David A. Agay

Manufacturing, Industrial, and Retail

• AmeriMark Interactive, LLC – Represent catalog based direct marketing business, selling apparel and footwear, furniture and home décor, general merchandise, health, beauty and wellness products, and garden products for the U.S. 50-and-older market, in its chapter 11 bankruptcy cases.  AmeriMark had total revenues of more than $850 in 2020-2021, before dropping to approximately $475 million in 2022, with total liabilities of approximately $400 million.
• Independent Pet Partners –Represent e-commerce platform and coast-to-coast chain of 160 stores offering one-stop pet experience with healthy, high-quality food products and treats and a range of pet services in its chapter 11 bankruptcy cases.  IPP operated under four unique regional banners -- Chuck and Don’s, Kriser’s Natural Pet, Loyal Companion, and Natural Pawz – and had $220 million in net sales in 2022.  Through the chapter 11 cases, IPP completed a going-concern sale to its lender group, and anticipates confirmation of a chapter 11 plan of liquidation.
• Aearo Technologies LLC– Represent the Disinterested Directors of Aearo Technologies LLC and its debtor affiliates in their chapter 11 bankruptcy cases.  Aearo is a market leader in the energy control space, providing custom noise, vibration, thermal, and shock protection solutions to the aerospace, commercial vehicle, heavy equipment, and electronics industries.  Aearo and its non-Debtor parent, 3M, are defendants in the largest multi-district litigation in history, with over 230,000 personal injury claims filed related to certain historical Aearo products.
• Right/Pointe, LLC – Represent provider of concrete and asphalt maintenance products to concrete and road construction professionals in its out-of-court restructuring, sale, and wind-down.
• KL Outdoors and GSC Technologies – Represent manufacturers of kayak, storage and organization, and other injection molded products in their out-of-court restructurings, sales, and wind-downs in the U.S. and Canada. 
• NetShape Technologies – Represent manufacturer of powder metal products and metal injection molding components in its sale to Metal Powder Products LLC. 
• Werthan Packaging – Represent strategic buyer in its stalking horse bid and acquisition of substantially all the assets of Werthan Packaging out of bankruptcy.
• Country Stone Holdings, Inc. – Represent Official Committee of Unsecured Creditors in chapter 11 bankruptcy case of manufacturer, processor, and packager of lawn and garden products (such as mulch, soil, fertilizer, plant food, organics, concrete, and decorative stone).
• Kurz-Kasch – Represent in its out-of-court restructuring leading manufacturer of conventional coils and stators, engineered composite components and subassemblies, magnetic/electrical/electronic sensing devices, and high performance solenoids.
• Keywell, LLC – Represent Official Committee of Unsecured Creditors in chapter 11 bankruptcy case of leading supplier of recycled titanium, high-temperature alloys and stainless steel in North America.
• MEGA Brands Inc. – Represent Canadian toy manufacturer in its chapter 15 bankruptcy cases and as U.S. counsel in its recapitalization implemented through a Canadian plan of arrangement.
• Norwood Promotional Products – Represent Norwood, a leader in the market of customizable corporate merchandise, including calendars, writing instruments and awards, in its chapter 11 bankruptcy cases and 363 sale of the business as a going concern.
• Fortis Plastics – Represent leading manufacturer of produced thermoplastic injection and extrusion molded plastic parts for manufacturers in several industries, including home appliance, furniture, automotive, building products, medical devices and power tools, in its out-of-court restructuring and wind down.
• Jason, Inc. – Represent financial sponsor in the out-of-court recapitalization and balance-sheet restructuring of a leading international manufacturer of consumer, automotive, and industrial products.
• Portola Packaging, Inc. – Represent leading designer, manufacturer, and marketer of plastic closures, bottles, and related equipment in its  balance-sheet restructuring and chapter 11 prepackaged bankruptcy cases. 
• Tekni-Plex – Represent financial sponsor, in the out-of-court restructuring of Tekni-Plex, a major consumer and industrial packaging manufacturer.
• Euro-Pro – Represent household products company in its involuntary bankruptcy proceedings (eventually dismissed) and out-of-court restructuring.
• TSC Global, LLC – Represent company involved in the sale, marketing, and distribution of consumer brand products, including “e-cigarettes,” to top retailers, travel centers, and truck stops, in its out-of-court restructuring, wind down, and two UCC Article 9 sales.
• Hess Industries, Inc. – Represent manufacturer of heavy equipment and metal forming machines in its out-of-court restructuring and eventual chapter 7 filing.
• Hussey Copper, Ltd. – Represent strategic stalking horse purchaser in proposed acquisition of leading producer of copper bar.
• Lang Holdings Inc. – Represent private equity client, as provider of DIP financing and stalking-horse purchaser of substantially all assets of Lang Holdings, a leading supplier of art and design driven calendars, back-to-school products, greeting cards, stationary, and specialty products.
• Propex Inc. – Represent private equity client in its debtor-in-possession financing and stalking-horse purchase of substantially all assets of the world's largest producer of geosynthetic, concrete, furnishing, and industrial fabrics and fiber.
• Global Home Products – Represent private equity client in its section 363 purchase of Anchor Hocking from Global Home Products.
• Service Merchandise Company, Inc. – Represent joint venture in purchase of Service Merchandise’s lease designation rights.
• ASARCO LLC – Represent bondholder group in negotiating complex global settlement eventually incorporated into confirmed chapter 11 plan, and in formulating bid for certain assets of ASARCO, a leading U.S. copper producer.
• LyondellBasell Industries – Represent bondholder group in connection with chapter 11 plan and related rights offering of LyondellBasell, the third largest independent chemical company in the world.

