Photo of Joseph R. SgroiPhoto of Joseph R. Sgroi

Joseph R. Sgroi

Partner
Leader, Bankruptcy, Reorganization and Creditor Rights Practice Group

Education

University of Michigan Law School, J.D.
University of Michigan, B.A.
  • Political Science

Bar Admissions

Court Admissions

Professional Affiliations

State Bar of Michigan

  • Business Law Section
  • Creditor/Debtor Rights Committee

American Bar Association

  • Business Law Section
    • Business Bankruptcy Committee
      • Chapter 11 Sub Committee
      • Executory Contract Sub Committee

American Bankruptcy Institute (ABI)

Turnaround Management Association (TMA)

INSOL International

International Insolvency Institute

  • NextGen Member
Overview
Experience
Community
News & Resources
Honors

Overview

Mr. Sgroi is a bankruptcy, restructuring and commercial transactions attorney who deals with corporate financial difficulty and complex supply chain disputes.  In what are often complicated, fast-paced and constantly evolving situations, he finds ways to deliver value by providing creative solutions with the client’s business goals in mind.  Mr. Sgroi represents a wide range of businesses from different industries, including automotive and manufacturing.  He is the leader of the firm’s Bankruptcy, Reorganization and Creditor Rights Practice Group and has extensive experience representing debtors, creditors, creditors’ committees, customers, lenders and equity holders in bankruptcies, financial restructurings, liquidations and out-of-court workouts.  Mr. Sgroi serves as the firm’s Associate Chief Value Partner, where he leads Honigman’s efforts to deliver value to its clients on a consistent basis, including through the implementation of legal project management, process improvement and knowledge management, as well as the use of alternative fee arrangements and value pricing.  He is also a National Football League Players Association Certified Contract Advisor (NFL Agent) and represents athletes and coaches in connection with the various legal issues that they face during their athletic careers and beyond, whether it is contract negotiations, business investments, marketing deals or the selection of other critical professional advisors.

  • Develops strategies for protection of just-in-time supply of component parts produced by non-performing, financially distressed or bankrupt suppliers
  • Negotiates supply agreements, manufacturing agreements, purchase and sale agreements, and purchase order terms and conditions
  • Counsels clients on the acquisition of and investment in troubled companies
  • Assists in the restructuring of troubled companies both inside and outside of bankruptcy
  • Manages the broad range of litigation relating to financial distress, including supply-chain disputes and bankruptcy litigation
  • Secures lending to troubled companies and negotiates workouts of troubled loans
  • Advises boards of directors of financially distressed and insolvent companies
  • Serves as the firm’s Associate Chief Value Partner and formerly served as the firm’s Associate Recruiting and Hiring Partner

Experience

  • Serves as lead counsel to the Official Committee of Unsecured Creditors in the Chapter 11 case of Treetops Acquisition Company, LLC, a golf and ski resort in Northern Michigan
  • Acted as co-lead bankruptcy counsel for Capitol Bancorp Ltd., a bank holding company with a network of banks and bank operations in ten states and total consolidated assets of approximately $2.0 billion, in its Chapter 11 case
  • Acted as co-lead counsel to the Official Committee of Unsecured Creditors in the Chapter 11 case of ISR Group, Incorporated, a company providing a broad range of services in the unmanned vehicle systems (drone) industry
  • Represented General Motors in the automotive supplier bankruptcies of A123 Systems, Inc., Fisker Automotive Holdings, Inc., Visteon Corporation, Intermet Corporation, Cadence Innovation LLC, PPI Holdings, Inc., and Progressive Molded Products Inc., among others
  • Represented General Motors Corporation in its historic Chapter 11 case regarding various supply-chain issues, including the formation of an on-site supplier rapid response team.  After court approval of the Section 363 asset sale to General Motors LLC, represented New GM in connection with hundreds of contract assumption and assignment objections, other supply chain issues and supplier litigation, and issues related to the establishment of the asbestos trusts   
  • Represented private equity firms with respect to various acquisitions through Section 363 bankruptcy sales, assignments for the benefit of creditors, receiverships and Article 9 foreclosure sales
  • Represented General Motors in the automotive dealership bankruptcy of Bill Heard Enterprises, Inc., including successfully litigating various issues with GMAC, LLC; In the Matter of Bill Heard Enterprises, Inc., et al., 2009 Bankr. LEXIS 394 (Bankr. N.D. Ala. February 12, 2009)

Community

Pro Bono

  • Pro bono counsel to The Blight Authority, a non-profit organization focused on mass-scale blight removal

News & Resources

News

Press Releases

Publications

Seminars & Events

Honors

  • The Best Lawyers in America, 2012-2017
  • Michigan Lawyers Weekly, recognized as an "Up & Coming Lawyer" for 2014
  • DBusiness, Top Lawyers, 2011 and 2013-2016
  • Michigan Super Lawyers, 2009-2016
    • Recognized as a Rising Star, 2009-2014
  • International Insolvency Institute
    • Inducted into the inaugural NextGen Leadership Program, 2012
  • DBusiness, recognized as one of "30 in their 30s," 2010