William (Bill) Factor has been dealing with financially distressed businesses and individuals since the early 1980’s, when he first worked as a collections coordinator at a large Chicago law firm. That initial experience led him to apply to an evening law school program at DePaul College of Law, where he excelled to the point of being offered the position of a Summer Associate at the Sidley Austin firm for the summer of 1988 (and ultimately the summer of 1989). After the summer program ended each year, Bill continued on at Sidley during the school year, focusing mainly on commercial bankruptcy and litigation. During law school, Bill was in the top 5% of his class, on the Law Review and elected to the Order of the Coif. Upon graduation, Bill passed the Illinois bar and began his formal legal career as an associate in Sidley’s commercial reorganization practice. During that time, Bill obtained a very solid understanding of commercial litigation and commercial bankruptcy, representing secured creditors, creditors’ committees, debtors and other constituents dealing with financially distressed situations. In 1995, Bill was offered a position in the litigation department at Seyfarth Shaw, another large firm, which he accepted in order to further focus on commercial litigation and bankruptcy. While at Seyfarth, Bill continued to represent secured creditors, debtors, creditors’ committees, unsecured creditors in bankruptcy proceedings and non-bankruptcy workouts, as well as plaintiffs and defendants in litigation in both State and Federal Court. Also at Seyfarth, Bill started to represent chapter 7 bankruptcy trustees, which provided his initial exposure to the consumer bankruptcy practice. Bill continued his career at Seyfarth for almost fifteen-years, becoming an equity partner in 1998.
In 2009, Bill decided to start his own law practice so he could expand his area of expertise to consumer bankruptcies and bring his expertise in the commercial realm to small businesses that otherwise could not afford the rates charged at large downtown firms. FactorLaw thus was launched in April of 2009, and has since grown over the past decade to include 6 full time lawyers, 3 “of-counsel” lawyers, and three legal assistants. Consistent with Bill’s immersion in the world of financially distressed entities, FactorLaw represents (a) individuals in chapter 7, 11 and 13 proceedings and as plaintiffs and defendants in State Court and Federal Court litigation; (b) many of the chapter 7 Panel Trustees in the Northern District of Illinois in matters ranging from general case administration, to fraudulent conveyance, preference and denial of discharge litigation; (c) secured and unsecured creditors in UCC foreclosure proceedings, workouts, assignments for the benefit of creditors and debt collection proceedings (on both an hourly and contingency fee basis); and (d) small businesses in chapter 7 and chapter 11 proceedings, creditor workouts, assignments for the benefit of creditors, commercial litigation in State and Federal Court, and financing and sale transactions.
DePaul University College of Law, Chicago, Illinois
University of Chicago, Chicago, Illinois