Elizabeth A. Orelup, Retired Partner


Liz Orelup represented lenders, borrowers, buyers, sellers, and other parties in commercial lending and leasing transactions (including secured transactions, syndicated credit facilities, ABL facilities, and mezzanine debt), other commercial transactions, and distressed credit matters and bankruptcy. Liz had comprehensive experience in representing private equity and strategic buyers in acquisition financing transactions and a variety of other commercial loan transactions. Following private equity acquisition transactions, she worked closely with the portfolio companies in all aspects of their financing and credit needs.

Liz worked with manufacturing companies and their financing affiliates to provide financing to customers, suppliers, and distributors; develop loan documentation and procedures for national financing programs; and advise lenders and borrowers with respect to covenant compliance matters. She also provided strategic advice on—and negotiates and documents—early termination of financing leases and amendments, consents, default waivers, and other covenant compliance matters. Liz advised a broad array of businesses on UCC secured transactions (Article 9) issues that impact their interests.

Liz began her legal career as a bankruptcy lawyer in the economic recession and financial industry crisis of the early 1980s and continued to advise creditors and distressed borrowers in connection with workouts, restructurings, and bankruptcy matters.

Liz was the former national chair of Quarles & Brady's Business Law Practice Group and former chair of the firm's Opinions Committee.

Education and Honors

  • University of Iowa College of Law (J.D., 1980)
    • Order of the Coif
    • Iowa Law Review
  • Lawrence University (B.A., 1975)

Bar Admissions

  • Wisconsin

Professional and Civic Activities

  • Working Group on Legal Opinions Foundation (Member: Board of Directors)
  • Junior Achievement of Wisconsin (Member: Board of Directors, 2010-2017)
  • Bishop of the Episcopal Diocese of Milwaukee (Chancellor, 1994–2006)
  • Milwaukee Bar Association (Member)
  • American Bar Association (Member)
  • State Bar of Wisconsin (Member)
  • Milwaukee Women inc (Member: Steering Committee, former Board of Directors 2009-2013)

Professional Recognition

  • Named a 2017 Woman in the Law by Wisconsin Law Journal
  • Named a Woman of Influence by The Business Journal of Milwaukee (2014)
  • Listed in The Best Lawyers in America® (2007–present: Corporate Law)
  • Martindale-Hubbell AV® Peer Review Rated
  • Honored in 2008 as one of 20 statewide Leaders in the Law by the Wisconsin Law Journal for her contributions to the Law as an accomplished transactional attorney and as a mentor and advocate in fostering the career successes of other women, both in the legal world and in other professions, through her long-term involvement in a number of organizations dedicated to promoting the advancement of women's issues and gender diversity
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