can Benefit Bankruptcy Sales," Law360 (May 7, 2020)
- Co-Author, "Bankruptcy is Not a 'Get Out of Jail Free' Card: Enforcing Trade Secret Rights and Restrictive Covenants Against Financially Troubled Wrongdoers," Trading Secrets, Seyfarth Shaw LLP (April 17, 2020)
- Co-Author, "Bankruptcy Courts: Open for Business," Legal Update, Seyfarth Shaw LLP (March 27, 2020)
- Co-Author, "COVID-19 Business Stimulus Funding Update: Small Businesses, Large Businesses, Mid-Size Businesses, Nonprofits, and Tax Provisions," Legal Update, Seyfarth Shaw LLP (March 26, 2020)
- Co-Author, "How Sports Authority’s Bankruptcy Filing Impacts Landlords and Trade Creditors, and Creates Opportunities for Retailers," One Minute Memo, Seyfarth Shaw LLP (March 3, 2016)
- Co-Author, "Recharacterization: The Debate," The Bankruptcy Strategist (November 2013)
- Co-Author, "Seventh Circuit mandates an “auction process” in “new value” Chapter 11 plans," Management Alert, Seyfarth Shaw LLP (July 31, 2013)
- Co-Author, "Bankruptcy Court Applies Third Circuit test for addressing 'debt' versus 'equity' question." One Minute Memo, Seyfarth Shaw LLP (July 25, 2013)
- "U.S. Supreme Court Resolves Circuit Split In Favor Of Secured Lenders’ Credit-Bid Rights In Chapter 11 Bankruptcy Cases," One Minute Memo, Seyfarth Shaw LLP (June 4, 2012)
- Co-Author, "Not All Retirement Plans Are Created Equal - ERISA Top-Hat Plans Constitute Property of the Bankruptcy Estate," American Bankruptcy Institute Journal (September 2011)
- Co-Author, "Seventh Circuit Upholds Secured Lenders’ Credit-Bid Rights In Chapter 11 Bankruptcy," One Minute Memo, Seyfarth Shaw LLP (July 15, 2011)
- Co-Author, "Lenders’ Right to Credit Bid Tested Before 7th Circuit," The National Law Journal (November 29, 2010)
- Co-Speaker, "The Property Line: Feeling Distressed? It’s Time to Work it Out," Podcast, Seyfarth Shaw LLP (August 29, 2023)
- Co-Speaker, "The Property Line: Redefining Troubled Waters - Navigating Distressed Loans in Today's Market," Podcast, Seyfarth Shaw LLP (July 24, 2023)
- Speaker, "The Property Line: Lending in a Time of Polycrisis," Podcast, Seyfarth Shaw LLP (February 6, 2023)
- Panelist, "Commercial/Multifamily: Market Distress and Loan Workouts," MBA Webinar (February 24, 2021)
- Co-Presenter, "COVID-19 Era M&A: State of the Market and Roadmap for 363 Sales," Webinar, Seyfarth Shaw LLP (August 18, 2020)
- Panelist, "Distressed M&A: Dealmaking in the New Normal," Deal Lawyers Webinar (July 28, 2020)
- Panelist, “How Reps and Warranties Insurance Can Benefit Bankruptcy Sales” Webinar, ExecuSummit (June 4, 2020)
- Co-Presenter, "COVID-19 and Commercial Mortgage Loans: Lender/Servicer and Borrower/Guarantor Perspectives and Insights," Webinar, Seyfarth Shaw LLP (March 31, 2020); Webinar Recording
- "Hot Legal Issues Impacting Loan Servicing," Trigild Fall Lender Conference, San Diego, CA (October 19, 2017)
- “Section 546(e): Rough Waters in the Safe Harbor,” Chicago Bar Association Bankruptcy & Reorganization Committee (November 17, 2016)
- “Non-Consolidation Opinions in Real Estate Transactions” Webinar, presented by Seyfarth Shaw LLP (April 26, 2016)
- “Bankruptcy Basics from the Experts - 2016: The Creditor’s Perspective - How to Maximize Recoveries” Illinois State Bar Association (April 14, 2016)
- “Acquisitions of Distressed Businesses” Webinar, presented by Seyfarth Shaw LLP (October 27, 2015)
- “Professional Ethics in Bankruptcy” Chicago Bar Association Young Lawyers Section Joint Bankruptcy & Professional Responsibility Committee Meeting (April 18, 2014)
- “Commercial Real Estate in Distress” Chicago Bar Association Young Lawyers Section Bankruptcy Seminar (October 7, 2010)
- “Mortgage Fraud,” presented by the Office of the United States Trustee, Chicago Bar Association Young Lawyers Section Bankruptcy Committee Meeting (2008)
- Friends of Pulaski (officer and director, 2012-2016)
James partners with clients to navigate the challenges and opportunities posed by financially distressed situations and bankruptcy.