Media, Entertainment, and Communications

• Intelsat S.A. – Represent the Special Committee of the Board of Intelsat S.A. in connection with Intelsat’s Chapter 11 case in the United States Bankruptcy Court for the Eastern District of Virginia. Intelsat and its affiliates had approximately $14.7 billion in funded debt as of its Chapter 11 filing and operate the world’s largest satellite fleet and connectivity infrastructure, and provide diversified communication services to many of the world’s leading media companies, telecommunications operators, Internet service providers, and the United States government and military.
• WAVE Electronics, Inc. – Represent the nation’s largest independent electronics distributor in its out-of-court restructuring, sale, and wind-down.
• Sun-Times Media Group, Inc. – Represent publisher, printer, and distributor of newspapers in greater Chicago metropolitan area, including the Chicago Sun-Times, in its chapter 11 bankruptcy cases and 363 sale of the business as a going concern.
• Musicland Holding Corporation – Represent entertainment retailer in its chapter 11 bankruptcy cases.
• HiT Entertainment PLC – Represent HiT Entertainment PLC in connection with an out-of-court amendment of the company's secured indebtedness. HiT was the owner of popular children's entertainment properties such as Bob the Builder, Barney, Thomas & Friends, Pingu, Fireman Sam and Angelina Ballerina.
• Source Interlink Companies – Represent leading publisher and wholesaler of magazines and home entertainment products, including CDs and DVDs, in its balance-sheet restructuring and prepackaged chapter 11 bankruptcy cases.
• InPhonic Inc. – Represent private equity client as provider of debtor-in-possession financing and stalking-horse purchaser of substantially all the assets of InPhonic, Inc., a leading marketer of wireless telephone and satellite television services.
• Regent Communications – Represent private equity client as plan sponsor in pre-arranged chapter 11 bankruptcy cases of Regent Communications, owner and operator of radio stations in mid-sized markets across the United States.

