Core Values in Action

"The values of Freeborn & Peters – integrity, caring, effectiveness, teamwork and commitment – make its lawyers that much better."

Shira Isenberg is Senior Counsel in the Bankruptcy and Financial Restructuring Practice Group. She has significant experience in all aspects of complex bankruptcy and out-of-court workout matters, including representation of committees, secured creditors and commercial debtors.

Before joining Freeborn, she was an Associate in the Bankruptcy group at Goldberg Kohn Bell Black Rosenbloom & Moritz and at Latham & Watkins. Shira also served as a Judicial Extern to the Hon. Barry Russell, U.S. Bankruptcy Court, in Los Angeles, California.

Representative Matters

  • Represented the Official Committee of Unsecured Creditors of Wagstaff Minnesota, Inc. and worked closely with counsel to Wagstaff to maximize the value of general unsecured claims, including asset sales, investigating the security interests of Wagstaff’s secured creditors and efforts to avoid the potentially devastating impact of certain agreements between Wagstaff and KFC.
  • Represented the Official Committee of Unsecured Creditors of broom purveyor Harper Brush Works and successfully facilitated the sale of Harper's operating assets to Cequent Consumer Products during the course of Harper's chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of Iowa.  For more information, please see: "Freeborn Helps Facilitate Sale of Harper Brush Works Operating Assets".
  • 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.
  • Currently representing the Official Committee of Unsecured Creditors of New Energy Corp., the owner and operator of a 100 million gallon ethanol plant located in South Bend, Indiana. Represented the Committee through a competitive sale and auction process for the debtor pursuant to section 363 of the Bankruptcy Code, and currently formulating a joint plan of liquidation with the debtor to maximize recoveries for general unsecured creditors.
  • Represented Official Committee of Unsecured Creditors in In re Giordano’s Enterprises, Inc. (Bankr. N.D. Ill.).
  • Represented Official Committee of Unsecured Creditors in In re Schwab Industries, Inc., et al. (Bankr. N.D. Ohio).
Publications: 
  • Co-author, "Clarity in Gifting Doctrine Is Elusive," The Journal of Corporate Renewal (April 2011).
  • Co-author, "Last in Line: Landlords Use Letters of Credit to Bypass the Claim Cap of § 502(b)(6)," American Bankruptcy Institute Journal (Dec./Jan. 2002).
  • Co-author, "Post-Petition Financing," Chapter 12, Business Bankruptcy Practice - IICLE (2006).

Education

J.D., University of California, Los Angeles School of Law, Chief Managing Editor, UCLA Law Review
B.A., University of California, Berkeley, with high distinctions, Phi Beta Kappa

State Bar Admissions

  • Illinois

Federal Bar Admissions

  • United States Court of Appeals for the Seventh Circuit
  • United States District Court for the Northern District of Illinois