Jan 07, 2013

Mimi Stein joins banking practice at Chuhak & Tecson

Chuhak & Tecson, P.C., is pleased to announce that Miriam “Mimi” Stein, a well-known and highly respected Chicago bankruptcy attorney, has joined the firm’s banking group in an Of Counsel position.

Stein’s practice is concerned with all parts of Chapter 11 cases, from pre-bankruptcy planning to confirmation hearings, adversary litigation, business reorganizations, real estate workouts, out-of-court restructuring, and other bankruptcy outcomes. She has earned an excellent reputation in more than 16 years representing secured lenders and other creditors, debtors and bankruptcy trustees.

At Chuhak & Tecson, Stein focuses on representing banking clients, but her past work with debtors allows her a wider perspective in dealing with all parties to a bankruptcy.

“We have worked against and corroboratively with Mimi for the last 10 years,” said Josh Hyman, principal and head of the firm’s banking group. “With her skill set and overall disposition, it was a great catch for us when we were able to land her.

“In fact, we have already had a large response from existing clients who are delighted that she is with us,” Hyman said, adding that half a dozen clients immediately called to congratulate him on hiring her.

After graduating in 1996 from Chicago-Kent College of Law, Stein was introduced to bankruptcy law as a clerk for Judge Erwin Katz of the U.S. Bankruptcy Court, Northern District of Illinois. She found she enjoyed the complexities of the field and has spent her entire career focused on bankruptcy restructuring and insolvency.

“Bankruptcy law requires a good understanding of many different disciplines—corporate, real estate and tax issues, for example—and that’s what made it interesting to me,” Stein said.

“What I enjoy is the interaction with clients and being able to accomplish their goals and service their needs,” she said. “When people come to us—whether banks or individuals—they’re in some legal distress and need legal solutions, and it’s exciting to be a part of helping them work through those issues.”

One of the things that Hyman finds exciting is the opportunity to continue growing Chuhak & Tecson’s banking group to better serve clients.

“Mimi brings yet another layer of depth to our bankruptcy practice in representing secured lenders,” Hyman said. “With her addition to the firm’s bank practice, we now have 21 full-time bank lawyers representing over 80 financial institutions.”

Stein also serves as a panel bankruptcy trustee for the U.S. Bankruptcy Court for the Northern District of Illinois, the same court that jumpstarted her career, and considers it her way of giving back to the bankruptcy system. She also sits on the board of directors for SHALVA, an organization that combats domestic abuse in Jewish homes through counseling and education.

She was named an Illinois Super Lawyer in 2012 and often is asked to speak on bankruptcy topics, women’s issues in the workplace, and work/life balance. Her knowledge of the latter comes from juggling a thriving career with raising five children currently ranging in age from 10 to 19.

“Our first son was born during law school, the second right after, and then we had three more children,” Stein said, “so I’ve always tried to work in places that value that family/life balance.

“Chuhak & Tecson is one of those firms,” she said. “The firm’s attorneys are energetic and committed, but they also adhere to a healthy balance which I believe is appreciated by the lawyers, the staff and the clients alike.”

Stein was invited to speak at her alma mater about her legal career path and how to work in the legal environment and still enjoy a life away from the office. 

“It’s doable, but you have to choose carefully,” Stein said. “It takes a good team in the office and a good team at home.”