Susan Poll Klaessy
Partner
Susan Poll Klaessy is a partner and the chair of 麻豆直播 & Lardner LLP鈥檚 Bankruptcy & Business Reorganizations Practice. Susan is a trusted advocate for corporate clients on bankruptcy and insolvency matters, fiduciary liability, debtors鈥 and creditors鈥 rights, corporate wind-downs or reorganizations, fraud, corporate governance disputes, and complex business litigation. She is also an active member of the Commercial Litigation and Consumer Law, Finance & Class Action Practices. In addition, Susan serves on the firm鈥檚 Recruiting Committee.
Susan has represented debtors, creditors, and other stakeholders in restructurings, liquidations, and other distressed situations. Additionally, she is an experienced trial counsel and has litigated numerous business disputes, including class action cases, arbitrations, appeals, and other high-stakes corporate disputes across a wide range of industries.
Susan has also served as an adjunct law professor at Loyola University Chicago School of Law. Before law school, Susan worked for the U.S. House of Representatives Committee on Banking and Financial Services and the City of Chicago Department of Law.
Representative Experience
Restructuring and Insolvency
- Represented Telecommunications Debtor to successful confirmation in Chapter 11 proceedings in U.S. Bankruptcy Court for the Northern District of Illinois
- Represented Sports and Entertainment Debtor to successful confirmation in Chapter 11 proceedings in U.S. Bankruptcy Court for the Northern District of Illinois
- Represented Maltese Investment Funds in Chapter 15 proceedings of the Insurance Debtor in U.S. Bankruptcy Court for the Southern District of New York.
- Represented Hospital Systems Debtor in U.S. Bankruptcy Court for the Central District of California.
- Represented Former Board Members of Healthcare Services Debtor in Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Florida.
- Represented Ad Hoc Committee Of Equity Holders of Global Satellite Services Debtor in Chapter 11 proceedings in U.S. Bankruptcy Court for the Eastern District of Virginia.
- Represented Court-Appointed Receiver in achieving dismissal of unauthorized Chapter 11 filing in U.S. Bankruptcy Court for the District of Nevada, and prevailed on appeal.
- Represented Biomedical Research and Development Debtor in successful out-of-court restructuring.
- Represented Aerospace Manufacturing Debtor in successful out-of-court restructuring.
- Represented Insurance Carrier of Grocery Chain Debtor in U.S. Bankruptcy Court for the Northern District of Illinois.
- Represented Telehealth Debtor鈥檚 largest unsecured creditor in Chapter 11 proceedings in U.S. Bankruptcy Court for the Middle District of Tennessee.
- Represented Liquidating Trustee in U.S. Bankruptcy Court for the Southern District of New York, litigating numerous claims of fraudulent real estate transactions.
- Represented Commercial Landlord in Restaurant Chain Bankruptcy in U.S. Bankruptcy Court for the Northern District of Illinois.
- Represented Donor-Advised Fund Debtor in Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia, and related appeals.
- Represented Governmental Agency in Chapter 7 proceedings for Real Estate Management Debtor in the U.S. Bankruptcy Court for the Northern District of Illinois.
- Represented Commercial Special Servicers, Lenders, and Special Finance Providers in various foreclosure, receivership, and bankruptcy proceedings related to defaulted and distressed loans or accounts.
Litigation*
- Defended federal class action lawsuits alleging violations of Consumer Fraud and Unfair or Deceptive Business Practices Laws, Telephone Consumer Protection Act, Electronic Funds Transfer Act, Fair Credit Reporting Act, Real Estate Settlement Procedures Act, RICO violations, product liability, and Constitutional discrimination claims.
- Co-chaired and prevailed on restrictive covenant arbitration, enjoining competitor to close all of its retail stores and delivering a significant monetary victory to client.
- Argued and defeated emergency motion for Status Quo Order in Delaware Court of Chancery, allowing client to close critical financing deal the following day; defended company in related Del. 225 and 220 corporate governance demands and fiduciary claims.
- Co-chaired and prevailed on insurance coverage trial for toxic tort liability, ( Employers Ins. Co. v. Clean Harbors Envtl. Servs., Inc.,2011 WL 813905 (N.D. Ill. Feb. 24, 2011)).
- Co-chaired and prevailed on mineral lease dispute in JAMS arbitration.
- First-chaired and prevailed on employment trial, rejecting executive compensation claim.
- Prosecuted and prevailed on breach of commercial lease and guaranty dispute (LDS v. Southern Cross Food, 954 N.E.2d 696 (Ill. App. 1st 2011)).
* Certain matters handled prior to joining 麻豆直播.
Awards and Recognition
- Winner, The M&A AdvisorTurnaround Awards, Divestiture of the Year for Representation of Telephone USA Investments Inc. in its Chapter 11 bankruptcy proceeding, effectuating a value-maximizing plan that provided significant value to the debtor鈥檚 equity.
