Key facts
- James Sprayregen is moving from Kirkland & Ellis to Paul, Weiss, Rifkind, Wharton & Garrison.
- Sprayregen will co-lead the restructuring and debt capital solutions practice at his new firm.
- He previously founded Kirkland & Ellis' restructuring group and advised companies like Caesars and Toys "R" Us.
- Sprayregen had briefly worked at Goldman Sachs before returning to Kirkland & Ellis.
- Paul Weiss has been actively hiring partners, with five new additions in June.
- Paul Basta will transition out of his co-head role in Paul Weiss' restructuring practice at the end of the year.
James Sprayregen, a highly regarded bankruptcy attorney who spent over three decades establishing and leading Kirkland & Ellis' restructuring practice, is set to join Paul, Weiss, Rifkind, Wharton & Garrison. The firm announced on Thursday that Sprayregen will co-lead its restructuring and debt capital solutions practice.
Sprayregen founded Kirkland & Ellis' restructuring group in 1990, building it into a leading firm for companies undergoing Chapter 11 bankruptcies, advising clients such as Caesars, Toys "R" Us, and United Airlines. He departed Kirkland in 2024 to become vice chairman of global strategy and growth at Hilco Global. Prior to that, he had a three-year stint at Goldman Sachs starting in 2006 before returning to Kirkland.
His move to Paul Weiss is part of a broader strategy by the firm to bolster its partner ranks. Scott Barshay, chairman of Paul Weiss, referred to Sprayregen as a "superstar lawyer" and a longtime friend. The firm has hired five partners in June alone.
Bankruptcy work is a significant revenue generator for large law firms, often requiring extensive legal teams over extended periods. Kirkland's revenue surpassed $10 billion in 2025, marking a 20% increase from the previous year.
In conjunction with Sprayregen's arrival, Paul Basta, who has been a partner at Paul Weiss since 2017 and co-head of its restructuring practice, will step down at the end of the year as part of a succession plan. Basta stated he would assist with the leadership transition.