Eric Tyson Ray

Eric Ray is a bankruptcy attorney in Holland & Knight's Birmingham office. He has substantial experience in representing debtors, secured lenders, unsecured creditors, restaurants and utilities in corporate restructurings, bankruptcies, receiverships, Section 363 sales, debtor-in-possession financing and related litigation.

While Mr. Ray focuses his practice on Chapter 11 bankruptcy proceedings, he also has extensive experience in commercial litigation proceedings throughout state and federal courts. Additionally, Mr. Ray has represented clients in complex probate proceedings with substantial assets involving multiple business ownership interests.

Representative Matters

• Represented a major fast-food restaurant franchisee as local counsel in Chapter 11 proceedings involving a Section 363 sale of 166 of its 172 locations in five Southeast states; recovering approximately $58 million for the bank syndicate and creditors, allowing more than 2,500 employees to keep their jobs and continue operating the restaurants
• Represented a franchisee with 30 quick service restaurants (QSRs) in Alabama and Tennessee, as the debtor in Chapter 11 proceedings involving a 363 sale via a stalking horse bidding process
• Served as counsel to bondholders representative facilitating deed in lieu agreement on a $7 million bond issue secured by a senior living facility in Anniston, Alabama
• Served as counsel to bondholders representative in litigation against the principals of an assisted living facility in Sarasota, Florida, with a defaulted $38 million bond indenture
• Served as counsel to bondholders representative facilitating the appointment of a federal receiver to finish construction of $42 million defaulted bond issue for a Florida senior assisted living facility
• Represented a large, multistate bank as bond trustee holding a security interest on all of the assets of a bankrupt biomass manufacturer and facilitated the bank's sale of those assets
• Served as lead bankruptcy counsel to a large Alabama-based mining company and five of its affiliates in their Chapter 11 cases and in negotiating a plan of reorganization
• Represented a research foundation in the negotiations and assignment of the license as part of the receivership assumption and assignment of executory contract