TEL: 201-525-6269 / FAX: 201-678-6269 / ivolkov@coleschotz.comLegal Practice Assistant: Ruth Chave TEL: 201-489-3000, ext. 5027 

Ilana Volkov is a member in the firm’s Bankruptcy and Corporate Restructuring Department. She has over 25 years of experience representing debtors, unsecured creditors' committees, pre-petition and DIP lenders, purchasers of assets, commercial landlords and other contract parties, shareholders, and other parties-in-interest in all aspects of complex business reorganizations, distressed M&A transactions and related litigation. Ilana also has extensive experience in cross-border insolvency proceedings.

Ilana's experience includes:

  • Tai-Soo Suk, the duly appointed foreign representative of Hanjin Shipping Co., Ltd. in the Chapter 15 proceeding of Hanjin Shipping Co., Ltd. (New Jersey);
  • DirectBuy Holdings, Inc. et al. in its Chapter 11 bankruptcy proceedings (Delaware);
  • Nicholas G.A. Denton in his Chapter 11 proceeding (Southern District of New York);
  • Wakefern Food Corp. as the stalking horse purchaser of 12 commercial real property leases and related assets of The Great Atlantic & Pacific Tea Company, Inc. et al. (Southern District of New York);
  • GameStop Corp. and its wholly-owned subsidiary, Spring Communications Holding Corp., as the designation rights purchaser of 163 commercial real property leases and assignee of substantially all those leases in the Chapter 11 cases of RadioShack Corporation et al. (Delaware);
  • Fresh & Easy, LLC in its Chapter 11 proceeding (co-counsel, Delaware);
  • The largest fourth lien noteholder in the Chapter 11 proceedings of Old HB, Inc. (f/k/a Hostess Brands, Inc.) et al. (Southern District of New York);
  • Highland CDO Opportunity Master Fund, L.P. in the Chapter 11 proceedings of Lehman Brothers Holdings Inc., et al. (Southern District of New York);
  • An affiliate of Spencer Spirit Holdings, Inc. as the stalking horse plan sponsor of Brookstone Holdings Corp., et al. (Delaware);
  • DPH Holdings Corp. (f/k/a Delphi Corporation) in dissolution under Delaware law;
  • Various depositors/creditors in the Chapter 15 proceeding of Caledonian Bank (Southern District of New York);
  • The insolvency administrator over the estate of Qimonda AG in the Chapter 15 proceeding of Qimonda AG (conflicts counsel, Eastern District of Virginia);
  • Madison Capital Holdings LLC as the designation rights purchaser in the Chapter 11 proceedings of Loehmann's Holdings Inc., et al. (Southern District of New York).

Ilana is a sought after speaker on restructuring topics including cross-border insolvencies and the intersection between bankruptcy and maritime law.

She is a member of the New Jersey State Bar Association (Bankruptcy Law Section); American Bankruptcy Institute; the International Women’s Insolvency and Restructuring Confederation (IWIRC); and the New York City Bar Association Committee on Bankruptcy and Corporate Reorganization. Ilana founded the IWIRC-NJ Network in 2004, was a member of its Board of Directors, and served on the International Board of IWIRC for many years. Ilana is the recipient of the 2016 IWIRC-NJ Network Woman of the Year Award.

Ilana earned her B.A. from Columbia University and her J.D. from the University of California at Los Angeles School of Law. During law school, she interned for the Honorable Calvin K. Ashland, then United States Bankruptcy Judge for the Central District of California and a member of the Bankruptcy Appellate Panel for the United States Court of Appeals for the Ninth Circuit.

Born in Riga, Latvia, Ilana is fluent in Russian.



University of California at Los Angeles School of Law, J.D., 1991

Columbia University, B.A., 1988

Bar & Court Admissions

New Jersey, 1991U.S. District Court, District of New Jersey, 1991New York, 1992U.S. District Court, Southern District of New York, 1992U.S. District Court, Eastern District of New York, 1992U.S. Court of Appeals, Third Circuit, 1995

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