More About James
James helps a wide variety of clients with bankruptcy, creditors’ rights, and real estate workouts and enforcement issues by understanding their businesses, identifying their short-term and long-term objectives, and partnering with clients to formulate legal and business solutions to best achieve those objectives. He also minimizes risk by providing advice on non-distressed legal transactions and operational matters.
Over the past decade, James has developed a broad understanding of bankruptcy and creditor rights laws through his representation of commercial mortgage lenders, asset purchasers, unsecured creditors, trustees, receivers, borrowers, and debtors. This breadth and depth of client engagement provides James with a unique insight into the business challenges and opportunities posed by bankruptcy and financial distress, and permits him to devise unique solutions that obtain favorable results for his clients.
James is co-lead of Seyfarth’s Distressed Situations team and enjoys partnering with Seyfarth's legal experts in virtually every area of law to formulate creative, practical, and pragmatic solutions to his clients' most complex legal and business challenges. He began his legal career in the US Department of Justice working as a trial attorney for the US Trustee’s Office in Chicago, IL and Miami, FL.
Over the past decade, James has developed a broad understanding of bankruptcy and creditor rights laws through his representation of commercial mortgage lenders, asset purchasers, unsecured creditors, trustees, receivers, borrowers, and debtors. This breadth and depth of client engagement provides James with a unique insight into the business challenges and opportunities posed by bankruptcy and financial distress, and permits him to devise unique solutions that obtain favorable results for his clients.
James is co-lead of Seyfarth’s Distressed Situations team and enjoys partnering with Seyfarth's legal experts in virtually every area of law to formulate creative, practical, and pragmatic solutions to his clients' most complex legal and business challenges. He began his legal career in the US Department of Justice working as a trial attorney for the US Trustee’s Office in Chicago, IL and Miami, FL.
- JD, University of Arizona College of Law
- BA, University of Illinois - Chicago
College Honors
- Florida
- Illinois
- US Supreme Court
- US Court of Appeals, Fifth Circuit
- US Court of Appeals, Seventh Circuit
- US District Court, Middle District of Florida
- US District Court, Southern District of Florida
- US District Court, Central District of Illinois
- US District Court, Northern District of Illinois
- US Bankruptcy Court, Central District of Illinois
- US Bankruptcy Court, Northern District of Illinois
- US Bankruptcy Court, Middle District of Florida
- US Bankruptcy Court, Southern District of Florida
Related Services
- Loan workouts/restructurings (pre-negotiation agreements, default/reservation of rights letters, forbearance agreements, loan modifications, deed-in-lieu agreements, and note sales) involving permanent, bridge, and construction loans secured by real property types including office, retail, mixed used, industrial, and assisted living facilities.
- Represent institutional investor, family office, and other real property owners in chapter 11 bankruptcies cases commenced by tenants with respect to executory leases in retail, office, industrial, and warehouse properties.
- Experience representing purchasers in bankruptcy, UCC Article 9, and assignment for the benefit of creditors auction sales involving commercial leases, real and personal property.
- Negotiation and litigation of assumption, rejection, and assignment of executory contracts for manufacturers and service providers in industries including healthcare and technology.
- Represent bridge lender in federal court case with respect to appointment of receiver, foreclosure, and sale of Illinois-based senior memory care facility.
- Prevailed in three-day remote chapter 11 confirmation trial by defeating debtor’s proposed plan of reorganization on behalf of unsecured creditor.
- Confirmed chapter 11 small business plan of reorganization on behalf of debtor in remote proceedings during COVID-19 Pandemic.
- Experience litigating bankruptcy withdrawal liability claims on behalf of pension and benefit funds.
- Represented federal court receiver with respect to the liquidation of commercial printing company including sale of real property and equipment.
