Woman with long brown hair wearing a blue blazer and white top, standing in a brightly lit corporate law office, facing the camera and smiling.

Susan Poll Klaessy

Partner

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Susan Poll Klaessy

Partner

[email protected]

Chicago 312.832.5105

Washington, D.C.

Sectors

Practice Areas

Education

Loyola University Chicago School of Law (J.D., cum laude)
- Senior Editor, Public Interest Law Reporter
- Certificate in Trial Advocacy
- Pro Bono Recognition Award
University of Iowa (B.A.)
- Political Science
- Philosophy

Admissions

Illinois
Virginia
District of Columbia
U.S. District Court
- Northern District of Illinois
- Eastern District of Virginia
- Western District of Virginia
- Eastern District of Michigan
- District of Columbia
U.S. Bankruptcy Court
- Northern District of Illinois
- Eastern District of Virginia
- District of Columbia
U.S. Court of Appeals
- Seventh Circuit
- Federal Circuit
U.S. Court of Federal Claims
U.S. Supreme Court

Susan Poll Klaessy is a partner and the chair of Foley & Lardner LLP’s Bankruptcy & Business Reorganizations Practice. Susan is a trusted advocate for corporate clients on bankruptcy and insolvency matters, fiduciary liability, debtors’ and creditors’ rights, corporate wind-downs or reorganizations, fraud, corporate governance disputes, and complex business litigation. She is also an active member of the Commercial Litigation and Consumer Law, Finance & Class Action Practices. In addition, Susan serves on the firm’s Recruiting Committee.

Susan has represented debtors, creditors, and other stakeholders in restructurings, liquidations, and other distressed situations. Additionally, she is an experienced trial counsel and has litigated numerous business disputes, including class action cases, arbitrations, appeals, and other high-stakes corporate disputes across a wide range of industries.

Susan has also served as an adjunct law professor at Loyola University Chicago School of Law. Before law school, Susan worked for the U.S. House of Representatives Committee on Banking and Financial Services and the City of Chicago Department of Law.

Representative Experience

Restructuring and Insolvency

Represented Telecommunications Debtor to successful confirmation in Chapter 11 proceedings in U.S. Bankruptcy Court for the Northern District of Illinois
Represented Sports and Entertainment Debtor to successful confirmation in Chapter 11 proceedings in U.S. Bankruptcy Court for the Northern District of Illinois
Represented Maltese Investment Funds in Chapter 15 proceedings of the Insurance Debtor in U.S. Bankruptcy Court for the Southern District of New York.
Represented Hospital Systems Debtor in U.S. Bankruptcy Court for the Central District of California.
Represented Former Board Members of Healthcare Services Debtor in Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Florida.
Represented Ad Hoc Committee Of Equity Holders of Global Satellite Services Debtor in Chapter 11 proceedings in U.S. Bankruptcy Court for the Eastern District of Virginia.
Represented Court-Appointed Receiver in achieving dismissal of unauthorized Chapter 11 filing in U.S. Bankruptcy Court for the District of Nevada, and prevailed on appeal.
Represented Biomedical Research and Development Debtor in successful out-of-court restructuring.
Represented Aerospace Manufacturing Debtor in successful out-of-court restructuring.
Represented Insurance Carrier of Grocery Chain Debtor in U.S. Bankruptcy Court for the Northern District of Illinois.
Represented Telehealth Debtor’s largest unsecured creditor in Chapter 11 proceedings in U.S. Bankruptcy Court for the Middle District of Tennessee.
Represented Liquidating Trustee in U.S. Bankruptcy Court for the Southern District of New York, litigating numerous claims of fraudulent real estate transactions.
Represented Commercial Landlord in Restaurant Chain Bankruptcy in U.S. Bankruptcy Court for the Northern District of Illinois.
Represented Donor-Advised Fund Debtor in Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia, and related appeals.
Represented Governmental Agency in Chapter 7 proceedings for Real Estate Management Debtor in the U.S. Bankruptcy Court for the Northern District of Illinois.
Represented Commercial Special Servicers, Lenders, and Special Finance Providers in various foreclosure, receivership, and bankruptcy proceedings related to defaulted and distressed loans or accounts.

