R. Scott Alsterda - Financial Restructuring & Bankruptcy lawyer - Nixon Peabody LLP

R. Scott Alsterda

Scott Alsterda concentrates his practice on counseling and litigation in pursuit of his clients’ business interests and opportunities in financially troubled situations. He also serves as a Chapter 7 trustee in commercial and consumer bankruptcy cases.

What do you focus on?

I focus my practice on a variety of issues including enforcement of contract rights, pursuit of claims and remedies against third parties, defense of claims against my clients and the pursuit of business interests and opportunities in the insolvency arena. My service as a Chapter 7 bankruptcy trustee includes investigating the financial dealings of debtors and liquidating or recovering assets for distributions to creditors.

I represent business entities and individuals in a wide array of insolvency, restructuring, workout and bankruptcy cases. I work with secured lenders, landlords, owners, vendors, buyers, insurance companies, municipalities, creditors’ committees, trustees and debtors. I have been involved in cases in a variety of sectors from commercial lending and real estate to manufacturing and hospitality, among others.

What do you see on the horizon?

I am following closely the mounting financial challenges faced by municipalities, student loan lenders and gaming interests. Anticipating the timing and impact of failures of these interests and developing strategies to reduce the risks to clients is my goal.

Representative Experience

  • Represented a bank holding secured debt against a publishing company through an out of court workout, followed by an assignment for the benefit of creditors and a subsequent Chapter 7 case including the bank’s defense of a fraudulent transfer case instituted by the Chapter 7 trustee.
  • Represented a national hotel chain which owns or manages various facilities in order to enforce the clients’ contractual rights and claims against the counterparties who have filed Chapter 7 or 11 bankruptcy cases.
  • Represented a partnership that owned a large apartment complex in a Chapter 11 reorganization case that involved the resolution of complex financing and sale issues to allow the partnership to successfully emerge from Chapter 11.
  • Represented a leading health care insurer in numerous Chapter 7 and 11 bankruptcy cases filed by its customers throughout the country. The scope of this representation included negotiations for the continuation of health care plans during the bankruptcy case and the successful defense of some very significant preference cases.
  • Represented a private equity fund that owned the land and buildings leased to a manufacturer in the automotive industry as that company went through a Chapter 11 case and a sale of its assets to a new owner.


  • Presenter, “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 Effect on Family Law Issues,” Chicago chapter of American Academy of Matrimonial Lawyers

Blazing grass: Financial restructuring and bankruptcy issues in cannabis

Journal of Bankruptcy Law | March 01, 2022

Chicago Corporate counsel Scott Alsterda contributed this article on the unique challenges that face cannabis companies experiencing financial insolvency and potential non-bankruptcy alternatives available to them.


R. Scott Alsterda



Phone: 312-977-9203

Fax: 844-566-1442

John Marshall Law School, J.D., with Distinction

Bowdoin College, B.A.


U.S. District Court, Northern District of Illinois

U.S. District Court, Central District of Illinois

U.S. District Court, Southern District of Illinois

U.S. Court of Appeals, Seventh Circuit

Supreme Court of Illinois

  • Selected, through peer-review survey, for inclusion in The Best Lawyers in America® 2022 in the fields of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation - Bankruptcy; listed in Best Lawyers since 2020
  • A/V Rated, Martindale-Hubbell
  • Chicago Bar Association
  • Illinois Bar Association
  • American Bar Association
  • Federal Bar Association
  • Commercial Law League of America
  • American Bankruptcy Institute
  • National Association of Bankruptcy Trustees
  • Member, Panel of Bankruptcy Trustees for the Northern District of Illinois
  • Board Member and Treasurer, Nordic Law Club of Chicago
  • Board Member, Chicago Bankruptcy Help Desk Foundation
  • Board Member, Chicago Help Desk Foundation
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