He represents a full range of international clients, concentrating in the representation of secured lenders and creditor rights. He also represents borrowers, debtors and trustees. As a bankruptcy litigator, he has tried a wide range of large, sophisticated matters that arise in bankruptcy cases.

Mr. Lipke has a significant representation of financial institutions in structuring, workouts and foreclosures in international equipment and aircraft, railcar and vessels leasing and equipment financing transactions. He has been involved in most airline insolvencies and bankruptcies (including United, Delta, Northwest, American Airlines and Aloha) and has repossessed and foreclosed on aircraft throughout the world.

Mr. Lipke served as an Adjunct Professor of Corporate Bankruptcy Law at Loyola University School of Law in Chicago (1991–2001) and is a frequent lecturer on reorganization, insolvency and bankruptcy issues to varied groups. He also sits on the Bankruptcy Advisory Board for Strafford Publications.

Mr. Lipke was ranked in Chambers USA in the Illinois Bankruptcy/Restructuring category from 2005 to 2021, and was ranked Band 1 in 2015 and 2017. He was selected for inclusion since 2005 in Illinois Super Lawyers and received an "AV Preeminent" Peer Rating in Martindale-Hubbell. Mr. Lipke was selected by his peers for inclusion in The Best Lawyers in America since 2011. He has also been selected by his peers as a Leading Lawyer in Bankruptcy & Workout Law: Commercial since 2013, and in Secured Transactions Law since 2014.

Mr. Lipke was also named the Lawyer of the Year in the ‘Litigation – Bankruptcy’ category by The Best Lawyers in America and U.S. News & World Report in 2022. He has also been selected by his peers for inclusion in The Best Lawyers in America list since 2011.

Mr. Lipke was recognized in the 2011 edition of Best Lawyers in the Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law category; Litigation Bankruptcy.

Mr. Lipke is the co-author of a chapter on issues arising in airline Chapter 11 bankruptcy cases in the Collier Guide to Chapter 11: Key Topics and Selected Industries, a treatise published by LexisNexis Matthew Bender. Mr. Lipke discusses legal issues in airline reorganizations in a LexisNexis Bankruptcy Law Community podcast, which reviews special protections available to creditors of airline equipment and requirements for Bankruptcy Code section 1110 protection, and provides practice tips for counsel representing airline creditors and debtors.