Areas of Practice
Industries
Bar Admissions
- Michigan, 1986
Court Admissions
- U.S. Court of Appeals, 6th Circuit, 1986
- U.S. District Court, Eastern District of Michigan, 1986
- U.S. District Court, Western District of Michigan, 1986
- U.S. Supreme Court, 1996
Education
Wayne State University, J.D., cum laude
- Order of the Coif
- Law Review
Michigan State University, B.A.
Sheryl Toby (Member) has substantial experience in two unrelated fields. First she regularly advises manufacturing entities (such as automotive clients) in a wide variety of day-to-day supply chain matters. In both traditional and advanced technology manufacturing, she focuses on legal requirements within the context of practical application. She works closely with purchasing groups, in-house legal, finance and other business teams in developing strategy for addressing business challenges that intersect operational and legal issues. Her vast experience spans across matters such as, development of unique collaborative agreements in advanced vehicle manufacturing, front end procurement contracting best practices and addressing "stop-ship," financially troubled suppliers and other litigation threats. She is often called upon by entities to strategize with and lead experts in a variety of other disciplines to address unique challenges faced by companies in highly regulated manufacturing based industries including, for example, internal investigations of safety issues and other matters. Second, Ms. Toby is a prominent bankruptcy and restructuring attorney with over 30 years of experience. She is known for her creative approach in providing solutions for creditors, debtors and lenders addressing financial challenges. Ms. Toby has been involved in numerous significant bankruptcy cases throughout the country and is a frequent speaker and media consultant in her fields.
Seminars & Speeches
- July 22, 2020
- On Cruise Control or Approaching a Detour? Current Issues for Automotive Distress, ABI Web SeminarNovember 19, 2019
- Best Practices for Customers in Managing Distressed Supplier Risks, OESA Chief Purchasing Officers Council Meeting, Southfield, MINovember 7, 2019
- Plan and Confirmation Issues: RSAs, Third-Party Releases, Valuation, Classification and Gifting, ABI Annual Spring Meeting, Washington, D.C.April 13, 2019
- The Unique World of Automotive Supplier Financial Distress and Bankruptcies, ABA Business Bankruptcy Committee WebinarJanuary 23, 2019
- Six Simple Rules for In-House Counsel to Avoid Most Hidden Insolvency Risks in Commercial Transactions, ABA Business Law Section Annual Meeting, Austin, TexasSeptember 14, 2018
- Key Trends and Issues in the Automotive Sector, ABI 14th Annual Mid-Atlantic Bankruptcy Workshop, Hershey, PennsylvaniaAugust 3, 2018
- Department of Commerce’s Cross-Cultural Special American Business Internship Training Program, Presenter on manufacturing supply chainApril 2017
- What you see may not be what you get when the deal goes bad, Panelist, ABA Business Law Section Spring Meeting, Montreal, CanadaApril 8, 2016
- Traps for the Unwary, ABA Business Law Section, Annual Meeting presented by the New and Emerging Legal Issues Sub-Committee, Chicago, IllinoisFall 2015
- The Intersection of Ethics and Discovery (What Attorneys Need to Know), Panel Moderator, American Bankruptcy Institute's 22nd Annual Central States Bankruptcy WorkshopJune 13, 2015
- Automotive: Managing the Ups and Downs of the Business Cycle, Crain's Detroit Business General & In-House Counsel SummitJune 10, 2015
- A 180º Strategy for the New Troubled Supplier, 2013 Motor Vehicle Metals & Resins Conference, Troy, MichiganMay 23, 2013
- Are Capacity Constraints Paralyzing Your Supply Chain?, Automotive News Power Training, Panelist on WebinarApril 16, 2013