- Represented chapter 11 bankruptcy trustee with respect to operation and reorganization of commercial real estate holding company with ownership interests in more than 40 non-debtor entities holding title to more than 70 parcels of real property. Assisted in sale of 25 parcels of real property raising over $27 million in sale proceeds and over $70 million in claims reductions resulting in confirmation of bankruptcy plan and full payment of creditors’ claims with interest.
- Represented chapter 7 bankruptcy trustee in wind-down of Ponzi scheme involving technology company with more than $100 million in claims. Assisted in obtaining recoveries in excess of $80 million through prosecution and settlement of fraudulent transfer and breach of fiduciary duty actions and the sale of assets.
- Successfully obtained appointment of chapter 11 trustee and negotiated favorable settlement involving disputed income tax refunds on behalf of national bank in individual chapter 11 case involving over $100 million in real estate-related guaranty claims.
- Represented petitioning creditors in involuntary chapter 7 bankruptcy proceeding against defunct regional grocery store chain which resulted in entry of order for relief and commencement of chapter 7 bankruptcy case.
- Represented national bank in $26 million single asset real estate bankruptcy. Prevailed in objecting to confirmation of debtor’s chapter 11 plan following two-day trial; later obtained confirmation of joint chapter 11 plan of liquidation with debtor, and entry of order recharacterizing $17.5 million insider claim as equity and successfully defended appeal to the Seventh Circuit Court of Appeals regarding same.
- Represented chapter 7 trustee in wind-down of operating logistics and warehouse company, liquidation of inventory and personal property, and sale of underlying real property.
- Represented national insurance company in a chapter 11 asbestos bankruptcy case involving contested plan confirmation, which resulted in multimillion dollar settlement agreement.
- Obtained confirmation of joint chapter 11 plan of liquidation involving sale of real property in $40 million single asset real estate bankruptcy on behalf of commercial mortgage lender.
Related News & Insights
-
Sponsored Events
Oct 9, 2024
Seyfarth to Sponsor and Jason DeJonker to Speak at Trigild's Fall Lender Conference
-
Firm News
08/15/2024
220 Seyfarth Attorneys Chosen as Leaders in Their Fields by Best Lawyers in America 2025
-
Legal Update
Feb 15, 2024
Now Available! 2024 Commercial Litigation Outlook
-
Firm News
09/15/2023
Cross-Office Trade Secrets Litigation Team Secures $40 Million Settlement for Karma Automotive
- Listed in Best Lawyers in America (Woodward/White Inc.) for Litigation - Bankruptcy (2014-2024); Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (2024-2025)
- AV Preeminent, Martindale-Hubbell Peer Review (2014-2023)
- Co-lead of Seyfarth’s Distressed Situations team
- American Bankruptcy Institute
- Bankruptcy Court Liaison Committee, Northern District of Illinois (co-chair, 2016-2017; committee member 2015-2017)
- Chicago Bar Association Director, Young Lawyers Section (co-chair, 2011-2013; Young Lawyers Section Bankruptcy Committee, 2008-2011)
- National Conference of Bankruptcy Judges Next Generation Program (2011)
- Co-Author, "Bankruptcy," 2024 Commercial Litigation Outlook, Seyfarth Shaw LLP (February 2024)
- Author, "Recent Second Circuit decision holds that conducting foreclosure sale upon property after tenant files for bankruptcy violated automatic stay," International Law Office (November 11, 2022)
- Co-Author, "As A Matter Of First Impression, The Seventh Circuit Holds That Chapter 13 Debtors Cannot Obtain In Forma Pauperis Filing Fee Waivers Absent 'Extraordinary Circumstances'," Legal Update, Seyfarth Shaw LLP (July 7, 2020)
- Co-Author, “Transaction Insurance Now Being Used For Asset Sales Under Bankruptcy Code Section 363” Transaction Advisors (June 2020)
