Eric has more than 25 years of experience representing debtors and creditors in insolvency cases and out-of-court restructurings. Prior to his career as an attorney, he was an investment banker for several years.
His substantial experience includes assisting clients with complex operational, corporate governance, financial, real estate, pension, intellectual property, tax, labor, purchase/sale and litigation issues. He also has extensive experience in the use of state court proceedings as a restructuring or liquidation alternative, including experience with receiverships, assignments for the benefit of creditors, foreclosures, dissolutions and other alternative court proceedings.
His practice focuses on business restructurings, including representing distressed enterprises, advising fiduciaries and managers for distressed enterprises, distressed acquisitions and transactions, distressed financings, debtor and committee representations, representation of large secured and unsecured creditors and related litigation. He has appeared in federal and state courts throughout the United States on a range of bankruptcy and related issues.
Eric represents many international clients in insolvency and other proceedings in the United States. He is active internationally in the Insolvency/Bankruptcy Practice Group for TerraLex, a worldwide network of business lawyers, and served as a Director on the American Bankruptcy Institute’s (ABI) International Committee. He also speaks before a variety of professional and business audiences on various restructuring and business topics. He has been recognized as a leading Delaware attorney by Chambers USA, IFLR1000 and The Best Lawyers in America.
Representing the foreign representative in the cross-border restructuring of The Aldo Group Inc., a multi-national retailer with 3,000 locations worldwide. Successfully achieved chapter 15 recognition of the Canadian foreign main proceedings and obtained what DebtWire described as first-ever critical vendor relief in a chapter 15. In re The Aldo Group Inc., et al., No. 20-11060 (Bankr. D. Del.)
Counsel the committee of unsecured creditors in private equity-backed EdgeMarc Energy Holdings, LLC Chapter 11 proceedings. Complex negotiations resulted in court-approved liquidation plan approval and asset sale. In re: EdgeMarc Energy Holdings LLC et al., No. 19-11104 (BLS) (Bankr. D. Del.)
Represented prepetition/DIP/exit asset-based revolving loan (ABL) lender in Blackhawk Mining's chapter 11 proceedings. In re: Blackhawk Mining LLC et al., No. 19-11595 (LSS) (Bankr. D. Del.)
Represented lender in the bankruptcy cases regarding prepetition loan and separate disputes in trucking firm Celadon’s bankruptcy case. In re: Celadon Group Inc., et al., No. 19-12606 (Bankr. D. Del.)
Debtor’s counsel to MTE Holdings LLC, a Texas-based oil and gas well driller in complex case involving a dispute over control of the company, a change in board leadership, and then the appointment of a special committee and subsequent settlement agreement. In re: MTE Holdings LLC, No. 19-12269 (Bankr. D. Del.)
Representing Scottish Holdings, Inc. as Delaware counsel in their restructuring and bankruptcy reorganization cases. In re Scottish Holdings, Inc. et al., No. 18-101600 (LSS) (Bankr. D. Del.)
Lead counsel to Terminal Investment Limited in cross-border acquisition of controlling stake in Total Terminals International.
Represented troubled biotech startup KaloBios Pharmaceuticals, Inc. in complex, high-profile reorganization. In re: KaloBios Pharmaceuticals Inc., No. 15-12628 (LSS) (Bankr. D. Del.)
Represented executives of Jumio, Inc. In re: JMO Wind Down Inc., No. 16-10682 (Bankr. D. Del.)
Represented offshore oil drilling services and rig operator Hercules Offshore, Inc. Advised the debtor through Chapter 11 proceedings and wind-down. Hercules Offshore Inc. et al., No. 16-11385 (KC) (Bankr. D. Del.)
Represented Optim Energy, LLC and its affiliated debtors in possession in their chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. In re: Optim Energy LLC et al., No. 14-10262 (LPS) (Bankr. D. Del.)
Represented Teachers’ Retirement Systems of Alabama and Employees’ Retirement Systems of Alabama in the bankruptcy of Signal International, Inc., and its affiliated debtors.
