June 7, 2024
In April, partners from Alvarez & Marsal’s Restructuring and Turnaround Group, including Temple Law alumnus, Ray Dombrowski, visited Temple Law to discuss A&M’s restructuring, bankruptcy, and business turnaround work.
Ray Dombrowski (LAW’79, LLM’82) serves as a Managing Director in A&M’s Restructuring and Turnaround Group, leveraging 23 years of experience at the firm. After graduating from Temple Law, Dombrowski joined Schnader, Harrison, Segal, & Lewis in Philadelphia as a tax associate. Prior to joining A&M, Dombrowski held senior executive roles at Bell Atlantic, overseeing significant financial operations, including its $10 billion leasing, finance, and estate businesses. At A&M, he revitalizes distressed businesses, often involving challenging decisions, and does so by fostering trust through prioritizing understanding of the individuals within these organizations. Dombrowski noted that when he steps into a distressed business, his first move is to find its treasurer and ask how much cash there is on hand. Then, he asks when payroll is and whether there’s enough cash to cover it.
Erin McKeighan, another Managing Director in the Restructuring and Turnaround group, co-leads A&M’s Case Management Services group, specializing in Chapter 11 strategy and planning, case administration, and information management. Prior to joining A&M, McKeighan was a Senior Consultant at FTI Consulting. As co-lead of A&M’s Case Management Services Group, McKeighan spends much of her time guiding businesses through the Chapter 11 process.
Dombrowski and McKeighan hinted at the delicacy of entering a distressed business and communicating with the company’s management and staff. Both recount frequent questions about who they are and what they are doing. They noted that the tone of the engagement is largely set by who brought them in, with the company itself hiring them being the best-case scenario. Dombrowski emphasized the importance of treating the employees with respect to establish trust, while also maintaining boundaries to ensure progress.
Fleur de Jong is a Class of 2024 graduate of Temple University Beasley School of Law.