Get to know Sonia
SONIA COLÓN is a Capital Member of FERRAIUOLI, and Chair of the Bankruptcy and Creditors’ Rights Practice Group. She also heads Ferraiuoli’s Florida office serving business clients expanding their operations to Florida, with their legal needs in the areas of corporate law, real estate, and regulatory matters.
For twenty two years, Sonia has focused her practice to insolvency related matters, including workouts, debt restructuring, and complex commercial litigation in which she represents various parties, including institutional lenders, investors, equity holders, and bonding and insurance companies, in all aspects of bankruptcy and workouts. Sonia has represented clients in matters related to Puerto Rico’s fiscal crisis, including Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA), enacted on June 30, 2016.
Sonia has represented clients in numerous bankruptcy cases, including out-of-court restructurings and all aspects of complex bankruptcy litigation including dischargeability, fraudulent transfers, preference actions, super priority lending, cram-downs and valuation as well as representing creditors’ committees, secured creditors and debtors in Chapter 11 cases. She also advises clients as to insolvency related transactions, including workouts, restructuring of financial transactions and tracing funds, fraudulent conveyance actions, acquiring bankruptcy assets, and securing diverse types of financing agreements during a bankruptcy case.
Sonia has written extensively on the Puerto Rico fiscal and economic crisis, publishing various articles on the topic. She lectures nationally and internationally on various aspects of bankruptcy, before the American Bankruptcy Institute, the Association of Insolvency & Restructuring Advisors, and in various universities, such as the Puerto Rico, Boston, Duke, Stetson, and Texas University. She chairs the National Hispanic Bar Association’s Task Force on Puerto Rico, which played an important role in the congressional and executive efforts for the enactment of PROMESA. She is frequently quoted in local and national newspapers and other business publications.
Sonia is also certified as a Policy Issuing Agent by The Fund to issue commitments and policies.
Prior to joining Ferraiuoli, Sonia served as a law clerk to Honorable Enrique S. Lamoutte, Chief Judge of the U.S. Bankruptcy Court of Puerto Rico, and in another major law firm in San Juan, where she was a partner and member of the bankruptcy practice group, representing clients in the creditors’ rights area.
Why do your clients come to you?
The recessionary economy has seriously affected Puerto Rico’s businesses. With the financial situation worsening, clients turn to me to represent them in Chapter 11 cases involving business restructuring and creditors’ rights. With experience in debtor side representation as well as in the representation of institutional title insurers and construction and mechanic lien holders, I am able to provide secured lenders, creditors’ committees, and individual creditors with solutions for maximizing recoveries while minimizing the costs and time associated with the restructuring process.
At Ferraiuoli, I work with a group of top notch attorneys with whom I can team up and collaborate to serve our client’s needs. We work in an integrated way, utilizing our expertise, whenever possible, to leverage our legal representation and obtain positive results. My experience in all aspects of bankruptcy practice, resources from recognized attorneys who specialize in other fields, reputation in the bankruptcy court, and extensive network of relationships in the business community, allows me to achieve the best outcome to my clients in financial restructuring and business bankruptcy matters.
What is your primary focus?
My focus is always client service and satisfaction. At all times, my clients’ interests are paramount and an outcome consistent with their objectives is the goal. As most insolvency cases involve a range of issues that require professional assistance beyond bankruptcy legal issues, I team up with other firm resources, including litigation, intellectual property, employment and corporate law to enhance our client’s ability to achieve positive resolution with minimal litigation expenses. In addition, I am a business lawyer with over eighteen years of experience. Besides business bankruptcy and creditors’ rights matters, I have commercial litigation experience and have been involved in some of the largest and most complex restructurings and litigations in Puerto Rico, and some national cases as well.
What do you find most rewarding?
Helping a client navigate the way forward in critical times. I am committed to bringing the knowledge and experience that I have gained to help our clients resolve their problems and manage them.
- Sonia regularly represents Stewart Title Guaranty Company, LSREF2 Island Holdings, Ltd., Bautista Cayman Asset Company, Capital Crossing, and Condado 4, LLC, Condado 2, LLC and in bankruptcy and commercial litigation.
