Debra Devassy Babu

DEBRA DEVASSY BABU concentrates her practice in complex commercial litigation, collections, bankruptcy litigation, appeals and mortgage fraud litigation. She represents clients nationwide and has extensive experience in prosecuting and defending fraud claims in state and federal courts, including bankruptcy courts.

Ms. Devassy Babu defended an equipment finance company from the Federal Trade Commission’s challenge to floating selection clauses contained in equipment lease contracts, winning dismissal of that part of the Federal Trade Commission’s Complaint. Ms. Devassy Babu is a member of the Equipment Leasing and Finance Association (“ELFA”), where she has served on the Legal Committee, and has lectured and authored articles on various topics in equipment financing. She is currently on the ELFA’s Board of Directors and serves as the Co-Chairperson for the ELFA’s Amicus Curiae Subcommittee.  She formerly chaired the ELFA’s Service Providers Business Council Steering Committee.

Ms. Devassy Babu’s reported cases include:

  • Firestone Fin. LLC v. Meyer, 881 F.3d 545 (7th Cir. 2018)

  • Lyon Financial Services, Inc. v. Illinois Paper and Copier Co., 732 F.3d 755 (7th Cir. 2013)

  • Lyon Financial Service, Inc. v. Illinois Paper and Copier Co., 2014 WL 4257774 (7th Cir. 2014)

  • Wells Fargo Equipment Finance, Inc. v. Titan Leasing, Inc., 2014 WL 4826980 (7th Cir. 2014)

  • IFC Credit Corporation v. United Business & Industrial Federal Credit Union, 512 F.3d 989 (7th Cir. 2008)

  • IFC Credit Corporation v. Aliano Brothers General Contractors, et al., 437 F.3d 606 (7th Cir. 2006)

  • Pure Solutions, Inc. v. IFC Credit Corporation, 2006 WL 1316974 (11th Cir. 2006)

  • Lyon Financial Services, Inc. v. Illinois Paper and Copier Co., 848 N.W.2d 539 (Minn. 2014)

  • IFC Credit Corporation v. Rieker Shoe, et al., 881 N.E.2d 382 (Ill. App. Ct. 2007)

  • Monroe Bank & Trust v. Chie Contractors, Inc., 2013 WL 1629300 (Mich. Ct. App. 2013)

  • Federal Deposit Insurance Corporation v. RLI Insurance Co., 49 F.Supp.3d 517 (N.D.Ill. 2014)

  • F.T.C. v. IFC Credit Corporation, 543 F.Supp.2d 925 (N.D. Ill. 2008).

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Education
  • University of Illinois College of Law, J.D., 2004

  • University of Illinois at Urbana-Champaign, B.A., 2001, magna cum laude

Bar Admissions
  • Illinois, 2004

Court Admissions
  • United States Court of Appeals for the Seventh Circuit

  • United States Court of Appeals for the Ninth Circuit

  • United States District Court for the Northern District of Illinois

  • United States District Court for the Central District of Illinois

  • United States District Court for the Southern District of Illinois

  • United States District Court for the Eastern District of Wisconsin

  • United States District Court for the Southern District of Indiana

  • United States District Court for the Northern District of Indiana

Languages
  • Malayalam