Christopher M. Cahill

Christopher M. Cahill

Head of Bankruptcy and Restructuring Group | 312-628-7193 |

Chris advises businesses on relationships with vendors, customers, and lenders, to maximize market share, return, and liquidity. He also advises young businesses regarding strategic steps in corporation formation, financing, operational improvements and in availing themselves of newer forms of transactional management (e.g., blockchain modes for factoring delivery services; and tokenizing interoperable corporate functions).

Chris’s core practice has been virtually all aspects of chapter 11 cases and corporate restructuring more generally, including workouts, loan forbearance, assignments for the benefit of creditors, UCC Article 9 foreclosure sales, and avoidance litigation. This includes representing purchasers and sellers of distressed assets wherever located, drawing on his international network of market participants and local advisers.

Chris has substantial mega-case chapter 11 experience at national law firms representing very large debtors, and counsels and litigates (including several trials) on behalf of manufacturers, secured lenders, and other parties in interest in large and middle-market bankruptcy cases.

Mr. Cahill also publishes frequently (partial list below) and speaks regularly on commercial insolvency and commercial transaction issues. He is co-author of The Law of Debtors and Creditors (Lawrence Ahern III, William Houston Brown & Christopher M. Cahill), a comprehensive treatise updated annually and published by Thomson Reuters. And, for the past eight years, Cahill served as Executive Editor of Commercial Bankruptcy Litigation, 2d Edition (Jonathan P. Friedland, et al., 2022), a comprehensive treatise updated annually and published by Thomson Reuters. He also co-authored a chapter in the forthcoming edition of Strategic Alternatives for and Against Distressed Businesses (Jonathan Friedland, et al., 2022), which comprehensively analyzes the workings of subchapter V cases under chapter 11 of the Bankruptcy Code.

Chris has hosted 87 podcasts for Financial Poise Radio, in which he interviewed leaders in new modes and new subjects of private investment and entrepreneurship, among other interesting people. Chris has also moderated or appeared as panelist on 82 webinars (list below) covering a wide array of business and legal topics, which include multiple webinar series he created on cryptocurrency, blockchain, and supply chain financing.

Chris has also served as a Board member of Lawyers Lend a Hand to Youth — a non-profit that provides professional-to-student tutoring to disadvantaged Chicago youth and helps fund similar programs — as well as of TUTA Theatre Company and Baroque Band. Chris relaxes by playing softball, hitting at batting cages, and pursuing terpsichorean activities.


Illinois; U.S. District Courts of the Northern District of Illinois, Central District of Illinois, Eastern District of Michigan, and Eastern District of Wisconsin

Sample of Recent Publications:

William Houston Brown, Lawrence R. Ahern III & Christopher M. Cahill, The Law of Debtors and Creditors: Bankruptcy, Security Interests, Collection (rev. ed. 2022) [forthcoming; comprehensive treatise published by Thomson Reuters and updated annually]

Jonathan Friedland, Christopher M. Cahill, Mark Melickian, John (“Jack”) O’Connor, and Hajar Jouglaf, “Subchapter V of Chapter 11: A User’s Guide,” Chapter 4A of Jonathan P. Friedland, et al., Strategic Alternatives For and Against Distressed Businesses (2022) [chapter in comprehensive treatise published by Thomson Reuters and updated annually]

Jonathan P. Friedland, et al., Commercial Bankruptcy Litigation (2d ed. 2022) [Executive Editor from 2014 to 2022 of comprehensive treatise published by Thomson Reuters and updated annually]

Christopher M. Cahill and Lars Peterson, “Litigation Concerning the Use, Sale, or Lease of Estate Property Other Than Cash Collateral,” Chapter 7 of Jonathan P. Friedland, et al., Commercial Bankruptcy Litigation (2d ed. 2022) [contributed annually from 2019 to 2022]

Christopher M. Cahill, Hajar Jouglaf & Jonathan P. Friedland, “Overview,” Chapter 1 of Jonathan P. Friedland, et al., Commercial Bankruptcy Litigation (2d ed. 2022) [ contributed annually from 2014 to 2022]

