Ira Bodenstein



(312) 474-1647

(312) 382-8910

Ira has a keen understanding of the trustee process and how to efficiently achieve the optimum resolution for the involved parties. He counsels bankruptcy clients on the necessity and timing of filing reorganization cases, and the rights of unsecured and secured creditors prior to and subsequent to bankruptcy filing. Ira is experienced in all facets of Chapter 11 reorganization cases, including preparing and confirming plans of reorganization in debtor cases, representing creditors’ committees, opposing debtors' plans on behalf of creditors, and representing creditors and debtors in preference and fraudulent conveyance litigation. He also counsels lenders on their rights as secured creditors. Ira is a member of the private panel of Chapter 7 bankruptcy trustees and also represents panel trustees. Ira has also served as a federal equity receiver in SEC and DOL actions and has represented federal equity receivers in SEC and CFTC actions. 

Appointed by U.S. Attorney General Janet Reno, Ira served as the U.S. Trustee for Region 11, which includes the Northern District of Illinois and the state of Wisconsin, from May 1998 through January 2006. In that capacity, he served as head of the Justice Department's component with primary oversight responsibility for all bankruptcy cases filed in Region 11. 

In 2018, Ira was named an Illinois Leading Attorney by the Law Bulletin Publishing Company. He has an AV rating from Martindale Hubble and is listed in Who’s Who in America’s 70th Anniversary edition. Ira is a founding member and past president of the National Association of Federal Equity Receivers.

Ira earned his J.D. from the University of Miami School of Law and his B.A. from Franklin & Marshall College.




Leading Lawyers Network Recognizes 26 Cozen O’Connor Lawyers as Top Illinois Practitioners

January 26, 2021

The Leading Lawyers Network has named 24 Cozen O’Connor lawyers to its annual list of Illinois’ top practitioners and named two others as Emerging Lawyers in its 2021 survey results.

With Global Bankruptcy Filings Increasing, Cozen O’Connor Adds Eight Veteran Attorneys to its Bankruptcy, Insolvency & Restructuring Practice

September 01, 2020

Hires Expand Offerings in Chicago and Add Depth to the firm’s Corporate Bankruptcy Practice


COVID Cash Crunch: Options for Reorganizing or Winding Down Your Company in Illinois

October 27, 2020

Ira Bodenstein and David R. Doyle discuss options for businesses impacted by COVID-19 that are considering winding down or reorganizing.

Options for Reorganizing or Winding Down Your Company

August 20, 2020

In light of the financial distress caused by the COVID-19 pandemic, Ira Bodenstein and David Doyle contributed a guest blog post to the Chicago Loop Alliance exploring some of the options available to companies considering their options for reorganizing their debts, winding down, or liquidating.


  • University of Miami School of Law, J.D., 1980
  • Franklin and Marshall College, B.A., 1977

Awards & Honors

AV Rating, Martindale Hubbell

Named an "Illinois Leading Lawyer" by the Law Bulletin Publishing Company (2018)

Listed in Who’s Who in Americas, 70th Anniversary Edition

  • Florida
  • Illinois
  • U.S. Court of Appeals for the Seventh Circuit
  • U.S. District Court -- Central District of Illinois
  • U.S. District Court -- Northern District of Illinois
  • U.S. District Court -- Northern District of Florida

National Advisory Council for the University of Miami School of Law (2019-2020)

American Bankruptcy Institute

Chicago Bar Association

Immediate Past President and Founding Member National Association of Federal Equity Receivers