Rakhee V. Patel

RAKHEE PATEL has more than two decades of experience guiding her clients through an array of distressed business situations and providing those clients with targeted and effective solutions. She creates practical solutions when advising public and private companies; clients all along the debt stack, from corporate debtors to equity holders; and stakeholders ranging from official committees to vendors to landlords in both in-court and out-of-court restructurings. Additionally, Rakhee represents parties in high-stakes bankruptcy litigation, including fraudulent transfer, preference, breach of fiduciary duty, discharge, dischargeability, and state law-based actions.

Selected industries in which Rakhee has provided restructuring advice include energy, hospitality (including lodging and multi-location restaurants), financial products, retail, distribution, manufacturing, aviation, and start-up ventures.

Rakhee routinely speaks at both local and statewide conferences as well as at seminars on bankruptcy, restructure, and workout topics, including a presentation on Sex Abuse Bankruptcies at the 28th Annual Jay L. Westbrook Bankruptcy Conference and on diversity issues including most recently to the U.S. India Chamber of Commerce.

Rakhee has earned notable awards and acknowledgement in numerous industry publications, including:

• From 2019–2025, Chambers USA recognized Rakhee in Bankruptcy/Restructuring - Texas. Sources in the 2022 edition describe Rakhee as “an unbelievable advocate” and as an “excellent negotiator” who has an “extremely strong knowledge of the law but she applies it in the most practical way.”
• From 2018–2023, Rakhee has been recognized by The Best Lawyers in America for her work in Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation – Bankruptcy.
• From 2015–2016, 2018–2025, Rakhee was named as one of the “Best Lawyers in Dallas” by D Magazine.
• From 2013–2025, Rakhee has been listed in Texas Super Lawyers for her work in bankruptcy.
• From 2005–2012, Rakhee was honored as a “Rising Star” by Texas Super Lawyers.

• Prospect Medical Holdings, Inc. (Prospect) and several of its subsidiaries in its ongoing Chapter 11 cases in the United States Bankruptcy Court for the Northern District of Texas. With over US$2.2 billion in outstanding funded debt, Prospect’s Chapter 11 cases are among the largest filed in 2025.
• Ebix, Inc., a global software and technology company, and certain of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Texas, to address approximately US$700 million in funded debt obligations, through a successful asset sale and sponsored plan of reorganization.
• Impel Pharmaceuticals, a commercial-stage biopharmaceutical company, and one of its subsidiaries in connection with their Chapter 11 cases.

• American College of Bankruptcy, Fellow
• John C. Ford American Inn of Court, Master
• TMA Global Network of Women, Co-chair
• American Bankruptcy Institute, Member
• Turnaround Management Association, Global Member and Board Member of DFW Chapter
• International Women’s Insolvency & Restructuring Confederation
• South Asian Bar Association of North America
• Northern District of Texas Complex Case Committee, Chair
• Dallas Bankruptcy Association, Bankruptcy & Commercial Law Section, Former Chair
• Texas Minority Counsel Program, Steering Committee (Former)