Counsel to Trico Marine Services, Inc, a multi-national owner/operator of support vessels for offshore oil and natural gas drillers. Provided litigation counsel regarding complex contested secured loan and sale of asset matters.
Represented Hancock Fabrics, Inc., a publicly-held national retailer of fabrics, notions and home furnishing goods with approximately 400 retail locations. Lead counsel regarding all real estate matters, including extensive lease issues. Also, responsible for handling a large tax claim. This was the first case to address certain procedures with respect to the BAPCPA revisions to nonresidential real property lease provisions of the Bankruptcy Code.
Counsel to Rouge Steel and its affiliates, producers of high quality, flat rolled carbon steel products, with respect to the sale of the company and resolution of claims in bankruptcy. Responsible for handling the resolution of certain large secured/unsecured claims as well as labor and pension related matters.
Counsel to Orion Refining Corporation and the plan trustee with respect to the sale of the company in bankruptcy. Served as lead counsel responsible for resolution of large secured claim and asset liquidation issues.
Represented Valley Media, Inc. and liquidating trustee with respect to liquidation of the company and its affiliated debtors. Served as lead counsel regarding complex contested Uniform Commercial Code consignment matter. (See In re Valley Media, 279 B.R. 105)
Represented Yellow Pages book publisher Local Insight Media Holdings, Inc. Official Committee of Unsecured Creditors in Chapter 11 case. Responsible for litigation with secured lender regarding possible avoidance and preference matters.
Lead counsel to the Official Committee of Unsecured Creditors and Plan Administrator in Chapter 11 case regarding Jillian’s Entertainment Corp., a national restaurant chain. Involved in sale, plan and claims process for both the Committee and Plan Administrator, resulting in a higher than expected return for unsecured creditors.
Represented officers and directors in Pinnacle Airlines Corp., et al., Case No. 12-11343 (REG)
Represented officers and directors in Riverstone Networks, Inc., Case No. 06-10110 (CSS)
Represented officers and directors in Xybernaut Corporation, et al., Case No. 05-12801 (RGM)
Represented officers and directors in Williams Communications Group, Inc., et al., Case No. 02-11957 (BRL)
Assisted with administrative claim in representing creditor Global Infrastructure Management, LLC. Lyondell Chemical Company, Inc., et al., Case No. 09-10023 (REG)
Assisted with credit card agreements and related claims for credit card issuer Barclays Bank in Frontier Airlines Holdings, Inc., et al., Case No. 08-11298 (RDD); and U.S. Airways, Inc., et al., Case No. 04-13819 (SSM)
Assisted franchisees with the assumption and rejection of certain franchise agreements and related claims in Delaware Chrysler Dealers, Chrysler, LLC, et al., Case No. 09-50002 (AJG)
Represented indenture trustee Wilmington Trust Company in business litigation. Adelphia Business Solutions, Inc., et al., Case No. 02-11389 (REG)
Assisted creditor Philippine Long Distance Telephone Company with contested claims. In re ProtoStar Ltd., et al., Case No. 09-12659 (MFW)
Assisted franchisee J&B Restaurant Partners with assumption and assignment, rejection and termination of certain agreements for over 60 locations. Friendly Ice Cream Corporation, et al., Case No. 11-13167 (KG)
Represented Linux Networks, Inc. with assignment for benefit of creditor representation. In re: Linux Networks, Inc., Assignor, v. Development Specialists, Inc., Assignee, Del. Ch. Ct., C.A. No. 3611-VCP
Represented Popular Club with assignment for benefit of creditor representation. In re: Popular Club Acquisition, LLC, Assignor, v. Traxi Advisors, LLC, Assignee. Del. Ch. Ct., C.A. No. 4615-VCP
Lead counsel for The Penn Traffic Company plan administrator in contested matters with main supplier. The Penn Traffic Company, et al., Case No. 09-14078 (PJW)
Lead counsel for Juniper Bank in litigation commenced by Bank of America against US Airways Corp., Inc. Bank of America, N.A (USA) v. US Airways, Inc., et al., and Juniper Bank, Del. Ch. Ct., C.A. No. 1713-N
News & Insights
- Media Mention, Turnaround Management Association, 10.05.2022
The restructuring transactions concerning Klausner Lumber One LLC and Klausner Lumber Two LLC were selected for the 2022 Small Company Turnaround/Transaction of the Year Award.
