While ELFA leadership, staff, and members work tirelessly to advance the interests of the equipment leasing and finance industry, there is another powerful force working for the same purpose: the industry attorneys working on behalf of the equipment leasing and finance industry and ELFA. For the past two decades, the Edward A. Groobert Award for Legal Excellence has recognized significant legal contributions to the industry. This year, the award was presented to two co-honorees—Debra R. Devassy Babu, a shareholder at Darcy & Devassy, P.C. in Chicago, and Brittany S. Ogden, partner and national co-chair of Bankruptcy, Restructuring & Creditor’s Rights at Quarles & Brady LLP in Madison, Wisconsin—to acknowledge their outstanding dedication.

The award was presented during the annual ELFA Legal Forum held this May in Charlotte, NC. Named for Edward A. Groobert, ELFA’s longtime Secretary and General Counsel who served the association for almost 50 years, this award recognizes attorneys whose legal leadership has made a lasting impact on the equipment finance landscape.

“We are thrilled to present this award to co-honorees, Debbie Devassy Babu and Brittany Ogden,” says Brian Kestenbaum, Senior Vice President and General Counsel, LEAF Commercial Capital Inc., and Chair of the ELFA Legal Committee, who presented the award. “Debbie and Brittany have demonstrated unwavering leadership and commitment, dedicating countless hours to ELFA. Their hard work continues to inspire and elevate the standard of excellence within the equipment finance industry.”

Recognizing Two Industry Leaders

Devassy Babu and Ogden’s achievements exemplify the ambitious standards that ELFA’s legal community seeks to uphold in an industry built on service, shaped by expertise, and grounded in innovation. Each has served the industry in varied and important ways.While Devassy Babu found her way into equipment finance unexpectedly, she has spent over two decades representing major financial institutions in commercial litigation, equipment finance, and bankruptcy matters across state, federal, and bankruptcy courts.

“When I started as an attorney in 2004, I was fortunate enough to work on a portfolio of cases involving widespread vendor fraud by NorVergence,” she recalls. “That experience was trial by fire but really helped me cut my teeth on equipment leasing and the UCC.”

Her passion for the industry led to deeper involvement with ELFA. She now co-chairs the Amicus Curiae Subcommittee and serves on both the Equity Committee and Mentorship Working Group. Her past roles include serving on the ELFA Board, Legal Committee, and chairing the Service Providers Business Council Steering Committee.

Co-honoree Ogden has also made a lasting mark on the industry, representing financial institutions, secured creditors, and equipment leasing companies nationwide, combining legal expertise with business insight.

Ogden is no stranger to being an ELFA honoree. In 2022, she received the Michael J. Fleming Distinguished Service Award. A longtime ELFA contributor, Ogden is a former Legal Committee member, current co-chair of the Amicus Brief Committee, and a trustee on the ELFA Foundation Board. “ELFA’s top-notch advocacy efforts have been critical to the development of this industry as well as serving its members at the most challenging times,” she notes.

Advancing ELFA and the Industry

ELFA’s Legal Forum serves as the premier gathering for legal professionals in the equipment finance sector while also providing a platform to celebrate the exceptional contributions of individuals in the field. The Groobert Award announcement is a highlight of the event, and both Devassy Babu and Ogden expressed their appreciation for the recognition—and their commitment to the continued work ahead.

“This is such a treasured award,” Ogden says. “Appreciating Attorney Groobert’s contributions to the industry as well as the legal minds of the past recipients makes this an overwhelming honor. I am hopeful that my commitment to appreciating the law in conjunction with critically understanding the businesses I serve contributed to the decision to award me this prestigious honor.”

Devassy Babu emphasized the importance of ELFA and the efforts of the industry’s legal efforts. “I think the ELFA’s advocacy and legal efforts have strengthened the equipment finance industry’s position on national and state legal issues, like Section 1071 and state law disclosures,” she says. “I know that the ELFA is working on greater visibility for the equipment finance industry, which is crucial. We are a huge sector of the economy, and the general public needs to know about us and what we do for businesses.”

ELFA Board Chair James Cress, Brittany Ogden, Debra Devassy Babu and Brian Kestenbaum.