- Sonia has represented Liberty Mutual Insurance Company in major construction bankruptcy and related litigation.
- Sonia represented Wells Fargo Bank, N.A., the indenture trustee and successful plan proponent in In re El Comandante Management Corp.
Sonia has widely published and lectured on a variety of restructuring and workout related matters. Since 2001, she has chaired and conducted numerous seminars and speeches in the fields of creditors’ rights, bankruptcy and business reorganizations including:
- Speaker in Ana G. Mendez University System for Despliega to Activo, How to Incorporate in the State of Florida, Orlando, Florida, October 2018
- Panelist, 35th Annual Jay L. Westbrook Bankruptcy Conference, Restructuring Public Finances – Chapter 9 and Alternatives, Texas, November 2016
- Guest in Telemundo’s program “Orlando Avanza”, Orlando, Florida, October 2016
- Panelist, II Congreso del Caribe Sobre Derecho de Quiebra, El estado actual del derecho concursal en torno al individuo, Universidad Interamericana, San Juan, Puerto Rico, September 2016
- Panelist, 1rst PROMESA Conference, A Walk Through P.R.O.M.E.S.A. and the Detroit Experience, San Juan, Puerto Rico, August 2016.
- Panelist, AIRA’s 32nd Annual Bankruptcy & Restructuring Conference, Puerto Rico, Where is it Going?, San Diego, California, June 2016.
- Panelist, 2nd Hispanic Business Conference & Expo 2016, Puerto Rico: De la crisis a la oportunidad, Orlando, Florida, June 2016.
- Panelist, Puerto Rican Summit VII, Puerto Rico Fiscal Crisis, Orlando, Florida, May 2016.
- Panelist, 40th Annual Alexander L. Paskay Memorial Bankruptcy Seminar, Special Challenges of Individual Chapter 11, Clearwater, Florida, March 2016.
- Panelist, University of Puerto Rico Business Law Journal Symposium, “Public Debt and the Future of Puerto Rico” (La Deuda Pública y el Porvenir de Puerto Rico), San Juan, Puerto Rico, February 2016.
- Panelist, Caribbean Insolvency Symposium, When Healthcare Goes in Life Support, San Juan, Puerto Rico, February 2016.
- Panelist, Business Law Society’s Symposium on Modern Municipal Restructurings, Puerto Rico and Beyond, Duke Law School, Durham, North Carolina, November 2015.
- Panelist, IWIRC 22nd Annual Fall International Conference, From Detroit to Puerto Rico: Chapter 9’s Role in Changing Government, Miami, Florida, September 2015.
- Panelist, Caribbean Insolvency Symposium, Wait — You Can Reorganize Under State Law Now, Grand Cayman, Cayman Islands, February 2015.
- World Bank Group – Doing Business 2021 – Resolving Insolvency – Puerto Rico, April 2020
- Chambers Global Practice Guide, Insolvency, 2019 Second Edition Guide, December, 2019
- Chambers & Partners Insolvency Practice Guides, 2018 Latin America Edition of Chambers & Partners, November, 2017.
- “Los Escabrosos Caminos para Frenar la Crisis”, El Nuevo Día, December 2016.
- Chambers & Partners Insolvency Practice Guides, 2017 Latin America Edition of Chambers & Partners, August, 2016.
- Chambers Global Practice Guides, Chambers Global Practice Guide on Insolvency 2016, August, 2016.
- Named, The Case of Independent Oversight in Municipal Restructurings by Brian F. Gleason and Martha E. M. Kopacz, ABI Journal, August 2016.
- Named, “Former Gov. Fortuño Slams Puerto Rico’s Reticence”, Newsmax – Independent American, July 4, 2016.
- ABI Exclusive: The Ins and Outs of the House-Passed PROMESA Bill, ABI Journal, July, 2016.
- Puerto Rico Debt-Restructuring Law Voided by U.S. Supreme Court, Microjuris.com, June 16, 2016.
- Named, “P.R. Government’s Ratio of Debt Service to Revenue of 35% is Deceptive, Critics Say”, Caribbean Business, May 12, 2016.
