• Daniel M. Eggermann represents significant parties, including distressed investors, bank debt holder and bondholder groups, creditors’ committees, independent directors of debt issuers, and other parties in interest, in complex Chapter 11 bankruptcy cases, out-of-court restructurings and other distressed situations. Daniel advises reorganized companies and their investors on a comprehensive range of corporate issues, and regularly counsels market participants in connection with credit default swaps.

    Among his recent bankruptcy work, Daniel currently represents an ad hoc group of first lien lenders in connection with the Chapter 11 proceedings commenced by Diamond Sports Group and certain of its affiliates who own a portfolio of regional sports networks with exclusive broadcasting rights to 42 professional sports teams, including NBA, MLB and NHL teams. Daniel currently advises clients with respect to pending crypto currency bankruptcy proceedings, including crypto lenders/borrowers, customers and claims purchasers, in cases including FTX, Celsius and Voyager. Daniel also recently advised an ad hoc committee of governmental entities holding opioid-related claims in connection with the Chapter 11 proceedings commenced by Mallinckrodt plc, one of the largest manufacturers and distributors of opioids. Daniel also represented the official committees of unsecured creditors appointed in the Chapter 11 restructuring of Eagle Hospitality, a hotel real estate investment trust; in the balance sheet and fleet restructuring of the Bristow Group, one of the world’s leading industrial aviation service providers; in the Chapter 11 bankruptcy of California Pizza Kitchen; and in the Chapter 11 bankruptcy of Forever 21 and its affiliates, a leading retailer of “fast fashion” for women and men with more than 800 stores in more than 40 countries. Daniel also represented an ad hoc group of first lien noteholders holding in excess of $3.5 billion of first priority senior secured bonds issued by Caesars Entertainment Operating Co. in the Caesars bankruptcy proceedings. He also continues to serve as U.S. counsel to Lehman Brothers Treasury Co. BV, the Dutch financing arm of Lehman Brothers that issued more than $34 billion in notes.

    Daniel’s work in the credit default swaps marketplace includes advising market participants on swaps issued on Sears, Windstream and Thomas Cook. He was part of the Kramer Levin team that represented members of the ISDA determinations committee in front of the External Review Panel convened in connection with the Sears credit event, securing a precedent-setting “yes” decision in the landmark Sears CDS case.

    Experience

    • Diamond Sports Group – Representing an ad hoc group of first lien lenders in connection with the Chapter 11 proceedings commenced by Diamond Sports Group and certain of its affiliates. Diamond Sports Group is a subsidiary of Sinclair Broadcasting and owns a portfolio of regional sports networks with exclusive broadcasting rights to 42 professional sports teams, including NBA, MLB and NHL teams. Diamond Sports also holds joint venture interests in the local networks for the Chicago Cubs, the New York Yankees and the Brooklyn Nets.

    • Crypto – Advising various parties, including crypto lenders/borrowers, customers and claims purchasers with respect to issues arising in connection with the various crypto bankruptcy cases including FTX, Celsius and Voyager.

    • Mallinckrodt plc – Represented the Ad Hoc Committee of seven states’ attorneys general and the Plaintiffs Executive Committee in the multidistrict opioid litigation. The representation included restructuring and settlement negotiations that culminated in the entry into a restructuring support agreement (RSA) for a Chapter 11 plan that served as the catalyst for the commencement of Mallinckrodt’s Chapter 11 cases. The RSA was executed by 50 U.S. states and territories as well as holders of 85% of Mallinckrodt’s subsidiary-guaranteed unsecured notes, and the recently confirmed Chapter 11 plan is premised upon a reorganization of the company with a $1.3 billion reduction of funded debt. Opioid Trusts, formed to effectuate distributions to holders of opioid claims, will be funded through $1.725 billion of cash payments paid over a period of eight years, warrants to purchase 19.99% of the equity of the reorganized company and various claims of the company against third parties, and will utilize a significant majority of the assets for abatement purposes – a critical issue in addressing the damage caused by the ongoing opioid epidemic.

    • Eagle Hospitality Trust (Eagle Hospitality Group) – Representation of the Official Committee of Unsecured Creditors of Eagle Hospitality Trust (Eagle Hospitality Group), which filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware on Jan. 18, 2021.

