• Pennsylvania
  • New York


  • American Bankruptcy Institute
  • American College of Bankruptcy
  • International Insolvency Institute
  • National Bankruptcy Conference


  • Temple University Beasley School of Law, LLB
  • Temple University, BS
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Raymond L. Shapiro

Senior Counsel

Philadelphia, PA v. +1.215.569.5569 f. +1.215.832.5569

Raymond Shapiro primarily represents institutional lenders and lender syndicates, creditors and creditors’ committees, debtors, plan-of-reorganization proponents, and asset purchasers. He regularly advises corporations in areas such as:

  • bankruptcies and creditors’ rights
  • reorganizations and workouts
  • loan and debt restructuring
  • debtor-in-possession financing
  • intercreditor relationships

   One of the most respected figures in the Pennsylvania bankruptcy arena.
—Chambers USA

Mr. Shapiro is recognized nationally for his work in bankruptcy and creditor-debtor rights. He is ranked as a senior statesmen by Chambers USA, which describes him as “an icon of the Bar” and “one of the most respected figures in the Pennsylvania bankruptcy arena.Chambers also calls him “a true statesman.”

He also co-authored two books for Pennsylvania lawyers and was a contributing author of the Business Workouts Manual.


  • Adelphia Communications, as counsel to bank lender.
  • USGen New England, Inc., as counsel to debtor in successful reorganization of large electric wholesale generator, providing 100% plus interest recovery to creditors and significant return to equity.
  • Southern States Cooperative, as counsel to agent for bank group for consensual restructuring of $1.3 billion agricultural cooperative, reducing balance sheet liabilities by $500 million. This out-of-court restructuring was recognized as the 2005 Turnaround Management Association’s “Mega Company Turnaround.”
  • Counsel to creditors’ committee in reorganization of plastic and wood product manufacturer.
  • Reliance Insurance Company, as counsel to state liquidator of insurance company in holding-company Chapter 11 and state liquidation proceedings.
  • Nonprofit electric generation cooperative and major institutional lender in a massive Chapter 11 utility reorganization.
  • Counsel to debtor in retail chain of men’s clothing stores.
  • Comdisco, as counsel to purchaser of significant assets.
  • LTV Corporation (I), as counsel to parent-company creditors’ committee in Chapter 11 case of steel and aerospace conglomerate.
  • Barneys Inc., as plan mediator in successful Chapter 11 reorganization of high fashion retailer.


Mr. Shapiro is an elected member of the National Bankruptcy Conference and the American College of Bankruptcy. He has served as chair of the American College of Bankruptcy and the American College of Bankruptcy Foundation. He was the recipient of the Distinguished Service Award from the American College of Bankruptcy. He has also served as the treasurer and vice president of the Jewish Federation of Greater Philadelphia and as president of the Jewish Publishing Group.


  • Bankruptcy/Restructuring Law, listed in Chambers USA
  • 1983–2018, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation – Bankruptcy in Philadelphia, listed in Best Lawyers in America©
  • 2017, listed in Who’s Who Legal – Restructuring & Insolvency
  • 2004–2017, “Pennsylvania Super Lawyer” in Bankruptcy, listed in Super Lawyers
  • 2012, listed in “The International Who’s Who of Insolvency & Restructuring Lawyers” by Who's Who Legal

A description of the standard or methodology on which the accolades are based can be found here.