- Banking and Finance
- Bankruptcy, Restructuring and Insolvency
- Corporate and Transactions
- Public Finance
Harvard Law School, J.D. 1987
The University of Chicago, A.B. 1983
- New York
U.S. District Court
- Northern District of Illinois
U.S. Court of Appeals
- Federal Circuit
Dave Schaffer has negotiated and documented a wide variety of complex transactions: mergers, acquisitions, joint ventures, dispositions, securities offerings, financings and workouts.
His varied experience includes:
Acquisitions, Dispositions, Joint Ventures and Mergers
Structuring acquisitions, dispositions and investments in U.S. and international businesses via tender offer, merger, exchange or by purchase of stock and/or assets
Banking and Financial Services
Representing lenders and borrowers in loan and related credit transactions, secured and unsecured, on a term or revolving basis
Representing indenture trustees and collateral agents in registered public offerings and private placements of debt on a worldwide basis
Bankruptcy and Workouts
Advising debtors, creditors, indenture trustees, committees and purchasers in bankruptcy filings and related transactions
Corporate and Securities
Representing issuers, underwriters and institutional purchasers (including pension funds) of corporate debt and equity of all types, in initial, exchange and follow-on offerings, as well as handling periodic and annual SEC filings
Forming and capitalizing private equity funds and joint ventures
Representing US-based and international banks and private equity funds as conduit issuers in domestic and international securitization transactions and as sponsors of off-shore hedge funds
Advising hospitals, medical centers, managed care organizations and physician groups in corporate, employment and regulatory matters
Representing investment funds and investors in the purchase, sale, exchange, leasing and development of real estate assets
Tax Exempt Financing
Representing issuers, underwriters, borrowers and trustees in bond offerings for municipalities, school districts, counties and state authorities
Multi-hospital joint venture in $6,000,000 acquisition of medical specialty practice.
U.S. Private Equity Fund in $24,200,000 leveraged acquisition of full service hotel.
U.S. Private Equity Fund in $5,700,000 leveraged acquisition of limited service hotel.
U.S. Private Equity Fund in $16,000,000 leveraged development of extended stay facility.
Real estate partnership in $3,200,000 bid on an 800 acre plus parcel of land in bankruptcy proceeding.
U.S. Telecommunications Provider: numerous acquisitions of nation-wide wireless spectrum rights and contribution thereof to multi-party joint venture capitalized at $14,500,000,000.
U.S. Financial Institution in disposition of Chicago exchange based commodities trading firm.
Management Services company in its acquisition of a business process outsourcing company.
Steel products manufacturing company in proposed $60,000,000 sale.
Specialty automotive manufacturer in proposed $60,000,000 acquisition of U.S. and U.K based assets.
Recycling and Disposal Company: $57,000,000 acquisition of common stock and related assets.
Bank Holding Company in disposition of institutional trust business.
Bank Holding Company in disposition of credit card business.
Bank Holding Company in acquisition of community bank group.
Bank Holding Company in acquisition of multi-bank holding company.
Real Estate Investment Trust in $28,100,000 sale via tender offer.
U.S. Private Equity Fund in acquisition of telecom manufacturing company.
U.S. Private Equity Fund in acquisition of specialty fixture manufacturing company.
Oil Equipment Manufacturing Company: $465,000,000 12 1/4% Senior Secured Notes secured by assets in the U.S., U.K. and Far East.
Advise German private bank as to use of business trusts in the United States.
Kuwait-based underwriter in listing U.K company on Kuwait Stock Exchange.
Japanese Financial Institution: $32,461,737.40 Rail-Car Lease Financing for U.S. Transportation Company.
Japanese and Italian sponsors in formation of various off-shore hedge funds.
U.S. Advertising Agency: $200,000,000 sale via auction to French company.
Canadian Bank Holding Company: $125,000,000 acquisition of U.S. credit card business.
Dutch Private Equity Fund in $75,000,000 acquisition of Caribbean beverage distributorship.
Dutch Private Equity Fund in $746,910,000 acquisition of U.S. automotive component manufacturer.
Dutch Private Equity Fund in $345,000,000 acquisition of U.S. office supply company.
Dutch Bank Holding Company: $4,000,000,000 Floating Rate Asset Backed Certificates.
Dutch Bank Holding Company: $1,139,750,000 Floating Rate Asset Backed Certificates.
Dutch Bank Holding Company: $107,800,000 Floating Rate Asset Backed Certificates.
Dutch Bank Holding Company: $26,950,000 Floating Rate Asset Backed Certificates.
Dutch Bank Holding Company: $180,400,000 Floating Rate Asset Backed Certificates.
Dutch Bank Holding Company: $45,100,000 Floating Rate Asset Backed Certificates.
