Eric Schriesheim
Biography
Eric Schriesheim is an associate in the Financial Restructuring and Insolvency Group in White & Case's Chicago office.
Eric advises public and private companies, financial sponsors and distressed investors on complex restructuring and insolvency matters. His practice includes out-of-court liability management transactions, distressed acquisitions, Section 363 sales and Chapter 11 proceedings. His experience spans a range of industries, including manufacturing, healthcare, food and beverage and retail.
Before joining White & Case, Eric was an associate at a Chicago law firm and served as a law clerk to Judge Elizabeth S. Stong of the US Bankruptcy Court for the Eastern District of New York.
Experience
Ad Hoc Group of Exela Technologies
Represented an ad hoc group of bondholders of Exela Technologies, a global business process automation company, in connection with its chapter 11 cases, captioned In re DocuData Solutions, Inc. in the United States Bankruptcy Court for the Southern District of Texas. These proceedings involved the restructuring of US$1.3 billion of funded debt and the ad hoc group provided a new money DIP facility of up to $80 million. *
Hearthside Foods
Represented Hearthside Foods and its affiliated debtors in their prearranged chapter 11 cases involving approximately $3.0 billion of funded debt. Hearthside's prearranged chapter 11 plan eliminated approximately $2 billion of funded debt and provided $200 million of new money through an Equity Rights Offering and approximately $190 million of additional capital from a new asset backed loan facility. Hearthside emerged from chapter 11 with approximately $600 million of liquidity and rebranded as Maker's Pride. *
Vobev LLC
Represented Vobev LLC, a leading beverage manufacturer with a state-of-the-art canning, filling and warehousing facility, in its chapter 11 case to restructure over $400 million of prepetition first lien funded debt, as well as over $70 million of additional unsecured liabilities. Vobev filed its chapter 11 case with the support of its prepetition lenders through the funding of an approximately $115 million debtor-in-possession financing facility consisting of approximately $37 million of new money and approximately $78 million of "rolled-up" prepetition debt. The prepetition lenders serving as the DIP lenders also entered into a stalking horse purchase agreement with Vobev for a $150 million credit bid, subject to higher or otherwise better offers. *
Ad Hoc Group of Digital Media Solutions, Inc.
Represented an ad hoc group of lenders of Digital Media Solutions, Inc. in connection with their acquisition of Digital Media Solutions via credit bid of outstanding prepetition and DIP financing indebtedness. *
Hardinge
Represented Hardinge, a precision machining and tooling manufacturer, in connection with refinancing efforts and ultimately, their chapter 11 cases to address over $100 million in secured debt. *
Rodan + Fields
Represented Rodan + Fields, a renowned American company specializing in skincare products, in its transaction combining a business transition from multi-level marketing into a direct-selling omni-retail business model and a recapitalization and uptier transaction that raised $75 million of new money and provided debt service and covenant relief on $550 million of secured debt. *
ReStore Capital, LLC
Represented ReStore Capital, LLC as administrative and collateral agent to Express, LLC, a multi-brand fashion retailer with more than 550 retail stores, in connection with (i) a prepetition second lien asset-based term loan facility and (ii) a debtor in possession financing facility provided by funds and accounts managed by ReStore Capital, Gordon Brothers and First Eagle in the chapter 11 cases of Express, LLC and certain of its affiliates.*
AccentCare
Represented AccentCare in an uptier debt exchange that resulted in near-unanimous lender participation, raised US$175 million of new money capital, and extended the maturity of its existing US $1.3 billion of debt by two years. *
Tecomet, Inc.
Represented Tecomet, Inc., together with certain of its affiliates, in the refinancing of its approximately US$1 billion capital structure, including through the provision of a new revolving credit facility and privately placed first-lien term loan. *
* Experience prior to joining White & Case