J. Eric Lockridge

Loan Negotiations, Workouts, and Collateral Review

• Represent lenders and borrowers in financing negotiations and distressed debt workouts for secured financing ranging from $100,000 to $100,000,000. Recent workouts include borrowers in the following sectors: auto sales and finance, construction, consumer finance, energy, equipment leasing, healthcare, offshore production, offshore services, real estate development, retail, and shipbuilding
• Represented a joint venture entity through the acquisition, improvement, financing, and operation of the largest retail/office/residential development in Louisiana
• Assists lenders, debt purchasers, and national counsel with legal due diligence, collateral review, and opinion letters

General Bankruptcy

• Regularly advises multinational and local energy companies, service companies, and contractors on bankruptcy matters involving their contractors, operators, partners, vendors, and their predecessors and successors in title
• Regularly represents banks, commercial finance companies, other secured lenders and servicers in bankruptcy cases in Louisiana and the Southern Districts of Texas.
• Represented energy company in its acquisition of offshore assets from the estate of a bankrupt E&P company, In re Bennu Oil & Gas, LLC, Southern District of Texas
• Counsel to Official Committee of Unsecured Creditors in a Chapter 11 case for multiple hospital entities, In re Progressive Acute Care, LLC, et al., Western District of Louisiana
• Counsel to Ad Hoc Committee of Secured Bondholders in a Chapter 11 case filed by nursing home operator, In re Rock Glen Healthcare, Inc., Middle District of Louisiana
• Initiated an involuntary Chapter 11 bankruptcy case for a software firm where the court granted our request for a Chapter 11 Trustee, In re Thinkstream Incorporated, Middle District of Louisiana
• Represented a publicly traded offshore services provider in a Chapter 11 bankruptcy case filed by a public energy company. The confirmed Chapter 11 plan resulted in Kean Miller’s client being paid in full, In re ATP Oil & Gas Corporation, Southern District of Texas
• Initiated an involuntary Chapter 11 bankruptcy case for a fast food franchisee with 25+ locations on behalf of a consortium of lenders. We worked with the franchisor and the Chapter 11 Trustee to implement a sale process that resulted in our lenders’ collateral (franchise restaurants) being sold on a going-concern basis and our lenders’ claims being paid in full, including post-petition interest and attorneys’ fees, In re Fundamental Provisions, Middle District of Louisiana
• Represented a distressed debt investor in a Chapter 11 bankruptcy case filed by self-storage business to stop a foreclosure. After we defeated the attempted cram-down plan, the case concluded with a sale of the purchased note for a favorable return on investment
• Represented pre-petition and DIP Lender in Chapter 11 cases for motor manufacturer and for offshore service company

Bankruptcy & Commercial Litigation

• Successfully enforced discharge orders and channeling injunctions that protect clients and their predecessors-in-interest from liability for personal-injury and property-damage claims addressed in completed bankruptcy cases, including removing state-court cases to federal court when necessary to enforce a bankruptcy injunction
• Successfully represented lenders, vendors, contractual counterparties, and partners (actual and alleged) to debtors in contested matters and adversary proceedings in business bankruptcy cases. Recent engagements include bankruptcy cases in the construction, financial services, healthcare, offshore energy, and petrochemical industries
• Successfully represented many creditors sued for the return of preferential payments or alleged “fraudulent transfers” ― payments received before a debtor files for bankruptcy
• Obtained a favorable decision on the value of mortgaged real estate after a full trial. The Court’s valuation decision effectively blocked the debtor’s ability to cram-down a plan over our client’s objection