Karen R. Goodman

Senior Counsel Chicago
Contact Info


Karen's practice focuses on bankruptcy matters. She has represented creditors, trustees, Chapter 11 debtors and creditors' committees in various complex commercial bankruptcy cases and has participated in commercial litigation before various federal and state courts. Karen has also counseled clients regarding out-of-court workouts and in the area of insolvency.

As part of her bankruptcy practice, Karen has been a member of the panel of Chapter 7 Bankruptcy Trustees for the Northern District of Illinois since 1989 and has been appointed as Trustee and Examiner in operating Chapter 11 cases. She also has extensive experience representing Trustees in multi-asset cases. 

Karen has been awarded an AV® Peer Review Rating from Martindale-Hubbell, its highest rating for ethical standards and legal ability.  She was also recognized in The Best Lawyers in America for Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, 2018.


All Service Areas


  • Loyola University Chicago School of Law (1977)
  • University of Illinois, Champaign-Urbana (1974)


  • Federal - 7th Circuit Court of Appeals
  • Federal - Northern District of Illinois (Trial Bar)
  • State - Illinois
  • Federal - Northern District of Illinois

Notable Matters

  • Appointed Assignee for the Benefit of Creditors for a mortgage brokerage firm in Flossmoor, Illinois.
  • Appointed Chapter 11 Trustee for Plibrico Co. and Plibrico Sales & Service, a refractory manufacturer and installer with corporate headquarters in Chicago.
  • Appointed Chapter 11 Trustee for Demert & Dougherty, an aerosol manufacturer and filler in Coal City, Illinois.

Speeches and Publications

  • "What the Trustee is Looking for in Your Chapter 7 or 13 Filing," National Bankruptcy Institute, February 2012.
  • “Keep Your License: Ethical Issues for Consumer Bankruptcy Attorneys,” Central States Bankruptcy Workshop, June 2009.
  • “Means Testing and its Challenges,” National Bankruptcy Institute, April 2009.
  • “Real Estate and Bankruptcy,” guest lecturer at Real Estate Law course for graduate students at Northwestern University, Kellogg School of Management, 2007-2001.

Professional Affiliations

  • Chicago Bar Association

    Past Chair, Bankruptcy & Reorganization Committee

  • American Bankruptcy Institute


  • National Association of Bankruptcy Trustees


  • Almost Home Kids

    Member, President's Council