- Co-Author, "Distressed Company M&A in the Time of COVID-19: Benefits and Risks of Section 363 Sales," ABA Business Law Today (May 27, 2020)
-
Co-Author, "How An M&A Tool Can Benefit Bankruptcy Sales," Law360 (May 7, 2020)
- Co-Author, "Bankruptcy is Not a 'Get Out of Jail Free' Card: Enforcing Trade Secret Rights and Restrictive Covenants Against Financially Troubled Wrongdoers," Trading Secrets, Seyfarth Shaw LLP (April 17, 2020)
- Co-Author, "Bankruptcy Courts: Open for Business," Legal Update, Seyfarth Shaw LLP (March 27, 2020)
- Co-Author, "COVID-19 Business Stimulus Funding Update: Small Businesses, Large Businesses, Mid-Size Businesses, Nonprofits, and Tax Provisions," Legal Update, Seyfarth Shaw LLP (March 26, 2020)
- Co-Author, "How Sports Authority’s Bankruptcy Filing Impacts Landlords and Trade Creditors, and Creates Opportunities for Retailers," One Minute Memo, Seyfarth Shaw LLP (March 3, 2016)
- Co-Author, "Recharacterization: The Debate," The Bankruptcy Strategist (November 2013)
- Co-Author, "Seventh Circuit mandates an “auction process” in “new value” Chapter 11 plans," Management Alert, Seyfarth Shaw LLP (July 31, 2013)
- Co-Author, "Bankruptcy Court Applies Third Circuit test for addressing 'debt' versus 'equity' question." One Minute Memo, Seyfarth Shaw LLP (July 25, 2013)
- "U.S. Supreme Court Resolves Circuit Split In Favor Of Secured Lenders’ Credit-Bid Rights In Chapter 11 Bankruptcy Cases," One Minute Memo, Seyfarth Shaw LLP (June 4, 2012)
- Co-Author, "Not All Retirement Plans Are Created Equal - ERISA Top-Hat Plans Constitute Property of the Bankruptcy Estate," American Bankruptcy Institute Journal (September 2011)
- Co-Author, "Seventh Circuit Upholds Secured Lenders’ Credit-Bid Rights In Chapter 11 Bankruptcy," One Minute Memo, Seyfarth Shaw LLP (July 15, 2011)
- Co-Author, "Lenders’ Right to Credit Bid Tested Before 7th Circuit," The National Law Journal (November 29, 2010)
- Co-Speaker, "The Property Line: Feeling Distressed? It’s Time to Work it Out," Podcast, Seyfarth Shaw LLP (August 29, 2023)
- Co-Speaker, "The Property Line: Redefining Troubled Waters - Navigating Distressed Loans in Today's Market," Podcast, Seyfarth Shaw LLP (July 24, 2023)
- Speaker, "The Property Line: Lending in a Time of Polycrisis," Podcast, Seyfarth Shaw LLP (February 6, 2023)
- Panelist, "Commercial/Multifamily: Market Distress and Loan Workouts," MBA Webinar (February 24, 2021)
- Co-Presenter, "COVID-19 Era M&A: State of the Market and Roadmap for 363 Sales," Webinar, Seyfarth Shaw LLP (August 18, 2020)
- Panelist, "Distressed M&A: Dealmaking in the New Normal," Deal Lawyers Webinar (July 28, 2020)
- Panelist, “How Reps and Warranties Insurance Can Benefit Bankruptcy Sales” Webinar, ExecuSummit (June 4, 2020)
- Co-Presenter, "COVID-19 and Commercial Mortgage Loans: Lender/Servicer and Borrower/Guarantor Perspectives and Insights," Webinar, Seyfarth Shaw LLP (March 31, 2020); Webinar Recording
- "Hot Legal Issues Impacting Loan Servicing," Trigild Fall Lender Conference, San Diego, CA (October 19, 2017)
- “Section 546(e): Rough Waters in the Safe Harbor,” Chicago Bar Association Bankruptcy & Reorganization Committee (November 17, 2016)
- “Non-Consolidation Opinions in Real Estate Transactions” Webinar, presented by Seyfarth Shaw LLP (April 26, 2016)
- “Bankruptcy Basics from the Experts - 2016: The Creditor’s Perspective - How to Maximize Recoveries” Illinois State Bar Association (April 14, 2016)
- “Acquisitions of Distressed Businesses” Webinar, presented by Seyfarth Shaw LLP (October 27, 2015)
- “Professional Ethics in Bankruptcy” Chicago Bar Association Young Lawyers Section Joint Bankruptcy & Professional Responsibility Committee Meeting (April 18, 2014)
- “Commercial Real Estate in Distress” Chicago Bar Association Young Lawyers Section Bankruptcy Seminar (October 7, 2010)
- “Mortgage Fraud,” presented by the Office of the United States Trustee, Chicago Bar Association Young Lawyers Section Bankruptcy Committee Meeting (2008)
- Friends of Pulaski (officer and director, 2012-2016)