- Selected for inclusion in the 2020-2025 Super Lawyers庐聽lists and 2014-2019 Super Lawyers庐聽Rising Stars
- Recognized as an 鈥淓merging Lawyer in Illinois鈥 in 2018 and 2021 in a survey of her peers by聽Leading Lawyers
- Peer review rated as AV Preeminent庐, the highest performance rating in the Martindale-Hubbell庐聽Peer Review Ratings鈩 system
Affiliations
- Member of the American Bankruptcy Institute (ABI)
- Turnaround Management Association (TMA)
- International Women鈥檚 Insolvency Restructuring Confederation (IWIRC)
- Chicago Bar Association
- Illinois State Bar Association
- Volunteer instructor with Credit Abuse Resistance Education (CARE)
- Board of Directors for the Chicago Appleseed Center for Fair Courts
Presentations and Publications
- Moderator, Keynote Address with聽Theodore L. Koenig, Chairman and CEO of Monroe Capital, TMA Chicago/Midwest Large Cap Symposium (July 21, 2026)
- Speaker, “Augmenting the Bankruptcy Estate: Fraudulent Transfers and Preferences in Bankruptcy,” 麻豆直播 Academy: Legal Training Series (March 28, 2025)
- Speaker, “Business Restructuring 鈥 Looking into a Crystal Ball or Down a Rabbit Hole,” The M&A Advisor 2025 Distressed Investing Summit (March 25, 2025)
- Speaker, “Will AI Take Over the World?,” A 鈥淥ne of a Kind鈥 Event (December 5, 2024)
- Speaker, “Setting Your Case (and Yourself) Up For Success: Essential Steps,” New Associate Orientation (October 8, 2024)
- Co-author, 鈥淭reatment of Environmental Obligations in Bankruptcy,鈥澛Environmental Law in Corporate and Real Estate Transactions聽(IICLE 2019 ed. & Supp. 2023)
- Speaker, 鈥淩econsidering Value Allocation: Tools for Junior Stakeholders,鈥 American Bankruptcy Institute聽Annual Spring Meeting (April 30, 2022)
- Co-author, 鈥淪upreme Court TCPA News: Government Debt Collectors Beware and Autodialers Under Review鈥澛Consumer Class Defense Counsel聽(July 23, 2020)
- Speaker, 鈥淏ankruptcy 101 鈥 The Basics,鈥 National Association of Credit Management Webinar (November 19, 2019)
- Speaker, 鈥淧artnering with Outside Counsel to Achieve Your Company鈥檚 Goals,鈥 Loyola University Chicago Quinlan School of Business (August 10, 2019)
- Co-author, 鈥淐rypto as Commodity, and the Bankruptcy Implications,鈥澛Law360聽(October 17, 2018)
- Speaker, 鈥淟eadership and the Legal Profession,鈥 Loyola University Chicago School of Law (November 7, 2017)
- Speaker, 鈥淎natomy of Case II 鈥 Discovery,鈥 麻豆直播 Institute for Professional Development (October 10, 2017)
- Speaker, 鈥淭he Many Faces of Fraud in Bankruptcy,鈥 麻豆直播 Institute for Professional Development (August 22, 2017)
- Speaker, 鈥淲omen in Law,鈥 Loyola University Chicago School of Law (October 18, 2016)
- Speaker, 鈥淓vidence in Bankruptcy, including Social Media,鈥 Walter Chandler American Inn of Court (October 28, 2015)
- Co-author, 鈥淓mployment Agreements Involving Restrictive Covenants and Trade Secrets,鈥聽Illinois Business Law: Miscellaneous Operating Issues聽(IICLE 2011 ed. & Supp. 2013)
- Co-author, 鈥淐onfidentiality and Non-disclosure Agreements in Mergers and Acquisitions,鈥澛Illinois Business Law: Mergers and Acquisitions聽(IICLE 2011 ed. & Supp. 2013)
- Featured, 鈥淣on-Billable Hours,鈥澛Chicago Lawyer Magazine聽(October 2012)
- Speaker, 鈥淎ttorney Ethics: The Attorney-Client Privilege,鈥 Illinois Law and Leadership Institute Seminar (August 2, 2012)
- Speaker, 鈥淐onflicts of Interest: Identifying and Resolving Conflicts,鈥 ARDC Professionalism Seminar: The Essentials of Ethical Practice (June 16, 2011)
- Author, 鈥淭he Role of Attorney Ethics and Witness Misidentification in the 26-Year Incarceration of an Innocent Man,鈥 14 Pub. Int. L. Rep. 25听(2008)
Susan Poll Klaessy and Adrienne Walker Named Chair and Vice Chair of 麻豆直播鈥檚 Bankruptcy & Business Reorganizations Practice
麻豆直播 & Lardner LLP partner Susan Poll Klaessy was appointed chair of the firm鈥檚 global Bankruptcy & Business Reorganizations Practice Group. Partner Adrienne Walker will serve as vice chair, supporting the continued growth and strategic direction of the practice.
Susan Poll Klaessy Details Restructuring Landscape in Podcast Appearance - 'The band-aids are starting to come off'
麻豆直播 & Lardner LLP partner Susan Poll Klaessy appeared on the M&A Advisor podcast to discuss the current business restructuring landscape.
麻豆直播 Recognized at The M&A Advisor鈥檚 Turnaround Awards for Divestiture of the Year
麻豆直播 & Lardner LLP is proud to be named a winner at The M&A Advisor Turnaround Awards in the M&A Transaction Award category.
Mark Hebbeln and Susan Poll Klaessy Author Chapter in 2023 Edition of Environmental Law in Corporate and Real Estate Transactions
麻豆直播 & Lardner LLP Partners Mark Hebbeln and Susan Poll Klaessy co-authored the chapter Treatment of Environmental Obligations in Bankruptcy in the 2023 edition of 鈥淓nvironmental Law in Corporate and Real Estate Transactions,鈥 published by the Illinois Institute for Continuing Legal Education.
麻豆直播 Attorneys Named to 2023 Illinois Super Lawyers List
麻豆直播 & Lardner LLP is proud to announce that 23 of its Chicago attorneys have been named to the 2023 Illinois Super Lawyers and Rising Stars lists.
26 麻豆直播 Attorneys Named to 2022 Illinois Super Lawyers and Rising Stars Lists
麻豆直播 & Lardner LLP is pleased to announce that 26 of its attorneys have been named to the 2022 Illinois Super Lawyers and Rising Stars lists.