Devon Eggert is a Partner and Co-Leader of 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.
As a member of the Transportation and Private Equity and Venture Capital Industry teams, Devon 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.
- 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 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.
- 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).
- Illinois Super Lawyers - Rising Stars - 2019 (cited in multiple years)
- 40 Under 40, Chicago Daily Law Bulletin - 2016
- Next Generation Member, National Conference of Bankruptcy Judges - 2016
- Turnaround Atlas Chapter 11 Reorganization Deal of the Year, Small Mid Markets - 2014
- Finance Monthly Deal of the Month - September 2014
- Illinois Leading Lawyers - Emerging Lawyers - 2018 (cited in multiple years)
- American Bankruptcy Institute
- Turnaround Management Association
- INSOL International
- "Bankruptcy Litigation Roundtable," Financier Worldwide, July 2017.
- Co-author, "Recharacterization of Debt to Equity," West Commercial Bankruptcy Litigation 2d, 2016 ed.
- Co-author, "Chapter 15 as Strategic Alternative for Administration of U.S. Asset in Cross-Border Insolvencies," Strategic Alternatives For and Against Distressed Businesses, 2016 ed., a West Publication.
- Co-author, "Castleton Plaza - A Range of Implications for 'New Value' Plans," WestLaw Journal Bankruptcy, November 2013.
- "Was the Debtor Insolvent?"; West LegalEd cCenter and Financial Poise (May 2015).
- Financing the Turnaround and the Plan; American Bankruptcy Institute Central States Bankruptcy Workshop (June 2014).