William J. Burnett

William J. Burnett concentrates his practice in bankruptcy, reorganizations and workouts. He is past chair of Flaster Greenberg’s Bankruptcy, Financial Restructuring and Risk Management Department, and also serves as a member of the firm's Board of Directors and as Ethics Attorney for the firm.

He represents clients in all areas of Chapter 7 and Chapter 11 bankruptcy proceedings, creditor’s rights and corporate liquidations. In addition, he counsels debtors on the advantages and disadvantages of Chapter 11 and the rights and remedies of creditors and unsecured creditors' committees in the Chapter 11 process. His representations include financially distressed companies, creditors' committees, trustees, plan administrators, secured and unsecured creditors, Chapter 7 trustees, Chapter 11 debtors-in-possession, landlords, equipment lessors, asset purchasers, and preference plaintiffs and defendants.  

Mr. Burnett has been an adjunct professor at the Temple University Beasley School of Law for the Integrated Transactional Program since 2006, and holds board seats for the Consumer Bankruptcy Assistance Project and the Philadelphia Chapter of the Turnaround Management Association, where he previously served as secretary. Mr. Burnett is also past president of the Board of Directors of Greene Towne Montessori School in Philadelphia.

Dedication to the community is evident in Mr. Burnett's pro bono representation, which includes assisting underprivileged individuals with Chapter 7 bankruptcy cases through Consumer Bankruptcy Assistance Project. Additionally, he was recently selected to join COMPASS for the 2016 - 2017 project year, an organization that provides strategic consulting services to nonprofits in the Greater Philadelphia area. 

Delaware Matters

• Represented an international pharmaceutical company in a highly competitive Section 363 auction sale process leading to the $450,000,000 acquisition of Graceway Pharmaceuticals, LLC by another party, under the supervision of the United States Bankruptcy Court for the District of Delaware
• Newstarcom Holdings, Inc, et al. - Counsel to Chapter 7 Trustee
• HomeBanc Mortgage Corp., et al. - Conflicts Counsel to Chapter 7 Trustee
• ANC Rental Corporation - Counsel to Debtor and Liquidating Trust
• NVF Company, Inc. - Counsel to Chapter 7 Trustee

• Selected as a 'Leader in the Field' of Bankruptcy/Restructuring, Pennsylvania, Chambers & Partners USA, 2015 - 2023
• 2023: Referred to as ""He's good at understanding the options available, drafting agreements and presenting in court."
• 2022: Sources are quoted as saying, “Bill is a solid attorney who services his clients well,” and that "He is a strong lawyer.”
• 2020: Sources notes that "Bill is very knowledgeable and good at finding solutions” and "has a practical approach to handling cases.”  
• 2019: Sources noted that "Bill is very good; very business-oriented and he knows how to work deals and move things forward."
• 2017: "A very even-tempered fellow, able to bring parties together."
• 2016: "A very strong practice leader who is building a very fine bankruptcy and restructuring business - he is distinguished by his even strain and high intellect." 
• 2015: "Practical, hard-working and very creative in his thinking." 
• Named a Pennsylvania "Super Lawyer" in the area of Bankruptcy - Business, 2010 - 2023, by Thomson Reuters, publishers of Pennsylvania Super Lawyers
• Award the Transaction of the Year Award by the Turnaround Management Association for his role in the Chapter 7 transaction of North American Specialty Glass
• Named to the "Legal Elite" list by SmartCEO Magazine, 2010

A description of the standard or methodology on which the accolades are based can be found here. No aspect of this advertisement has been approved by the Supreme Court of New Jersey. 

• U.S Bankruptcy Court for the Eastern District of Pennsylvania
  • Local Bankruptcy Rules Committee Member, 2024 through 2025
• Law 360's Bankruptcy Editorial Advisory Board
  • Member, 2024
• Turnaround Management Association (Philadelphia Chapter)
  • Board Member
• Consumer Bankruptcy Assistance Project
  • Board Member
• Eastern District of Pennsylvania Bankruptcy Conference
• Delaware Bankruptcy American Inn of Court
• American Bankruptcy Institute
• National Association of Credit Management

• Greene Towne Montessori School (Philadelphia, PA)
  • Member, Board of Directors, 2006 – 2014
  • President, Board of Directors, 2010 – 2012
  • Vice President, Board of Directors, 2009 – 2010
• UCLA Parents' Council, 2020 – Present
• Lombard Swim Club
  • President, 2020 – Present
• Penn Alliance Select Soccer
  • Team Manager