Professionals

Devon J. Eggert

Partner

P: (312) 360-6305 (direct)
F: (312) 360-6520

Devon Eggert is a Partner in the Bankruptcy and Financial Restructuring Practice Group.

Devon has represented debtors, creditors’ committees, and secured and unsecured creditors in chapter 11 proceedings and in out-of-court restructurings across the United States and abroad. His practice covers all aspects of complex chapter 11 cases, including obtaining “first day” relief for debtors; debtor-in-possession financing and cash collateral issues; section 363 sale transactions; enforcement and relief from the automatic stay and related provisions; assumption and rejection of leases and contracts; and plan confirmation disputes.

In addition to his substantial restructuring experience, Devon has represented trustees and other parties in numerous liquidation cases. He also has represented both trustees and defendants in preference, fraudulent conveyance and other complex bankruptcy litigation before the U.S. Bankruptcy Courts for the District of Delaware, Southern District of New York, Northern District of Illinois, as well as numerous other jurisdictions. His industry experience includes manufacturing, food service and processing, professional services, telecommunications, technology, printing and media, automotive and aviation, real estate and financial services, among others. 

Devon also has experience in cross-border insolvency proceedings, including advising the debtors in the first chapter 15 cases filed in the District of Wyoming and the Eastern District of Wisconsin and structuring these types of complex proceedings on behalf of receivers, financial institutions and foreign representatives. Notable engagements include representing Deloitte, as receiver and foreign representative, in the chapter 15 proceeding involving CPI Plastics Ltd., an $80 million manufacturing business in the United States and Canada, in its successful going-concern liquidation under Canada’s Bankruptcy and Insolvency Act. 

Industry Bio

As a member of the Transportation and Private Equity and Venture Capital Industry teams, Devon Eggert represents debtors' and creditors' committees and secured and unsecured creditors in chapter 11 proceedings and in out-of-court restructurings across the United States and abroad. His experience also includes assisting transportation companies with liquidations, preference, fraudulent conveyance, and other complex bankruptcy litigation as well as assisting in cross-border insolvency proceedings.

Representative Matters

  • Represents the Official Committee of Unsecured Creditors of R.T. Midwest Holdings, Inc., and assisted in the effective implementation of a sale-leaseback transaction that would allow the debtors to downsize and shed its real estate assets and secured indebtedness.  Despite the secured lender’s undersecured position, Freeborn was able to secure a meaningful distribution for general unsecured creditors.

  • Represents the Official Committee of Unsecured Creditors of RWJ Management Co. and its affiliated debtor entities, which own and operate ten BP-branded motor fuel and convenience store facilities in the Chicago metropolitan area with annual revenues exceeding $125,000,000 in the aggregate.  Freeborn is currently working with the debtors’ senior secured lender to file a joint plan that contemplates the creation of a trust for the benefit of unsecured creditors and the reorganization of the debtors’ business that will be owned and operated by new management.

  • Represents the Official Committee of Unsecured Creditors of Triad Group, Inc., and is working collectively with the debtor on strategies to address these litigation claims, maximize estate value for creditors and revive Triad’s now shuttered business operations.

  • Represented Official Committees of Unsecured Creditors in In re Duke & King Acquisition, Inc. (Bankr. D. Minn.)

  • Represented Official Committee of Unsecured Creditors in In re Schwab Industries, Inc., et al. (Bankr. N.D. Ohio).

  • Represented chapter 7 trustee of Knight-Celotex, LLC, an $80 million building supply manufacturer, in its liquidation proceedings before the U.S. Bankruptcy Court for the Northern District of Illinois.

Practice Areas

Industry Team Membership

Education

  • J.D.,DePaul University College of Law,cum laude
    Executive Editor, DePaul Business and Commercial Law Journal; CALI award recipient in Commercial Paper and Copyright and Trademark Law
  • B.S.,Clemson University

State Bar Admissions

  • Illinois

Federal Bar Admissions

  • United States District Courts for the Northern and Central Districts of Illinois, Eastern District of Michigan, Eastern District of Wisconsin and District of Colorado

Honors and Awards

  • Illinois Super Lawyers - Rising Stars - 2014 (cited in multiple years)
  • Turnaround Atlas Chapter 11 Reorganization Deal of the Year, Small Mid Markets - 2014

Professional Activities

  • American Bankruptcy Institute
  • Turnaround Management Association
  • INSOL International

Recent Publications

  • Co-Author, "Recharacterization of Debt to Equity," West Commercial Bankruptcy Litigation 3d Edition, 2013.
  • Co-Author, "Chapter 15 as Strategic Alternative for Administration of U.S. Asset in Cross-Border Insolvencies,” Strategic Alternatives for Distressed Business, 2013 ed., a West Publication.
  • Co-Author, "Castleton Plaza - A Range of Implications for 'New Value' Plans," WestLaw Journal Bankruptcy, November 2013.

News

Partners Thomas Fawkes and Devon Eggert featured in Finance Monthly Magazine’s Deal of the Month

Richard S. Lauter, David C. Gustman and Devon J. Eggert were listed as the debtor counsel in a story about real estate developer OHCMC-Oswego LLC's new stalking-horse bidder, REO Funding Solutions V LLC. The article appeared on The Deal website on Aug. 8.

Freeborn & Peters Retained as Special Litigation Counsel to the Official Committee of Unsecured Creditors in the Quantum Foods, LLC Case

The Bankruptcy and Financial Restructuring Practice Group of Freeborn & Peters has been retained as Special Litigation Counsel to the Official Committee of Unsecured Creditors of Quantum Foods, LLC (“Quantum”) in the District of Delaware. Freeborn was retained to investigate, prosecute and otherwise resolve various causes of action in Quantum’s chapter 11 bankruptcy case which was filed in February, 2014. Partners Richard Lauter, Thomas Fawkes, Devon Eggert and associate Brian Jackiw will be handling the engagement.

Freeborn Bankruptcy Group Wins Turnaround Atlas Chapter 11 Reorganization Deal of the Year, Small Mid Markets

On June 24, 2014 the Bankruptcy and Financial Restructuring Practice Group won the Turnaround Atlas Chapter 11 Reorganization Deal of the Year, Small Mid Markets.

Devon Eggert, Thomas Fawkes and Tonita Helton were mentioned as counsel for the official committee of unsecured creditors concerning the reorganization plan for Choice Genetics USA LLC.

Insights

Freeborn & Peters LLP Selected as Counsel to the Official Committee of Unsecured Creditors of Choice Genetics USA, LLC

On March 19, 2014, Freeborn was unanimously selected as counsel to the official committee of unsecured creditors in the chapter

Eugene Geekie, Jr. and Devon Eggert Write about Implications for "New Value" Plans Resulting from the Castleton Plaza Circuit Court Decision

Eugene J. Geekie, Jr. and Devon J. Eggert authored "Castleton Plaza -- A range of implications for 'new value' plans," which was published in the Nov. 7, 2013, issue of Westlaw Journal Bankruptcy.

Freeborn & Peters LLP Selected as Counsel to the Official Committee of Unsecured Creditors of Empire Die Casting Co., Inc. (“Empire Die”)

On October 30, 2013, Freeborn & Peters was unanimously selected as counsel to the Official Committee of Unsecured Creditors of Empire Die Casting Co., Inc. (“Empire Die”) in the U.S. Bankruptcy Court for the Northern District of Ohio. Empire Die provides precision aluminum and zinc cast parts to a wide variety of customer specifications.

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