Jonathan Friedland, Christopher Cahill, Mark Melickian, John (“Jack”) O’Connor, and Hajar Jouglaf, “Subchapter V of Chapter 11: A User’s Guide,” DailyDAC (Oct. 18, 2021)

Christopher M. Cahill, “What Distressed Businesses and Their Counsel Should Know About the Consolidated Appropriations Act of 2021 and Its Effects on the Bankruptcy Code,” DailyDAC (Dec. 29, 2020)

Lars Peterson and Christopher M. Cahill, “Considerations When Selling a Bankruptcy Claim,” DailyDAC (Feb. 12, 2019)

Michael A. Brandess, Christopher M. Cahill & Jonathan P. Friedland, “Does Newspaper Notice Constitute ‘Commercially Reasonable Notice’ in 2016?” 47 Uniform Commercial Code Law Journal 93 (February 2017)

Christopher M. Cahill, “A Creditors Guide for Claims Against Bankrupt Customers: Getting Claims Paid and Preventing Claw-Back of Payments Received,” Commercial Bankruptcy Alternatives (February 28, 2017)

Christopher M. Cahill, “Update on CFIUS National Security Review and the Section 363 Sale: Draper Athena as Stalking Horse for Assets of ATopTech, Inc.,” Commercial Bankruptcy Investor (February 14, 2017)

Christopher M. Cahill, “Platinum Partners: A Ponzi Scheme Hiding in Plain Sight,” Commercial Bankruptcy Investor (January 9, 2017)

Christopher M. Cahill, “Reclamation of Reclamation Claims by the Delaware Bankruptcy Court in In re Reichhold,” Commercial Bankruptcy Litigation (Dec. 19, 2016)

Christopher M. Cahill and Jonathan P. Friedland, “The Myth of the Newspaper Being a Commercially Reasonable Notice,” DailyDAC (August 29, 2016)

Christopher M. Cahill, “Receivers: An Introduction,” Commercial Bankruptcy Alternatives (January 8, 2016)

Christopher M. Cahill and George W. Kuney, “Limiting Credit Bidding for ‘Cause’ Under § 363(k): Contra Philadelphia Newspapers Footnote 14,” 17 Tenn. J. Bus. L. 161 (2015)

Mark A. Silverman and Christopher M. Cahill, “When Her Smile is a Thin Disguise—How to Stop a Lying Judgment Debtor from Obtaining a Bankruptcy Discharge,” Commercial Bankruptcy Alternatives (June 24, 2015)

Christopher M. Cahill, “Stalking Horse Bidder in Section 363 Sales: Benefactor or Predator?” Bankruptcy Strategist (May, 2015)

Christopher M. Cahill, “Radio Shack Bankruptcy Watch,” Commercial Bankruptcy Investor (Sept. 17, 2014 through Jan. 28, 2015) [a series of eight articles chronicling the company’s distress and steps toward its chapter 11 filing]

Christopher M. Cahill, “Yes, Law Firm, You Were JPM’s Agent in Losing $1.5 Billion,” Commercial Bankruptcy Litigation (Jan. 23, 2015)

Christopher M. Cahill, “You Do Not Have to Mean It: Authorizing the Filing of a Mistaken Termination Statement Suffices to End Perfection of the Security Interest,” Commercial Bankruptcy Litigation (Nov. 7, 2014)

Christopher M. Cahill, “What Else Can a Creditors Committee Do? Maybe Reap $1.5 Billion for Unsecured Creditors (Lender Beware),” Commercial Bankruptcy Investor (Oct. 24, 2014)

Christopher M. Cahill, “There Ought to Be a Law, and There Is: When the Insolvent LLC’s Manager Distributes Cash But Does Not Pay Creditors,” DailyDAC (Oct. 3, 2014)

Christopher M. Cahill, “Foreign Buyers of Assets in Section 363 Sales: National Security Review,” Commercial Bankruptcy Investor (Sept. 11, 2014)

Christopher M. Cahill, “How Much Can I Add to My Claim? (says Lender), How Much Liquidity Will I Have? (says Reorganizing Debtor): On the Payment of Post-Petition Interest,” Commercial Bankruptcy Litigation (June 25, 2014)

Christopher M. Cahill, “Not Necessarily Free and Clear! Purchasing Real Property in a Section 363 Sale,” Commercial Bankruptcy Investor (June 4, 2014)

