Eric Walker

Eric maintains a national practice focused on financial restructuring, bankruptcy and litigation. He has represented virtually every major stakeholder in bankruptcy proceedings throughout the US. While Eric has a range of restructuring experience spanning multiple sectors, he has a particular understanding of the healthcare industry, including restructuring senior living facilities, continuing care retirement communities (CCRCs), skilled nursing facilities (SNFs), hospital systems, urgent care clinics, behavioral health centers and diagnostic medical laboratories.

Eric is recognized as a leading bankruptcy practitioner by Chambers USA, Lawdragon, M&A Advisor, the American Bankruptcy Institute (ABI) and the National Conference of Bankruptcy Judges. Clients describe Eric as “a brilliant restructuring lawyer” who “outmaneuvers the opposition every time.” In 2017, Eric was honored as one of 40 Under 40 restructuring professionals by the ABI.

He is a former member of the board of directors for the ABI, is an executive editor for the ABI Journal and serves on the advisory board of the annual ABI Health Care Program. Eric is a thought leader and frequent writer and speaker on bankruptcy and healthcare law issues.

Eric’s representative matters include:

• Serving as counsel to the official committee of unsecured creditors in senior living facility and CCRC Chapter 11 bankruptcy proceedings across the US, such as:
• Lutheran Life Communities – Two CCRCs and one SNF in Illinois and one CCRC in Indiana (Bankr. N.D. Ill.)
• Clare Oaks – CCRC in Bartlett, Illinois (Bankr. N.D. Ill.)*
• Henry Ford Village – CCRC in Dearborn, Michigan (Bankr. E.D. Mich.)*
• Amsterdam House – CCRC in Port Washington, New York (Bankr. E.D.N.Y)*
• California-Nevada Methodist Homes – Two CCRCs in Northern California (Bankr. N.D. Cal.)*
• The Prospect-Woodward Home – CCRC in Keene, New Hampshire (Bankr. D.N.H.)*
• Serving as counsel for several nonprofit senior living owners and operators in both in-court and out-of-court restructurings across the country
• Lifespace Communities (Dallas, Texas)
• Friendship Senior Options (Schaumburg, Illinois)
• SantaFe HealthCare (Gainesville, Florida)
• Acting as counsel to the official committee of unsecured creditors in community hospital Chapter 11 bankruptcy proceedings, such as:
• Mercy Hospital (Bankr. N.D. Ill.)*
• Watsonville Community Hospital (Bankr. N.D. Cal.)*
• Acting as counsel for an owner and operator of urgent care clinics in out-of-court restructuring and divestment strategies
• Acting as counsel for a private credit fund in workout negotiations for an owner and operator of urgent care clinics
• Acting as counsel to an investment group in negotiating a stalking horse bid, debtor-in-possession financing and plan sponsorship for a publicly traded healthcare company in Chapter 11*
• Serving as special litigation counsel for a medical diagnostic lab company in a Chapter 11 proceeding, and then successfully obtaining a preliminary injunction requiring the Centers for Medicare & Medicaid Services (CMS) to pay more than $5 million in Medicare reimbursements post-petition, notwithstanding a prepetition fraud suspension*
• Serving as counsel to a successful stalking horse bidder in In re Health Diagnostic Laboratory, which was named the 2016 Restructuring Deal of the Year (Under $100M) by M&A Advisor*
• Acting as counsel for private equity sponsors in various distressed healthcare investments, such as:
• An out-of-court restructuring for a behavioral health business*
• A converted Chapter 11 bankruptcy proceeding involving a medical supply distribution business*
• A Worker Adjustment and Retraining Notification (WARN) Act class action and breach of fiduciary duty adversary proceedings (as defense counsel) involving regional ambulance businesses*

* Representation handled prior to joining Cooley