Transportation

• Nordic Aviation Capital – Represent Independent Directors of Nordic Aviation Capital A/S in the prearranged chapter 11 cases of Nordic Aviation Capital Designated Activity Company and its subsidiaries filed in the United States Bankruptcy Court for the Eastern District of Virginia.  NAC, an Irish company, is the largest regional aircraft lessor in the world, with more than 475 aircraft.  With over $7.7 billion in liabilities, NAC was the largest chapter 11 filing in 2021.
• Sea Containers – Represent the Sea Containers group, a leading London-based marine container leasing company, in its chapter 11 bankruptcy cases and global restructuring. The Sea Containers case involved confirmation of a chapter 11 plan, along with reorganization plans in multiple non-U.S. jurisdictions, including Bermuda.
• United Air Lines, Inc. – Assisted in all aspects of United’s chapter 11 bankruptcy cases, including aircraft finance, union, retiree, and employee benefit matters, and customer loyalty programs.

Automotive

• Automotive Suppliers – General corporate counsel to multiple second and third-tier, private-equity backed automotive suppliers and manufacturers.
• JD Norman Industries, Inc. – Represent diversified manufacturer of metal components and systems in its out-of-court sale and wind down.
• Dura Automotive – Represent leading independent automotive supplier in its chapter 11 bankruptcy cases.
• Autocam Corporation – Represent leading manufacturer of precision components for primarily the automotive and medical device industries in its out-of-court balance sheet restructuring.
• Raybestos PowerTrain LLC – Represent private equity client in its acquisition of one of the world’s largest manufacturers of transmission and wet-wheel brake friction products, supplying both OEMs and automotive aftermarket customers.
• Metaldyne Corporation – Represent a secured lender group in its successful credit bid for substantially all assets of Metaldyne, a leading global manufacturer of highly engineered metal components for the global light vehicle market.

Healthcare

• Pipeline Health System, LLC – Represent Disinterested Directors of Pipeline Health System, LLC and its affiliates in their chapter 11 bankruptcy cases.  Pipeline operates seven “safety net” hospitals, three health clinics and three medical group centers across California, Texas, and Illinois, including Weiss Memorial Hospital and West Suburban Medical Center in Chicago.  Pipeline Health came into the chapter 11 proceedings with a plan of reorganization seeking to restructure over $600 million of funded debt obligations.
• Invacare Corporation – Represent Invacare Corporation and its affiliates in their chapter 11 bankruptcy cases.  Invacare is a recognized market leader in designing, manufacturing, and distributing medical equipment used in non-acute (or maintenance) care settings to help individuals move, rest, and perform essential hygiene functions.  Invacare entered into the chapter 11 process with a restructuring support agreement that would deleverage the capital structure by approximately $240 million.
• Park Place Christian Community of Elmhurst – Represent continuing care retirement community in pre-negotiated chapter 11 bankruptcy, which restructured over $150 million in bond debt.
• CCRCs and Nursing Home – Represent numerous owners and operators in out-of-court restructurings and in federal and state court receiverships.
• Elements Behavioral Health – Represent joint venture in providing DIP financing and acquiring leading operator of addiction treatment facility out of bankruptcy.

Real Estate, Construction, Leasing, and Services

• Construction Firm – Represent shareholder of Midwest-based contractor focused on industrial projects in out-of-court restructuring and workout with senior lender.
• Subprime Auto Lender – Represent subprime auto lender in its out-of-court workout.
• TOUSA, Inc. – Represent publicly traded homebuilder with substantial operations in Florida, the Mid-Atlantic, Texas, and the West, doing business under trade names, including Newmark, Engle Homes, and Trophy Homes, in its out-of-court restructuring and chapter 11 bankruptcy cases.
• Cambridge Integrated Services Group, Inc. – Represent assignee in Illinois assignment for the benefit of creditors for national company specializing in risk management, claims services, and specialty loss cost management.
• Risk Management Alternatives, Inc. – Represent leading provider of accounts receivable management services in its chapter 11 cases.
• National Equipment Services, Inc. – Represent national equipment leasing corporation in all aspects of its chapter 11 bankruptcy cases and restructuring.
• American Business Financial Services, Inc. – Represent DIP lender to a publicly-traded subprime lender.