    • California Pizza Kitchen – Representation of the Official Committee of Unsecured Creditors of California Pizza Kitchen, Inc. and affiliates, which filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of Texas on July 30, 2020.

    • Forever 21 – Representation of the Official Committee of Unsecured Creditors of Forever 21, a leading retailer of “fast fashion.”

    • Bristow Group Inc. – Representation of the Official Committee of Unsecured Creditors of Bristow Group Inc., one of the world's leading industrial aviation service providers, in connection with the Company’s balance sheet and fleet restructuring. Burdened by more than $1.5 billion of financial debt, the company sought chapter 11 protection in Bankruptcy Court for the Southern District of Texas on May 11, 2019.

    • Credit Default Swaps – Representation of various market participants in connection with credit default swaps including swaps issued on Sears, Windstream and Thomas Cook. Represented certain members of the ISDA determinations committee in front of the External Review Panel that was convened in connection with the Sears credit event.

    • Brookstone – Represented the parent company in connection with Brookstone’s Chapter 11 proceedings.

    • VICI Properties – Representation of VICI Properties, a publicly traded REIT that, among other things, owns the real estate assets associated with 19 gaming facilities that are leased to and operated by affiliates of Caesars Entertainment Corp., providing general corporate and related advice. 

    • Caesars Entertainment Operating Co. – Representation of an ad hoc group of bondholders holding in excess of $3.5 billion of first priority senior secured bonds issued by Caesars Entertainment Operating Co. in connection with its and certain of its affiliates’ bankruptcy cases.

    • Dewey & LeBoeuf LLP – Representation of JPMorgan Chase Bank as collateral agent for secured creditors holding approximately $260 million of claims against Dewey & LeBoeuf.

    • Lehman Brothers – Representation of the bankruptcy trustees appointed to oversee the foreign bankruptcy proceedings commenced by certain of Lehman Brothers Holdings Inc.’s foreign affiliates, including Lehman Brothers Treasury Co. B.V. in the Netherlands, Lehman Brothers Securities N.V. in Curacao and certain other Lehman-affiliated entities located in Singapore. Collectively, those affiliates hold intercompany claims against their U.S. affiliates of approximately $40 billion.

    • Washington Mutual – Representation of an investment firm as a significant creditor in the bankruptcy proceedings commenced by Washington Mutual Inc.

    • Southern Connector – Representation of U.S. Bank as indenture trustee for more than $200 million of senior toll road revenue bonds in connection with the Chapter 9 bankruptcy proceeding commenced by Connector 2000 Association, Inc.

    • Ambac – Representation of a group of bondholders holding special project revenue bonds issued by the Las Vegas Monorail Co. that were insured by Ambac Assurance Corp. in connection with Ambac’s rehabilitation proceedings.

    • R&S Strauss – Representation of Autobacs Seven Co. Ltd., in connection with the Chapter 11 case and litigation commenced by its former subsidiary Autobacs Strauss Inc. – former operator of the Strauss Discount Auto chain.

    • Lyondell – Representation of an investment firm as a significant creditor in the bankruptcy proceedings commenced by Lyondell Chemical Co. and certain of its affiliates.

    • ASARCO LLC – Representation of a group of bondholders holding a majority of the bonds issued by Asarco LLC in connection with Asarco’s Chapter 11 bankruptcy case.

    • United Airlines – Representation of the indenture trustee for more than $75 million in Los Angeles International Airport facilities bonds in connection with appellate proceedings arising out of the UAL bankruptcy cases.

    • Steve & Barry’s – Representation of founders Steven Shore and Barry Prevor in connection with bankruptcy proceedings commenced by Steve & Barry’s department stores.

    • Salander-O’Reilly Galleries – Representation of Stanley Moss & Co. Inc. in connection with disputes over ownership of certain pieces of artwork arising out of the chapter 11 bankruptcy case commenced by the Salander-O’Reilly art gallery.

    • Nortel – Representation of a purchaser in connection with a sale of assets in connection with the bankruptcy proceedings commenced by Nortel Networks and certain of its affiliates.

    Credentials

    Education

    • J.D., cum laude, New York University School of Law, 2002
    • B.A., Criminal Justice, magna cum laude, LIU Post, 1998

    Bar Admissions

    • New York

    Court Admissions

    • U.S.D.C., Eastern District of New York
    • U.S.D.C., Southern District of New York
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