Photo of Joseph R. SgroiPhoto of Joseph R. Sgroi

Joseph R. Sgroi

Partner
Leader, Bankruptcy, Reorganization, and Creditor Rights Practice Group
Member, Board of Directors

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

Turnaround Management Association

INSOL International

International Insolvency Institute

  • NextGen Member
Overview
Experience
Community
News & Resources
Honors

Overview

Joe Sgroi is a restructuring, bankruptcy, 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. Joe represents a wide range of businesses from different industries, including automotive and manufacturing.

Joe 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.

Joe has particular experience representing U.S. and non-U.S. based original equipment manufacturers (OEMs), Tier 1 and 2 suppliers, and automotive startups in a wide range of areas, including business arrangements related to the development and implementation of autonomous vehicle technologies.

Joe is a member of the firm's Board of Directors and also serves as one of the firm’s Chief Value Partners, 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.

  • Develops strategies for protection of just-in-time supply of component parts produced by nonperforming, 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 a member of the firm's Board of Directors
  • Serves as one of the firm’s Chief Value Partners and formerly served as the firm’s Associate Recruiting and Hiring Partner

Experience

  • Served as lead counsel to General Motors in connection with the global insolvency proceedings and restructuring of Takata Corporation, including the Chapter 11 cases of TK Holdings, Inc. and its debtor affiliates, the Chapter 15 cases of Takata Corporation and its foreign-debtor affiliates, and the sale of substantially all of Takata's assets to Key Safety Systems
  • Acted as lead counsel to General Motors in the Chapter 11 cases of Clark-Cutler-McDermott Company and its debtor affiliates, including in significant litigation brought by the Debtors and the Creditors' Committee
  • Served 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 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 nonprofit organization focused on mass-scale blight removal

News & Resources

News

Press Releases

Publications

Seminars & Events

Honors

  • The M&A Advisor: 2017 Turnaround Award Winner
    • Distressed M&A Deal Of The Year (Over $250MM to $500MM)
  • The Best Lawyers in America, 2012-2019
    • Recognized in practice area of Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
  • DBusiness, Top Lawyers, 2011, 2013-2016, and 2018
  • Michigan Super Lawyers, 2015-2017
    • Recognized as a Rising Star, 2009-2014
  • Leading Lawyers Magazine Michigan, 2017
    • Recognized in the practice areas of:
      • Bankruptcy & Workout Law: Commercial
      • Creditor's Rights/Commercial Collections Law
  • Michigan Lawyers Weekly, recognized as an "Up & Coming Lawyer," 2014
  • International Insolvency Institute
    • Inducted into the inaugural NextGen Leadership Program, 2012
  • DBusiness, recognized as one of "30 in their 30s," 2010