James Sprayregen leaves Kirkland for Paul Weiss restructuring push

Paul Weiss hired James H.M. “Jamie” Sprayregen on June 25 to co-head its Restructuring & Debt Capital Solutions practice, pulling one of the best-known names in U.S. bankruptcy law into a firm that is pushing harder for top-tier distressed work. Sprayregen will serve alongside Brian S. Hermann and Andrew N. Rosenberg, while Paul Basta, a co-head of the practice and a Paul Weiss partner since 2017, plans to step down at year-end as part of a long-term succession plan.

The move matters because Sprayregen is closely associated with the modern scale-up of Chapter 11 work on Wall Street. Hilco Global says he founded Kirkland & Ellis’ worldwide restructuring group in 1990, served on Kirkland’s worldwide management committee from 2003 to 2006 and from 2009 to 2019, and later joined Goldman Sachs in 2006 as co-head of its restructuring group before returning to Kirkland three years later. His tenure at Kirkland was tied to major distress matters involving Caesars, Toys R Us and United Airlines, the sort of mandates that can define which firm boards call first when a capital structure breaks.

Paul Weiss said Sprayregen brings more than three decades of experience leading many of the largest and most complex restructurings in history, and will advise domestic and international debtors, as well as creditors and other key stakeholders. Scott A. Barshay, who was appointed chairman effective February 4 after Brad Karp resigned, called him a “superstar lawyer” and said he has been a close business colleague and friend for more than 25 years. Hermann said Sprayregen is often the first call for iconic companies because of his ability to earn the trust of boards and senior executives under extraordinary pressure. Rosenberg said the hire reflects the momentum of the restructuring team and its aim to be a destination for global clients in difficult restructurings.

The lateral is also a sign of how aggressively elite firms are competing for distressed-debt and Chapter 11 business while corporate balance sheets remain under pressure. Paul Weiss has been in a period of rapid partner hiring, with five partners added in June alone, and Barshay’s elevation followed Karp’s exit after he had led the firm since 2008. In that environment, Sprayregen gives Paul Weiss not just another rainmaker, but a marquee brand in a practice where reputation, speed and boardroom credibility can determine who captures the next high-stakes restructuring.