Telecommunications Provider: $148,383,146 Zero Coupon Non-Recourse Secured Notes.
Pharmaceuticals Company: $250,000,000 7.75% Senior Subordinated Notes.
Pharmaceuticals Company: $325,000,000 Senior Floating Rate Notes.
Insurance Company: $285,400,000 Liquid Yield Option Notes (Zero Coupon-Senior).
Electric Utility: $350,000,000 6.875% Senior Notes.
Electric Utility: $250,000,000 6.400% Senior Notes.
Aerospace component manufacturer: $275,000,000 7 3/4% Senior Subordinated Notes.
Electric Utility: $400,000,000 6.20% Debentures.
Medical device manufacturer: $600,000,000 6.00% Notes.
Medical device manufacturer: $600,000,000 6.40% Notes.
Consumer products manufacturer: $125,000,000 9 5/8% Senior Subordinated Debt Notes.
Healthcare Company: $100,000,000 5.75% Convertible Subordinated Debentures.
Bio-technology company in connection with SEC registered stock option and retirement plans.
Portfolio Company, Private Equity Fund: $220,000,000 9 3/8% Senior Subordinated Notes
Portfolio Company, Private Equity Fund: $141,910,000 11 ¾% Cumulative Redeemable Exchangeable Preferred Stock.
Community Bank Group: $64,080,000 initial offering of Common Stock.
Bank Holding Company: $215,250,000 offering of Common Stock.
Bank Holding Company: $200,000,000 offering of 10 3/4% Cumulative Preferred Stock.
Bank Holding Company: $150,000,000 offering of 10 1/8% Subordinated Capital Notes.
State Pension Fund: numerous $50,000,000 to $200,000,000 investments in private equity, bond and real estate funds.
Equity sponsor: placement of securities comprising fractional interests in real estate under IRC 1031.
Water Utility: $15,000,000 5.99% First Mortgage Bonds due 2036.
Telecommunications Provider: Convertible Preferred Stock.
Insurance Company: $12,000,000 7.41% Series Cumulative Preferred Stock.
U.S. Financial Institution: $7,000,000 Secured Credit Facilities to Destination Resort.
Metal Coating Company: $8,470,000 Senior and Subordinated Term and Revolving Credit Facilities.
Diversified Real Estate Company: $16,320,000 Multi Parcel Real Estate Acquisition.
Diversified Real Estate Company: $48,000,000 Senior Secured Term Credit Facility.
Diversified Real Estate Company: $16,000,000 Senior Secured Revolving Credit Facility.
Diversified Real Estate Company: $8,500,000 Senior Secured Revolving Credit.
Golf Supply Company: $1,400,000 Senior Secured Financing.
U.S. Insurance Company: $600,000,000 First Mortgage Financing.
U.S. Financial Institution: Credit Facility to U.S. Railroad.
U.S. Financial Institution: Credit Facility to Portfolio Company of Private Equity Fund.
U.S. Financial Institution: Senior Secured Credit Facilities to finance leveraged acquisition of two national restaurant chains.
Portfolio Company of Private Equity Fund: $615,000,000 Secured Credit Facility.
U.S. Financial Institution: $500,000,000 Revolving Credit Facility to national department store.
U.S. Commonwealth: $250,000,000 Transportation Revenue Bonds.
U.S. Commonwealth: $1,502,904,943.95 Transportation Revenue Refunding Bonds.
U.S. Commonwealth: $431,955,609.05 Highway Revenue Refunding Bonds.
State Conduit Issuer: $39,500,000 Pollution Control Refunding Revenue Bonds.
State Conduit Issuer: $53,000,000 Pollution Control Bonds.
Municipal Housing Authority: $15,270,000 Housing Bonds.
Municipal School System: $247,000,000 Unlimited Tax General Obligation Refunding Bonds.
Municipality: $317,855,000 Airport Revenue Bonds.
County Government: $26,000,000 General Obligation Bonds.
State Sports Authority: $399,000,000 Stadium Revenue Bonds.
County Government: $55,000,000 General Obligation Bonds.
County Government: $60,000,000 General Obligation Bonds.
Participate in Chapter 11 proceedings with respect to American Equities, Emerald Casino, Farmland Industries, Fleming, Fremont General and K-Mart.
Various preference actions in bankruptcy courts in Illinois and Delaware.
Advise medical center in issues arising in construction of $1 billion plus new hospital.
Advise managed care provider in $142,000,000 state contract and related matters, including compliance and subcontractor arrangements.
Advise multi-state health system in case alleging federal antitrust and related violations.
Negotiate construction management contract for $900 million plus replacement hospital.
Represent media concern in negotiations for $117,000,000 contract with public transportation.
