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Thomas J. Salerno

Partner, Squire Sanders

Thomas Salerno is co-chair of Squire Sanders' international financial restructuring practice. He has been involved in restructurings in the United States, the United Kingdom, Germany, France, Switzerland and the Czech and Slovak Republics. In addition, he teaches Comparative International Insolvency at the University of Salzburg. Tom was named as one of 12 Outstanding Bankruptcy Attorneys in 1998 and 2000 by Turnarounds & Workouts, a newsletter published by Beard Group, Inc. in Washington DC, and is a member of the select group of insolvency professionals listed in the K&A Restructuring Professionals Registry. He is also listed in The Best Lawyers in America and was selected by his peers for inclusion in Southwest Super Lawyers, a distinction honoring the top 5 percent of lawyers in the region. In 2009, Tom was selected as Best Lawyers' Phoenix Bankruptcy and Creditor-Debtor Rights Lawyer of the Year and was one of three Arizona-based lawyers to be listed in The International Who's Who of Insolvency & Restructuring Lawyers. He is rated AV by Martindale-Hubbell's rating system.

View Mr. Salerno's martindale.com profile

Tom has extensive experience representing distressed companies, acquirers and creditors in financial restructurings and bankruptcy proceedings, pre- and post-bankruptcy workouts, and corporate recapitalizations. He has represented clients in diverse industries such as casinos, resort hotels, real estate, high-tech manufacturing, electricity generation, agribusiness, construction, health care, airlines and franchised fast-food operations. He has also served as an expert witness on US insolvency law in litigation in Germany.

He has represented parties in insolvency proceedings in 30 states and five countries. Tom headed the US delegation to the Czech Republic in advising the Czech Government in the historic revamping of its bankruptcy law, which took effect in January 2008. He has also advised on revamping insolvency laws in the Dominican Republic and Costa Rica. He is a member of the UNCITRAL working group on its Insolvency Law Reform Project, completed in early 2007.

In addition to numerous articles in both national and international journals, Tom is the author of "An Overview of the Restructuring Process," which appeared in Best Practices for Corporate Restructuring, published in 2006 by Aspatore Books. He is also the co-author of the Executive Guide to Corporate Bankruptcy, originally published in 2001 by Beard Publications (with the Second Edition due in early 2008); co-author and an executive editor of the three-volume treatise Advanced Chapter 11 Bankruptcy Practice, published by Aspen Law Publications; and co-author of the two volume Bankruptcy Litigation and Practice; A Practitioners' Guide - 3rd Edition, also published by Aspen Law Publications.

Tom served as a director of the American Bankruptcy Institute, where he also served on the executive committee, and formerly was a director of the American Bankruptcy Board of Certification, Inc. He is a past chair of the Bankruptcy Section of the State Bar of Arizona and a Fellow of the American College of Bankruptcy.

Representative Experience

  • Restructuring counsel for Snyder's Drug Stores, Inc. involving a nationwide chain of retail drug stores.
  • Restructuring counsel for Unison HealthCare, Inc., an NYSE nationwide owner/operator of nursing homes and assisted living facilities.
  • Restructuring counsel for Rural/Metro Corp., an NYSE owner/operator of emergency fire and ambulance services for counties and municipalities.
  • Restructuring counsel to Industrias Nucleares do Brasil S/A, the Brazilian nuclear regulatory agency, in insolvency proceedings in the United States and Switzerland.


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