- Author with Jorge San Miguel, Esq., “Legislative Update: Proposed Puerto Rico Recovery Law – PROMESA”, American Bankruptcy Institute (ABI), May 2016.
- Author with Jorge San Miguel, Esq., “Puerto Rico Debt: Credibility is The Crisis”, American Bankruptcy Institute (ABI), May 2016.
- Coauthor, “Puerto Rico’s Extraordinary Case”, the Best of ABI 2014: The Year in Business Bankruptcy.
- “El Inmenso Desafío de Renegociar”, El Nuevo Día, February 2015.
- “Puerto Rico en Quiebra”, El Nuevo Día, February 2015.
- “Puerto Rico: In the Spotlight”, ABI Journal, April 2015.
- “Puerto Rico: Still in the Spotlight,” ABI Journal, June 2015.
- The International Comparative Legal Guide to Corporate Recovery & Insolvency 2014 (Puerto Rico), 8th Edition, published by Global Legal Group Ltd., London.
- Puerto Rico: on the Verge of Default, IWIRC 2015 Convention.
- The International Comparative Legal Guide to Corporate Recovery & Insolvency 2015 (Puerto Rico), 9th Edition, published by Global Legal Group Ltd., London.
- Restructuring and insolvency in Puerto Rico: overview, Practical Law – Global Guide 2015/16 – Restructuring and Insolvency.
- The International Comparative Legal Guide to Corporate Recovery & Insolvency 2016 (Puerto Rico), 10th Edition, published by Global Legal Group Ltd., London.
Education
- University of Puerto Rico School of Law, J.D., magna cum laude, 1997
- Georgetown University, B.S. in Foreign Service, cum laude, 1994
- Massachusetts Institute of Technology’s Minority Introduction to Engineering and Science (MITES) Program, 1989
Bar Admissions
- State of Florida
- Commonwealth of Puerto Rico
- U.S. and Puerto Rico Supreme Courts
- U.S. Court of Appeals for the First and Eleventh Circuit
- U.S. District Court for the Northern, Middle and Southern Districts of Florida
- U.S. District Court of Puerto Rico
- U.S. Bankruptcy Court for the Middle and Southern District of Florida
- U.S. Bankruptcy Court of Puerto Rico
- U.S. Court of International Trade
- United States District Court Eastern District of Wisconsin
- United States District Court for the Eastern District of Texas
- United States District and Bankruptcy Courts for the District of Columbia
Affiliations
- Florida Bar Association, Business Law Section
- American Bankruptcy Institute, Advisory Board of Caribbean Insolvency Symposium
- Puerto Rico Bar Association
- Central Florida Bankruptcy Law Association
- International Women’s Insolvency & Restructuring Confederation, Chair PR Chapter
- Turnaround Managers Association
- Orange County (Florida) Bar Association
- Hispanic Bar Association of Central Florida
- Hispanic Chamber of Commerce
- Ninth Judicial Circuit Court of Florida, Member, Planning Committee of the Business Law Section Diversity Programming-Orlando Trial Skills Seminar
- Hispanic National Bar Association, Chair of Task Force on Puerto Rico
Professional Recognition
- Certified in Business Bankruptcy by the American Board of Certification since 2007.
- Sonia has been recognized in the 2017, 2019 and 2020 Latin America Edition of Chambers & Partners as a Leading Individual in Bankruptcy Law.
- Inclusion in the Seventh Edition of The Best Lawyers in Puerto Rico for the work in Insolvency and Reorganization Law.
- Certified by The Fund as Policy Issuing Agent of Old Republic National Title Insurance Company.
- She has been featured In the Orlando Style Magazine’s “Orlando’s Top Women in Law”, June 2020 issue, featuring Central Florida’s most respected attorneys of distinction. (https://orlandostylemagazine.com/sonia-e-colon/)
- Certificate of Appreciation by The World Bank Group in appreciation of contribution to Doing Business 2021.
- Certificate of Appreciation by The World Bank Group in appreciation of contribution to The Global Indicators Group 2021.