Christopher M. Cahill, “Meridian Sunrise Village: Highlighting Some Risks for Loan-to-Own,” Commercial Bankruptcy Investor (May 7, 2014)

Christopher M. Cahill and Edward E. Neiger, “Adding Defendants to Preference Complaints After Expiration of the Limitations Period: A Guide to Amendment and Relation Back after Krupski v. Costa Crociere,” 23 Norton J. Bankr. L & Pract. 102 (2014)

Christopher M. Cahill, “A Chapter 11 Debtor Need Not be Broke,” Commercial Bankruptcy Alternatives (Feb. 3, 2014)

Christopher M. Cahill, “Some Cautions on Selling Your Claim Against a US Bankruptcy Debtor.” Canada-US Business Council Bulletin (Fall 2012)

Christopher M. Cahill, “Commodity Supply Agreements Are Swap Agreements: A Counter-Intuitive but Quite Real Safe Harbor from Preference Avoidance,” 8 Int’l Corp. Rescue 268 (2011)

PRACTICE NOTES (published in Lexis Practical Advisor, 2017)

  • Make-Whole Premiums in Bankruptcy Cases
  • Understanding Adequate Protection
  • Contractual Provisions to Effectively Forestall a Borrower’s Bankruptcy Case
  • Borrower as a Single Purpose Entity
  • Sale Leaseback of Real Property and Bankruptcy Recharacterization
  • Bankruptcy Risks for Landlords When Tenants Go Bankrupt
  • Bankruptcy Risks for Tenants When Landlords Go Bankrupt
  • Bankruptcy Risks in Subleasing
  • Claims for Attorney’s Fees in Bankruptcy
  • Single Asset Real Estate Status
  • When a Purchaser or Seller of Real Property Goes Bankrupt
  • Bankruptcy Considerations in Owner-Contractor Agreements and Owner-Architect Agreements
  • Bankruptcy Issues in Residential Real Property Transactions


  • “Introduction to Digital Assets,” presented to the Arizona Private Lender Association (Jan. 25, 2022)
  • “Emerging Trends in Enforcement of Intercreditor Agreements in Bankruptcy and Elsewhere,” presented to the Chicago Bar Association (Nov. 12, 2019)
  • “Maximize Value in Your Customer’s Bankruptcy,” presented to the 2017 Credit Professionals Conference and Expo, Milwaukee, Wisconsin
  • “Keep What You Earned From the Claws of the Bankruptcy Trustee,” presented to the 2017 Credit Professionals Conference and Expo, Milwaukee, Wisconsin
  • Plus presentations to bank clients

WEBINARS GIVEN (as moderator or panelist, all with Financial Poise Webinars)

