Sarah Schrag

Sarah has extensive experience representing debtors, creditors, creditors’ committees, trustees, investors, distressed asset purchasers, foreign representatives, and other stakeholders in chapter 7, 9, 11, 13 (pro bono), and 15 proceedings, including matters involving recognition and enforcement of foreign insolvency proceedings, debtor-in-possession financing, section 363 asset sales, plan negotiations and confirmations, and contested restructuring disputes. She also has significant experience enforcing domestic and foreign judgments and has represented clients across industries including healthcare, energy, financial services, mortgage lending, manufacturing, and nonprofit organizations.

Before entering private practice, Sarah served as a legal intern for U.S. Senate Judiciary Committee matters and as a judicial intern for the Honorable Lawrence R. Leonard of the U.S. District Court for the Eastern District of Virginia.

• Represents Fleming International Reinsurance Ltd. in chapter 15 proceedings to amend recognition of its Bermuda foreign main proceeding and give full force and effect to its Scheme of Arrangement.
• Represented Powin LLC in chapter 11 proceedings involving the restructuring and sale of a leading global energy storage company.*
• Represented First Guaranty Mortgage Corporation in chapter 11 proceedings involving complex debtor-in-possession financing, claims resolution, and confirmation of a liquidation plan.*
• Represented Astria Health in its chapter 11 restructuring involving contested financing, operational restructuring, and litigation over critical healthcare services.*
• Represented Verity Health System of California in one of the largest hospital restructurings in U.S. history, involving more than $1.4 billion in debt.*
• Represented the Fiscal Agency and Financial Advisory Authority and the Government Development Bank for the Commonwealth of Puerto Rico in connection with restructuring efforts under PROMESA.*
• Represented the Official Committee of Equity Holders in the Ironclad Performance Wear chapter 11 cases, resulting in full payment to unsecured creditors and significant recoveries for equity holders.*
• Represented Air Force Village West in chapter 11 proceedings that facilitated the successful sale of a continuing care retirement community.*

*Experience prior to joining Chaffetz Lindsey LLP

• “Are Long-Term-Care Facilities Residential Real Property,” ABI Journal, Samuel R. Maizel & Sarah M. Schrag (March 2026).
• “The Effect of the Global Pandemic on Hospitals in America: The Rich Get Richer, But for the Rest …,” Norton Journal of Bankruptcy Law and Practice, Vol. 29, No. 4, Samuel R. Maizel, Tania M. Moyron, Nicholas Koffroth, & Sarah M. Schrag (August 2020).
• “Value, Not Face Amount, of Liens Controls in a Battle of Credit Bids,” American Bankruptcy Institute Journal, Oscar N. Pinkas, Bryan E. Bates, & Sarah M. Schrag (July 2017).
• “Supreme Court Closes ‘Backdoor’ Circumvention of Bankruptcy Priority Scheme,” Journal of Corporate Renewal, Oscar N. Pinkas, Bryan E. Bates, & Sarah M. Schrag (July/August 2017).
• “Chapter 9: Fraudulent Transfer Litigation,” Georgia Business Litigation, Gary W. Marsh, B. Summer Chandler, & Sarah M. Schrag (2017).

• Member, American Bankruptcy Institute
• Member, International Bar Association, Litigation Committee
• Member, International Women’s Insolvency & Restructuring Confederation
• Member, New York Bar Association
• Member, State Bar of Georgia, Bankruptcy Committee
• Member, Turnaround Management Association