James Sprayregen, the lawyer credited with founding Kirkland & Ellis’ restructuring group and building it into a dominant adviser on Chapter 11 cases, is set to join law firm Paul, Weiss, Rifkind, Wharton & Garrison, the firm announced on Thursday.
At Paul Weiss, Sprayregen will serve as co-leader of the firm’s restructuring and debt capital solutions practice. The appointment comes after Sprayregen left Kirkland & Ellis in 2024 to take a role at private investment firm Hilco Global as vice chairman of global strategy and growth.
Sprayregen launched Kirkland’s restructuring practice in 1990 and, over more than three decades, guided its expansion into a top adviser for companies navigating Chapter 11 proceedings. Under his stewardship, Kirkland advised on high-profile restructurings involving companies such as Caesars, the retailer Toys "R" Us, and United Airlines.
Earlier in his career, Sprayregen departed Kirkland in 2006 for a three-year period at Goldman Sachs before returning to the law firm and subsequently retiring. His move to Paul Weiss represents the firm’s latest senior partner hire amid a broader recruiting push following leadership changes earlier this year.
Paul Weiss has been active on the partner front since appointing Scott Barshay as chairman after the resignation of Brad Karp. In June alone, the firm reported adding five partners. Barshay described Sprayregen as a "superstar lawyer" and a longtime friend.
Paul Weiss also said on Thursday that Paul Basta, who became a partner in 2017 and has served as co-head of the firm’s restructuring practice, will step down at the end of the year under a multiyear succession plan. Basta said he will assist with the transition to new leadership.
The importance of bankruptcy and restructuring work to large law firms is reflected in sustained revenue gains across the sector. Kirkland’s revenue in 2025 surpassed the $10 billion mark, representing a roughly 20% increase from the prior year, underscoring the commercial value of extensive Chapter 11 advisory capabilities.
Summary of the change:
- James Sprayregen will join Paul Weiss as co-head of restructuring and debt capital solutions.
- Sprayregen founded Kirkland & Ellis’ restructuring group in 1990 and left the firm in 2024 for Hilco Global.
- Paul Weiss is conducting a series of partner hires under new chairman Scott Barshay; Paul Basta will step down as co-head of restructuring at year-end.