Food and Restaurant

• TooJay’s Deli, Bakery, and Restaurant – Represent prepetition secured lender and stalking horse buyer in credit-bid acquisition of Florida-based casual dining restaurant and deli chain.
• Bertucci’s – Represent DIP lender and stalking horse buyer in proposed acquisition of chain of sit-down Italian restaurants. 
• Central Grocers, Inc. – Represent wholesale cooperative and its subsidiaries, including Strack and Van Til Super Market, Inc., in their chapter 11 bankruptcy cases.
• Commercial Lender – Represent commercial lender in asset based loan to retailer of beer, wines and spirits in connection with ESOP transaction.
• Awrey Bakeries – Represent Awrey Bakeries, one of the largest privately owned bakeries in the U.S. (producing fresh and frozen pastries, breads, cakes, donuts, biscuits, and muffins), in its Article 9 sale as a going concern.
• Mother's Cookies – Represent Kellogg's in its purchase of Mother's Cookies from Archway through a 363 bankruptcy sale.
• Fargo, S.A. – Represent bondholders in filing of involuntary bankruptcy petition against Compañia de Alimentos Fargo, S.A., an Argentine producer of packaged baked goods.

Energy

• Edison Mission Energy – Represent Edison Mission Energy (EME) as conflicts counsel in its chapter 11 bankruptcy case, and EME subsidiary, Camino Energy, as primary debtor’s counsel. EME, through its subsidiaries, owned, leased, and operated a portfolio of more than 40 electric generating facilities powered by coal, natural gas, wind, and biomass (with aggregate existing project indebtedness of approximately $1.5 billion), as well as an energy marketing and trading operation.
• Calpine Corporation – Represent world's largest producer of renewable geothermal energy in its chapter 11 bankruptcy case.

Gaming

• Caesars Entertainment – Represent significant equity stakeholder in the Caesars chapter 11 bankruptcy case.
• Commercial Lender – Represent commercial lending client in asset based loans to multiple gaming companies.
• Majestic Star Casino – Represent gaming company and multi-jurisdictional operator of casino properties in its chapter 11 bankruptcy cases.
• Green Valley Ranch & Aliante Station – Represent two Station Casino properties in their pre-negotiated chapter 11 cases resulting in the restructuring of almost $1.0 billion in total debt.

Municipalities

• City of Detroit – Represent Syncora Guarantee and Syncora Capital Assurance in connection with their holdings of certificates of participation in the City of Detroit and as insurers of certain swap obligations.

Representative Pro Bono Matters

• Represent prisoner in his criminal and sentencing appeal before the United States Court of Appeals for the Seventh Circuit.
• Represent political asylum applicant in immigration proceedings.

Named among Crain's Chicago's 2024 Notable Leaders in Accounting, Consulting & Law

Chambers USA, Recognized Leader in Bankruptcy/Restructuring (2021-2024)

Lawdragon 500 Leading U.S. Bankruptcy and Restructuring Lawyers (2020, 2022, 2023)

Named one of the Best Lawyers in America (2016-2024)

Selected for inclusion in Illinois Super Lawyers (2013-2022)

Selected for inclusion in Illinois Rising Stars (2008-2009, 2012)

Judicial Law Clerk for the Honorable Paul E. Riley, United States District Court for the Southern District of Illinois

Education

University of Michigan Law School

Pomona College

Admissions – Court

Admissions – State

Professional Activities

American Bankruptcy Institute

Turnaround Management Association

External News & Publications

“A Survival Guide for Middle Market Restructuring Professionals,” Journal of Corporate Renewal, September 2018 (co-author)

"Markets Party Like It's…2007?" Financier Worldwide, March 2010 (co-author)

"Crossing Borders: International Reorganizations," Daily Bankruptcy Review, February 10, 2010, (co-author)

"Credit (Bid) Where Credit's Due – Part Two," The Bankruptcy Strategist, February 2010, (co-author)

"Credit (Bid) Where Credit's Due – Part One," The Bankruptcy Strategist, January 2010, (co-author)

"International Insolvencies: New Thinking Required," The Lawyer, September 2008