Litigation*

Defended federal class action lawsuits alleging violations of Consumer Fraud and Unfair or Deceptive Business Practices Laws, Telephone Consumer Protection Act, Electronic Funds Transfer Act, Fair Credit Reporting Act, Real Estate Settlement Procedures Act, RICO violations, product liability, and Constitutional discrimination claims.
Co-chaired and prevailed on restrictive covenant arbitration, enjoining competitor to close all of its retail stores and delivering a significant monetary victory to client.
Argued and defeated emergency motion for Status Quo Order in Delaware Court of Chancery, allowing client to close critical financing deal the following day; defended company in related Del. 225 and 220 corporate governance demands and fiduciary claims.
Co-chaired and prevailed on insurance coverage trial for toxic tort liability, ( Employers Ins. Co. v. Clean Harbors Envtl. Servs., Inc.,2011 WL 813905 (N.D. Ill. Feb. 24, 2011)).
Co-chaired and prevailed on mineral lease dispute in JAMS arbitration.
First-chaired and prevailed on employment trial, rejecting executive compensation claim.
Prosecuted and prevailed on breach of commercial lease and guaranty dispute (LDS v. Southern Cross Food, 954 N.E.2d 696 (Ill. App. 1st 2011)).

* Certain matters handled prior to joining Foley.

Awards and Recognition

Winner, The M&A AdvisorTurnaround Awards, Divestiture of the Year for Representation of Telephone USA Investments Inc. in its Chapter 11 bankruptcy proceeding, effectuating a value-maximizing plan that provided significant value to the debtor’s equity.
Selected for inclusion in the 2020-2025 Super Lawyers^® lists and 2014-2019 Super Lawyers^® Rising Stars
Recognized as an “Emerging Lawyer in Illinois” in 2018 and 2021 in a survey of her peers by Leading Lawyers
Peer review rated as AV Preeminent^®, the highest performance rating in the Martindale-Hubbell^® Peer Review Ratings™ system

Affiliations

Member of the American Bankruptcy Institute (ABI)
Turnaround Management Association (TMA)
International Women’s Insolvency Restructuring Confederation (IWIRC)
Chicago Bar Association
Illinois State Bar Association
Volunteer instructor with Credit Abuse Resistance Education (CARE)
Board of Directors for the Chicago Appleseed Center for Fair Courts

Presentations and Publications

Speaker, “Augmenting the Bankruptcy Estate: Fraudulent Transfers and Preferences in Bankruptcy,” Foley Academy: Legal Training Series (March 28, 2025)
Speaker, “Business Restructuring – Looking into a Crystal Ball or Down a Rabbit Hole,” The M&A Advisor 2025 Distressed Investing Summit (March 25, 2025)
Speaker, “Will AI Take Over the World?,” A “One of a Kind” Event (December 5, 2024)
Speaker, “Setting Your Case (and Yourself) Up For Success: Essential Steps,” New Associate Orientation (October 8, 2024)
Co-author, “Treatment of Environmental Obligations in Bankruptcy,” Environmental Law in Corporate and Real Estate Transactions (IICLE 2019 ed. & Supp. 2023)
Speaker, “Reconsidering Value Allocation: Tools for Junior Stakeholders,” American Bankruptcy Institute Annual Spring Meeting (April 30, 2022)
Co-author, “Supreme Court TCPA News: Government Debt Collectors Beware and Autodialers Under Review” Consumer Class Defense Counsel (July 23, 2020)
Speaker, “Bankruptcy 101 – The Basics,” National Association of Credit Management Webinar (November 19, 2019)
Speaker, “Partnering with Outside Counsel to Achieve Your Company’s Goals,” Loyola University Chicago Quinlan School of Business (August 10, 2019)
Co-author, “Crypto as Commodity, and the Bankruptcy Implications,” Law360 (October 17, 2018)
Speaker, “Leadership and the Legal Profession,” Loyola University Chicago School of Law (November 7, 2017)
Speaker, “Anatomy of Case II – Discovery,” Foley Institute for Professional Development (October 10, 2017)
Speaker, “The Many Faces of Fraud in Bankruptcy,” Foley Institute for Professional Development (August 22, 2017)
Speaker, “Women in Law,” Loyola University Chicago School of Law (October 18, 2016)
Speaker, “Evidence in Bankruptcy, including Social Media,” Walter Chandler American Inn of Court (October 28, 2015)
Co-author, “Employment Agreements Involving Restrictive Covenants and Trade Secrets,” Illinois Business Law: Miscellaneous Operating Issues (IICLE 2011 ed. & Supp. 2013)
Co-author, “Confidentiality and Non-disclosure Agreements in Mergers and Acquisitions,” Illinois Business Law: Mergers and Acquisitions (IICLE 2011 ed. & Supp. 2013)
Featured, “Non-Billable Hours,” Chicago Lawyer Magazine (October 2012)
Speaker, “Attorney Ethics: The Attorney-Client Privilege,” Illinois Law and Leadership Institute Seminar (August 2, 2012)
Speaker, “Conflicts of Interest: Identifying and Resolving Conflicts,” ARDC Professionalism Seminar: The Essentials of Ethical Practice (June 16, 2011)
Author, “The Role of Attorney Ethics and Witness Misidentification in the 26-Year Incarceration of an Innocent Man,” 14 Pub. Int. L. Rep. 25 (2008)

April 2, 2026 In the News