Sidley Recruits DLA Piper U.S. Restructuring Chair Califano (1)

Sidley Austin is rebuilding the top end of its bankruptcy team by adding the former U.S. chair of DLA Piper’s restructuring practice, Tom Califano, as a partner in its New York office.

The hire announced on Tuesday comes about six months after the co-leaders of Sidley’s restructuring practice, Jessice Boelter and Bojan Guzina, departed for White & Case.

For Sidley, the hire could help stabilize its restructuring practice, which has been an important driver of growth for firms since the pandemic tested corporate America’s balance sheets. Levels of distressed debt remain elevated, and bankruptcy watchers anticipate a prolonged period ...