  • Current Trends in Leveraged Finance (Nov. 18, 2021)
  • Navigating Credit Agreements (Oct. 28, 2021)
  • Evolution of Trade Finance Technology (Sept. 23, 2021)
  • Blockchain and Supply Chain (August 19, 2021)
  • Crowdfinance – 101 (July 29, 2021)
  • Blockchain and Smart Contracts (July 22, 2021)
  • Zoning and Land Use 101 (July 8, 2021)
  • Cryptocurrency — 101 (June 24, 2021)
  • Credit insurance 101 (June 3, 2021
  • Immigration Law 101 (May 6, 2021)
  • ESOPS – 101 (April 8, 2021)
  • Digital Assets (Dec. 3, 2020)
  • Making Cash with Cannabis (Nov. 5, 2020)
  • Blockchain Basics (September 8, 2020)
  • Blockchain and Supply Chain (August 20, 2020)
  • Zoning and Land Use (July 30, 2020)
  • Blockchain and Smart Contracts (July 23, 2020)
  • Crowdfinance – 101 (July 9, 2020)
  • Opportunity Amidst Crisis: Saving Companies & Their Owners From Financial Ruin (June 23, 2020)
  • Cryptocurrency — 101 (June 11, 2020)
  • Credit Insurance – 101 (June 4, 2020)
  • Immigration Law – 101 (May 7, 2020
  • Where Did All My Profits Go? Mastering the Concept of Working Capital (April 16, 2020)
  • ESOPs – 101 (April 2, 2020)
  • The KPI — Cash Flow Modeling and Projections (March 19, 2020)
  • How to Read a Balance Sheet – And Why You Care! (Feb. 20, 2020)
  • EBITDA and Other Scary Words (January 23, 2020)
  • Blockchain and Trade Finance Tech (Oct. 18, 2019)
  • Digital Assets (Sept. 26, 2019)
  • Blockchain and Supply Chain (Sept. 20, 2019)
  • Blockchain and Smart Contracts (Aug. 23, 2019)
  • Making Cash with Cannabis (Aug. 22, 2019)
  • Blockchain Basics (July 25, 2019)
  • Crowdfinance – 101 (June 4, 2019)
  • Cryptocurrency – 101 (April 30, 2019)
  • What Every Founder/Entrepreneur Must Know (April 16, 2019)
  • HR 101: Finding, Negotiating With & Retaining Potential Hires (March 19, 2019)
  • Raising Capital: Negotiating with Potential Investors (Feb. 19, 2019)
  • Basic Investment Principles 101 – From Asset Allocation to Zero Coupon Bonds (Jan. 24, 2019)
  • The Very Basics: Forming the Business (Jan. 22, 2019)
  • Anatomy of Preference Litigation (Jan. 15, 2019)
  • Advanced Investing Topics: Unicorns and Pre-Unicorn Scalable Private Company Propositions (Sept. 25, 2018)
  • Legal & Tax Aspects of Investing: Asset Protection, Estate Planning, and Tax Efficiency (August 14, 2018)
  • Goals-Based Investing: Planning for Key Life Events (July 17, 2018)
  • Basic Investment Principles 101 — From Asset Allocation to Zero Coupon Bonds (June 19, 2018)
  • Creditor Boot Camp (May 22, 2018)
  • Purchase Order Finance (March 21, 2018)
  • Credit Insurance – 101 (March 13, 2018)
  • Alternative Assets Part 2: Investing in Real Estate and Other “Hard” Assets (Dec. 12, 2017)
  • Alternative Assets Part 1: Investing in Venture Capital, Private Equity, and Hedge Funds (Nov. 14, 2017)
  • How to Read Financial Statements and Financial Journalism (Oct. 17, 2017)
  • Alpha, Beta & Stock Picking (Sept. 26, 2017)
  • Raising Money for a Start-Up Through Equity Crowdfunding (May 11, 2017)
  • Investing in Real Estate Through Equity Crowdfunding Websites (April 6, 2017)
  • Angel Investing Through Equity Crowdfunding Websites (February 23, 2017)
  • Title III, Regulation A+, and State Crowdfunding Regimes (January 26, 2017)
  • Inside Counsel Insider: Compliance (January 24, 2017)
  • Bankruptcy Valuation Issues: Valuation in the Context of a Fraudulent Transfer or Preference Attack (May 27, 2016)
  • SBA Loans and Other “Special Programs” (Apr. 6, 2016)
  • Alternative Investment Basics Series (May to Dec. 2015) [9 parts]
  • Crash Course: Valuation for Business Transition and Exit Planning (Oct. 2, 2014)
  • How to Get a Bankruptcy Case Dismissed or Converted (July 22, 2014)
  • Anatomy of Preference Litigation (June 11, 2014)
  • Bankruptcy for Fun and Profit: Claims Trading and 363 Sales (May 27, 2014, and Mar. 27, 2015)
  • Basics of Bankruptcy Litigation for the Non-Bankruptcy Specialist (May 20, 2014)
  • Creditor Boot Camp (May 13, 2014)
  • How to Buy Distressed Business Assets Outside of Bankruptcy (May 6, 2014)
  • Everything the GC Should Know About Chapter 11 (April 29, 2014)
  • Strategic Alternatives for Distressed Businesses (April 22, 2014)
  • What Entrepreneurs and Other Business Owners Must Understand About Equity Crowdfunding (March 19, 2014)
  • Equity Crowdfunding: Real Estate Investments (March 5, 2014)
  • Was the Debtor Insolvent? (Dec. 5, 2013)
  • Valuation Fights in Bankruptcy (July 17, 2013)

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