Represent County government in awarding contracts for $600,000,000 replacement hospital.
Judicial Law Clerk to Honorable Jack B. Jacobs, Delaware Court of Chancery, 1987-1988
Leading Lawyer in Illinois, Bankruptcy and Workout Law, Commercial Debtor/Creditor, 2004-2009
The University of Chicago, President’s Advisory Conference on the College, 2005
German Marshall Fund of the United States, Marshall Fellowship, 2002
24th American-German Young Leaders Conference, Member, 2002
The Chicago Daily Law Bulletin, 40 Leading Lawyers in Illinois under age 40, 2001
American Bar Association, Member, Task Force on Mergers and Acquisitions Dictionary, 2003-2005
Lawyers Trust Fund of Illinois, Inc., appointed by The Supreme Court of the State of Illinois, Director, Secretary and Treasurer, 2000-2006
Illinois Department of Financial and Professional Regulation, Hearing Officer, 2003-2006
Civic, Cultural & Social Activities
Dollars and Sense, Inc., Secretary, 2011-2015
The Father Close Fund, Inc., Founder, President and Director, 2011-2013
Mercy Home for Boys and Girls, Member/Secretary, Board of Regents, 1990-2007
The Mission of Our Lady of Mercy, Inc., Director and Secretary, 1991-2006
The Christian Brothers Fund, Inc., Director, Secretary and Assistant Treasurer, 1991-2006
German Marshall Fund of the United States, Fellowship Selection Committee, 2002-2007
Nazareth Academy, Trustee, 2000-2002
Chicago Chapter of The American Refugee Committee, Host Committee, 1999-2002
The University of Chicago, Library Society and Alumni Schools Committee
National Multiple Sclerosis Society, Leadership Council, 2001
Law School of Harvard University, Leadership Conference
Cook County (Illinois) President's Delegation to Egypt and Israel, 1998
Governor's Conference on Housing, State of Illinois, 1991
“Navigating Tender Offers and the Regulatory Approval Process in Public, and Private, M&A Deals," 4th Annual Thomson Reuters Midwestern M&A and Private Equity Forum, Chicago, Illinois, May, 2016
"Understanding The Legal Aspects of International Business,"12th Annual Silk Road Conference, sponsored by Central Asian Productivity Research Center, Chicago, Illinois, April, 2016
”Fraudulent Transfer Claims in Bankruptcy Proceedings,” Primerus Symposium, Chicago, Illinois, June, 2012
"Recent SEC Developments in Municipal Finance," Chicago, Illinois, December, 1999
"Tender Offer Financing," Chicago, Illinois, March, 1999
"Initial Public Offerings and Related Matters," Medinah, Illinois, February, 1998.
“How to Acquire and Finance a Business in the United States,” Access North America, Legal Studies and Services Limited Seminar, London, England, July 1993
"Plan for Change" seminar, sponsored by Tucker, Anthony & Co., 1993
“Estate Planning and Charitable Gifts” seminar, sponsored by The Christian Brothers Fund, Inc., 1993
“Legal Issues and Charitable Gifts” seminar, sponsored by The National Conference of Roman Catholic Religious Treasurers, Lewis University, Summer 1991 and 1992
“Acquisitions by Foreign Companies: Export Controls and Compliance with Anti-Trust Laws,” published in Navigating Tender Offers and the Regulatory Approval Process in Public, and Private, M&A Deals, 4th Annual Thomson Reuters Midwestern M&A and Private Equity Forum, Chicago, Illinois, May, 2016
“Understanding The Legal Aspects of International Business” course materials, 12th Annual Silk Road Conference, sponsored by Central Asian Productivity Research Center, Chicago, Illinois, April, 2016
“Stop, Look and Listen: How to Avoid Getting Hit by the Bankruptcy Train" (Co-author), International Society of Primerus Law Firms, Electronic Newsletter, January/February 2013
“Doing Business with Financially Troubled Companies,” American Corporate Counsel Association, Annual Meeting, October 2011
“The Benefits of Using Loans to Help an ESOP Buy Shares” (Co-author), The American Banker, October, 2002
“Scandals May Prompt Suits from Bondholder Trustees” (Co-author), The American Banker, July, 2002
"United States Tender Offer Financing," Proceedings of the Amsterdam Institute of Finance, June, 1999
“Emerging Disclosure Issues for Municipal Securities” (Co-author), The Securities Regulation Law Journal, Winter 1997; and Insights: The Corporate & Securities Law Advisor, May, 1996
“Legal Issues in Representing Business Organizations,” Access North America, Legal Studies and Services Limited, London, England, July 1993
“Delaware’s Limit on Director Liability: How the Market for Incorporation Shapes Corporate Law,” Harvard Journal of Law and Public Policy, Summer 1987