- Media Mention, IFLR1000 United States, 09.14.2022
IFLR United States 2022 recognized Morris Nichols in two Delaware tables ranking the top M&A law firms and the leading restructuring and insolvency law firms.
- Media Mention, The Best Lawyers in America, 08.18.2022
The Best Lawyers in America has released its 2023 edition, listing 35 attorneys from Morris Nichols. The results are based on peer-review evaluations from more than 71,000 eligible attorneys.
- Chambers USA 2022 Ranks Morris Nichols in Top Tier for Four Delaware Practices; 28 Attorneys Named Leading Delaware PractitionersMedia Mention, Chambers USA, 06.01.2022
Chambers USA has again ranked Morris Nichols in Band 1 for Bankruptcy/Restructuring, Chancery, Corporate M&A & Alternative Entities, and Intellectual Property.
- Media Mention, The M&A Advisor, 09.01.2021
Morris Nichols was recognized in the award category for “Restructuring of the Year ($100MM to $500MM)” for the restructuring of VIVUS, Inc.
- Media Mention, IFLR1000 United States, 08.25.2021
IFLR United States 2021 - The Guide to the World’s Leading Financial and Corporate Law Firms again ranked Morris, Nichols, Arsht & Tunnell LLP in two Delaware tables ranking the top M&A law firms and the leading restructuring and insolvency law firms.
- Media Mention, The Best Lawyers in America, 08.19.2021
The Best Lawyers in America has released its 2022 edition, listing thirty-two attorneys from Morris Nichols. The results are based on peer-review evaluations from more than 66,000 eligible attorneys.
- Chambers USA 2021 Again Recognizes Morris Nichols in Band 1 in Four Delaware Practices; 27 Attorneys Named Among Leading Delaware PractitionersMedia Mention, Chambers USA, 05.20.2021
The 2021 edition of Chambers USA has again ranked Morris Nichols in the top tier in four Delaware practice categories.
- Media Mention, TOUCHPOINT - INSOL’s Insolvency Practice Group Newsletter, 04.15.2021
The April 2021 newsletter includes various article contributions from insolvency/bankruptcy practitioners.
- Article, TOUCHPOINT - INSOL’s Insolvency Practice Group Newsletter, 04.15.2021
In a prepackaged bankruptcy—colloquially known as a “prepack”—a distressed company negotiates and solicits support of a chapter 11 plan of reorganization before commencing its chapter 11 case. The company then files for bankruptcy court protection to implement the plan, knowing that it has the requisite creditor support for its reorganization.
- Speaking Engagement, Virtual, November 11, 2020 through November 13, 2020
- Firm News, 08.20.2020
Thirty-one Morris Nichols attorneys were recognized in the 2021 edition of The Best Lawyers in America. The results are based on peer-review evaluations from more than 67,000 eligible attorneys.
- Chambers USA 2020 Ranks Morris Nichols Band 1 in Four Delaware Practices; 24 Morris Nichols Attorneys Recognized Among Leading Delaware PractitionersFirm News, 04.23.2020
- IFLR1000 United States Guide Ranks Morris Nichols in Top Delaware Bands for Financial and Corporate Law FirmsFirm News, 09.17.2018
Wilmington, DE (September 17, 2018) - The 2018 edition of IFLR United States - The Guide to the World’s Leading Financial Firms has been released. Morris, Nichols, Arsht & Tunnell LLP appears at the top of the two Delaware tables ranking the leading M&A law firms and the leading restructuring and insolvency law firms.
