Vedder Price

William W. Thorsness

Shareholder

Co-Chair, Insolvency, Bankruptcy & Corporate Reorganization Group

William W. Thorsness is a Shareholder in the Insolvency, Bankruptcy & Corporate Reorganization practice of Vedder Price’s Chicago office.

Mr. Thorsness’s practice focuses on representing clients in all aspects of bankruptcy, restructuring and related proceedings. He has more than 15 years of bankruptcy experience, including in debtor-in-possession financings, cash collateral disputes, adequate protection fights and Section 363 sales, Chapter 11 plan negotiations, and avoidance actions. Mr. Thorsness has also been involved in numerous representations relating to international airline restructurings.

Mr. Thorsness regularly helps businesses find valuable and cost-effective solutions to complex bankruptcy and insolvency-related matters. In this capacity, he primarily assists commercial lenders, finance companies, equipment lessors, and other secured and unsecured creditors in protecting their assets and interests in bankruptcy cases, foreclosures, out-of-court workouts and other insolvency proceedings, as well as through sales under Article 9 of the Uniform Commercial Code. He also represents businesses and private equity firms looking to acquire assets in the distressed marketplace, including through Section 363 bankruptcy sales.

Mr. Thorsness has extensive experience advising lenders and lessors in international airline bankruptcy matters. He is regularly involved in restructurings and reorganizations involving airlines and aircraft, including in the bankruptcy cases of the largest airline companies in Central and South America. Mr. Thorsness has successfully negotiated retention of airline fleets valued at approximately $3.5 billion.

Mr. Thorsness was selected for inclusion in 2010, 2012 to 2017, 2020 and 2021 as an “Illinois Rising Star” by Super Lawyers. In addition, he was selected as an Emerging Lawyer, an affiliate of Leading Lawyers, from 2014 to 2021.

 

William W. Thorsness

Shareholder

Co-Chair, Insolvency, Bankruptcy & Corporate Reorganization Group

Education

  • Loyola University Chicago School of Law, J.D., 2006, cum laude
  • Washington and Lee University, B.A., 2003, magna cum laude

William W. Thorsness

Shareholder

Co-Chair, Insolvency, Bankruptcy & Corporate Reorganization Group

Bar Admissions

  • Illinois, 2006

Court Admissions

  • U.S. District Court, Northern District of Illinois, 2007
  • U.S. Court of Appeals, Seventh Circuit, 2019
  • U.S. Court of Appeals, Second Circuit, 2020

Affiliations

  • Member, Chicago Bar Association
  • Member, American Bar Association

William W. Thorsness

Shareholder

Co-Chair, Insolvency, Bankruptcy & Corporate Reorganization Group

William W. Thorsness

Shareholder

Co-Chair, Insolvency, Bankruptcy & Corporate Reorganization Group

Experience

  • Represents multiple lenders and lessors in international airline restructuring plans, including, most recently, LATAM Airlines, Avianca, Philippine Airlines and Aeromexico resulting in the retention of over 230 aircraft worth approximately $3.5 billion.
  • Represents the Chapter 7 Trustee in the bankruptcy of Central Grocers, once the seventh largest food cooperative in the country.
  • Represents an investment management company in a bankruptcy court proceeding that resulted in a historic $9.5 million contempt award, after a four-day trial, for violation of an injunction contained in a confirmation order.
  • Regularly represents one of the country’s largest private student loan servicers on a national basis in bankruptcy litigation.