He has also represented third-party custodians, such as receivers and bankruptcy trustees, in their duties to oversee the operation and liquidation of assets. Phil also assists commercial buyers and sellers in acquiring and selling real property and businesses, as well as borrowers and lenders in loan origination transactions.
A Best Lawyers in America® honoree, Phil Rudd has spent over 30 years helping business owners and borrowers, lenders and vendors, and landlords and tenants, in resolving their financial and operational challenges and disputes through workouts and negotiated restructurings, contested and uncontested bankruptcies, receiverships, asset and stock sales and liquidations, and litigation.
- J.D., cum laude, James E. Rogers College of Law, University of Arizona 1991: Dean’s List; University of Arizona Law Review; Honorable Mention, Best Moot Court Brief
- B.A., University of Arizona 1988
Bar & Court Admissions
- Arizona 1991
- U.S. District Court, District of Arizona 1991
- U.S. Court of Appeals, Ninth Circuit 1997
Honors & Awards
- Best Lawyers® 2023 “Lawyer of the Year” (Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law), Scottsdale
- The Best Lawyers in America®: Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (2019-present); Bankruptcy Litigation (2021-present); Banking and Finance Litigation (2022-present)
- “Top People to Know in Commercial Real Estate,” AZRE Magazine 2011
Professional & Industry Memberships
- American Bankruptcy Institute
- State Bar of Arizona: Bankruptcy Section
- Maricopa County Bar Association: Bankruptcy Section; Chairman 2000-2001, Secretary/Treasurer 1999-2000, Executive Board Member 1996-2001)
- Turnaround Management Association: Board of Directors 2004-2006
Representative Cases & Matters
- Confirmed several Chapter 11 plans of reorganization for small businesses under Subchapter V of Chapter 11.
- Negotiated work-outs, and confirmed several complex Chapter 11 plans of reorganization, for high net worth individuals and owners of operating and manufacturing companies, hotels, senior living facilities, hospitals, industrial and office buildings, and apartment complexes, and land developers.
- Through the use of the Chapter 11 reorganization process, negotiated a significant discounted cash payoff of a $31 million senior living facility debt through the sale of assets, which also resulted in a full release of all guarantees.
- Through the Chapter 11 reorganization process for a storage facility, negotiated a significant discounted cash payoff of a $7.5 million secured claim, which allowed the interest holders to retain their interests in the debtor.
- Following heavily contested valuation and plan confirmation proceedings, negotiated a consensual plan of reorganization with the secured lender regarding its $21 million claim in a retail and office center in Las Vegas, which allowed the interest holders to retain their interests in the reorganized debtor and provided for a release of guarantees.
- Successfully defended complex alter ego litigation against affiliates of borrower, resulting in a settlement for a fraction of the amount claimed.
- Represented a private lender in connection with the origination of a multi-million loan to a medical marijuana company.
- Represented various sellers in multi-million dollar sales of hotels, hospitals, real property and other commercial assets.
- Represented a private lender in connection with the enforcement of multi-million dollar loan to a medical marijuana facility, resulting in payment in full of the lender’s claim.