- Firm News, 07.25.2017
Wilmington, DE (July 25, 2017) - Eric Schwartz, Morris Nichols Business Reorganization & Restructuring Group partner, has been invited as part of INSOL's Strategic Plan 2021 to join a Taskforce 2021 Working Group to “Enhance the involvement and relevance of the small practice network”.
- Eric Schwartz is Country Chapter Contributor for the United States for the INSOL International Special Report titled “Office-Holder Remuneration-Some International Comparisons”03.01.2017
Wilmington, DE (March 1, 2017) - INSOL International published the Special Report titled “Office-holder Remuneration: Some International Comparisons” by Eric Baijal of BBM Solicitors, Scotland with country chapters provided by 14 individual contributors. Eric Schwartz, Morris Nichols Business Reorganization & Restructuring Group partner, is the country contributor for the United States. The report analyses and compares the way in which 14 different jurisdictions around the world approach the common issue of office-holder remuneration. It draws on this analysis to find the positive and negatives of each approach, the common difficulties and the features that mark a fair, transparent and robust remuneration system.
- Morris Nichols Represents Terminal Investment Limited in Acquisition of Controlling Stake in Total Terminals InternationalFirm News, 02.06.2017
Wilmington, DE (February 6, 2017) - Morris Nichols successfully represented Terminal Investment Limited SARL (“TiL”) as lead counsel in its cross-border acquisition from Hanjin Shipping Co., Ltd. (“Hanjin”) of a controlling stake in Total Terminals International, LLC (“TTI”), a Delaware limited liability company which operates two marine terminals on the U.S. West Coast. The complex deal successfully closed on February 1, 2017.
- Firm News, 01.27.2017
Wilmington, DE (January 27, 2017) - Today, The M&A Advisor announced the winners of the 11th Annual Turnaround Awards. Morris, Nichols, Arsht & Tunnell LLP was recognized in two categories for restructuring work and for reorganization in the energy sector.
- Morris Nichols Partners with KaloBios Pharmaceuticals, Inc. to Overcome Challenges to Complete Successful ReorganizationFirm News, 07.12.2016
Wilmington, DE (July 12, 2016) - Morris, Nichols, Arsht and Tunnell LLP (“Morris Nichols”) announced today that it, together with co-counsel Hogan Lovells US LLP, has served as chapter 11 bankruptcy counsel for KaloBios Pharmaceuticals, Inc., a Brisbane, California based development stage, biopharmaceutical company focused on advancing treatments for neglected diseases, in a highly successful reorganization and recapitalization of its business. Batuta Capital Advisors LLC acted as the company’s financial advisor and the Brenner Group LLC provided interim financial management support.
Wilmington, DE (March 31, 2016) - Eric Schwartz was a guest lecturer at Georgetown University McDonough School of Business. Mr. Schwartz lectured on the subject of corporate fiduciary duties in a distress situation to the Corporate Restructuring class of students in the masters in business program. Mr. Schwartz' hour-long lecture covered the challenges officers and directors face in a distress situation and their duties and alternatives.
Wilmington, DE (August 24, 2012) - Eric Schwartz, Morris Nichols Business Reorganization & Restructuring Group partner, has been appointed
Professional & Civic
American Bankruptcy Institute (International Committee, Director)
American Bar Association
Delaware State Bar Association
INSOL International (Small Practice Group Newsletter Editorial Committee)
TerraLex (Insolvency/Bankruptcy Practice Group, Co-Chair)
Villanova University School of Law, JD, 1992
Villanova University Environmental Law Journal, Member
New York University, MBA, 1989
Georgetown University, BSBA, cum laude, 1984
- Delaware, 1992
- Pennsylvania, 1993
Eric represents many international clients in insolvency and other proceedings in the United States. He is active internationally in the Insolvency/Bankruptcy Practice Group for TerraLex, a worldwide network of business lawyers, and served as a Director on the American Bankruptcy Institute’s (ABI) International Committee.