- "I'm Shocked - Shocked! - to find that Unethical Conduct is Going On in Here!": A Tale of Ethics in Bankruptcy, ABI Winter Leadership Conference, Panel Discussion on Ethics, Tucson, ArizonaNovember 29-December 1, 2012
- American Bankruptcy Institute's Mid-Level Professional Development Program, New York CityNovember 9, 2012
- Alternatives to Chapter 11, 85th Annual National Conference of Bankruptcy Judges, Tampa FL (Panel moderator)October 14, 2011
- Senior Lenders and Their Strategic Alternatives in Restructuring Situations: Loan Modifications, Out-of-Court Workouts, 363 Sales, Chapter 11 Plans and Other Options, ABI Annual Spring Meeting, National Harbor, MDApril 29, 2010
- New Wave of Litigation—Fraudulent Transfers, Broken Commitments, Failure to Fund, Lack of Good Faith, ABI 27th Annual Spring Meeting, Spring Harbor, MD2009
- Auto Industry Panel, ABI New York City Bankruptcy Conference, New York, NY (Panel member)June 16, 2009
Publications
- May 13, 2020CFO
- May 13, 2020CFOhttps://www.cfo.com/bankruptcy/2020/05/saving-midmarket-closely-held-companies-with-traditional-workouts/
- March 5, 2020NextGen Financial Services Reporthttps://www.nextgenfinancialservicesreport.com/2020/03/bankers-are-you-having-the-right-conversations-with-your-customers-around-covid-1/
- March 4, 2020The Open Road - Automotive Law Bloghttps://www.openroadlawblog.com/2020/03/how-customers-in-the-automotive-supply-chain-can-prepare-for-distressed-suppliers-resulting-from-covid-19/
- August 26, 2019Business Law Todayhttps://businesslawtoday.org/2019/08/effectiveness-contractual-receivership-clauses-operating-companies/
- January 10, 2019Business Law Todayhttps://businesslawtoday.org/2019/01/five-simple-rules-house-counsel-avoid-hidden-insolvency-rabbit-hole-commercial-transactions-practical-guide/
- February 2018Manufacturing Today
- "Doing the Deal Right: Mitigating the Threat of Insolvency Before It’s Too Late"September 23, 2016Business Law Today
- 2012 Automotive Institute Survey ResultsOctober 17, 2012Dykema Publication
- July 3, 2011Autobeat Insider Perspectives
- "Managing Relations with Insolvent Customers: How To Get Paid and Keep the Money"June 2009Supply & Demand Chain Executive
- "How to Avoid Supply Chain Disruptions"December 2005Logistics Today
- "What Do You Mean, I Can't Assume My Intellectual Property License?: Avoiding the Pitfall of Section 365(c)"November 2004Daily Bankruptcy Review
- "Bankruptcy Can Resolve Difficult Business Issues"August 2002Michigan Lawyers Weekly
- "Finding Assets"Spring 2002NabTalk
News
- July 20, 2020
- January 22, 2019
- September 4, 2018
- August 8, 2018
- March 19, 2018
- February 8, 2018
- Aired dates of March 5, 2017 and March 11, 2017
- September 23, 2016
- August 26, 2016
- July 28, 2016
- April 27, 2016
- March 17, 2016
- February 28, 2016
- June 17, 2015
- May 19, 2015
- Shares Moderator’s Perspective on Key Themes from ABI Panel Discussion on Municipal BankruptciesJune 3, 2014
- Dykema Bankruptcy Specialist Will Serve as Moderator for Discussion of Municipal Bankruptcy IssuesApril 7, 2014
- Twenty-Three Other Dykema Lawyers Identified as Rising StarsSeptember 5, 2013
- Will Discuss How Troubled Suppliers Can Put Supply Chain at RiskApril 22, 2013
- Will Examine How Troubled Suppliers Can Put Entire Supply Chain At Risk; Will Provide Practical Solutions to Deal with These IssuesApril 9, 2013
- Initial Focus on Core Functions Should Help Emergency Manager Elicit Support from Residents, BusinessesMarch 18, 2013
- Session Will Use Chapter 11 Role-Play To Showcase Real-World Ethical IssuesNovember 16, 2012
- November 7, 2012
- Will Provide Practical Advice, Career Advancement Insights with Up-and-Coming Industry PractitionersNovember 2, 2012
- Auto Industry Shows Signs of Recovery but OEMs and Suppliers Still Face Challenges in Supply Chain Management, Litigation and Privacy Issues Related to Connected Vehicles TechnologyOctober 17, 2012
- June 15, 2012
Alerts
- Proactive Analysis and Protocols Can Reduce Costs and Better Ensure Continuity of SupplyMarch 6, 2020
- August 29, 2018
- December 14, 2015
- Auto Industry Continues Recovery, but Supply Chain Issues, Threat of Class Actions and Privacy/Security Issues Related to Connected Vehicle Technology Pose Serious ChallengesOctober 19, 2012
- September 13, 2011
- May 25, 2011
- May 4, 2011
- April 27, 2011
- March 26, 2010
- March 18, 2010
Press Releases
- September 18, 2020
- 18 Attorneys Earn “Lawyer of the Year” HonorsAugust 20, 2020
- August 22, 2019
- 18 Attorneys Earn “Lawyer of the Year” HonorsAugust 15, 2019
- September 7, 2018
- 13 Attorneys Earn “Lawyer of the Year” HonorsAugust 15, 2018
- September 5, 2017
- 10 Attorneys Receive “Lawyer of the Year” HonorsAugust 15, 2017
- Attendees Were Part of the U.S. Department of Commerce’s Cross-Cultural Special American Business Internship Training ProgramApril 11, 2017
- September 1, 2016
- 14 Attorneys Receive “Lawyer of the Year” HonorsAugust 15, 2016
- November 16, 2015
- September 8, 2015
- 12 Attorneys Receive “Lawyer of the Year” HonorsAugust 18, 2015
- November 20, 2014
- September 2, 2014
- Firm Receives 10 “Lawyer of the Year” HonorsAugust 18, 2014
- Nearly One in Four Dykema Practitioners Earn Distinction; Seven Merit “Lawyer of the Year” HonorsAugust 16, 2013
- While Automotive Industry Shows Signs of Recovery, OEMs and Suppliers Confirm Challenges Are Ahead By Way of Raw Material Costs, Natural Disasters and Emerging TechnologiesOctober 17, 2012
- More Than One in Four Dykema Practitioners Earn DistinctionAugust 23, 2012
- September 9, 2010
- May 13, 2009
- April 28, 2009
Blog Posts
Memberships & Involvement
- ABA Section of Business Law, Co-Vice Chair of Business Transactions Subcommittee, 2014-Present
- American Bankruptcy Institute Board of Directors, Education Committee, 2008-2012
- ABI Commercial Fraud Task Force Committee, Co-Chair, 2007 and 2008
- American Bankruptcy Institute Central States Division Conferences, Program Chair, 2004-2008
- International Women's Insolvency/Restructuring Confederation Member, Michigan Network, Founder and Former Chair of Local Chapter
- American Bar Association, Use and Disposition of Property Subcommittee of the Business Bankruptcy Committee, Vice-chair
- Detroit Metropolitan Bar Association, Section of Debtor/Creditor, Vice-chair, 1997-1998
- United States Bankruptcy Court, Eastern District of Michigan, Advisory Committee, Member, 1997-1998
- American Bar Association, General Practice Section, Vice-Chair, 1992-1993
- Federal Bar Association
- Turnaround Management Association
- State Bar of Michigan
Awards & Recognition
Named to "Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers," 2020
Recognized in The Best Lawyers in America® for Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Bankruptcy Litigation, 2007-Present. Copyright 2015 by Woodward/White, Inc., Aiken, SC
Named a Michigan Leading Lawyer in the areas of Bankruptcy & Workout: Commercial and Creditor's Rights/Commercial Collections Law by the Leading Lawyers Network, 2014-2017. Law Bulletin Publishing Company
Named a Top Lawyer by dbusiness Magazine for Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization and Bankruptcy Litigation, 2010-2013, 2015-2016, 2018
Recognized in Michigan Super Lawyers® for Business/Corporate, Bankruptcy: Business, and Creditor Debtor Rights: Business, 2007-2008, 2010-Present
Recipient of an AV® Preeminent™ Rating by Martindale-Hubbell, 2013
Bar Register of Preeminent Women Lawyers, Martindale-Hubbell, 2011
Selected as one of Crain's Detroit Business' "40 Under 40"
Honorable mention as one of the country's Outstanding Young Bankruptcy Professionals by Turnaround and Workout Publications
Featured in Insolvency & Restructuring Section of the Guide to the World's Leading Women in Business Law
Recipient of Martindale-Hubbell® AV® Preeminent™ Peer Review Rating