Eric Lockridge is a partner in the Baton Rouge office of Kean Miller. His practice includes business litigation, bankruptcy and business reorganization, and assisting clients with business transactions. He has tried commercial and tort cases to verdict in Louisiana and Texas and has successfully defended judgments on appeal. Eric currently focuses on lender work-out agreements, bankruptcy-related litigation, contract drafting and dispute resolution, and complex commercial cases for Kean Miller’s construction, energy, and financial sector clients. Eric also works with Kean Miller’s intellectual property team to litigate patent, trademark, and copyright claims.
Eric also counsels corporate clients and distressed-asset investors in asset acquisitions and sales, financing, corporate structures, document-retention programs, and insurance-related issues. He uses his experience in intellectual property and trade secret litigation to assist clients with negotiating and implementing licensing agreements, joint ventures, non-compete agreements, and other business goals. Eric practiced law in Texas for six years before joining Kean Miller in 2005.
Loan Negotiations, Workouts, and Collateral Review
- Represent lenders and borrowers in financing negotiations and distressed debt workouts for secured financing ranging from $50,000 to $100,000,000. Recent workouts include borrowers in the following sectors: construction, consumer finance, energy, healthcare, offshore production, real estate development, retail, and shipbuilding.
- Representation of a sophisticated corporate entity formed to acquire, improve and sell the largest retail/office/residential development in Louisiana
- Assist lenders, debt purchasers, and national counsel with legal due diligence, collateral review, and opinion letters
- Represented the DIP Lender in Chapter 11 case for motor manufacturer
- Represented the Ad Hoc Committee of Secured Bondholders in a Chapter 11 case filed by nursing home operator.
- Initiated an involuntary Chapter 11 bankruptcy case for a software firm where the court granted our request for a Chapter 11 "Trustee"
- 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.
- 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 a publicly traded offshore services provider in a Chapter 11 bankruptcy case filed by a publicly traded energy company. The confirmed Chapter 11 plan resulted in Kean Miller’s client being paid in full.
- Successfully enforced discharge orders and channeling injunctions that protect clients and their predecessors-in-interest from liability for personal-injury and property-damage claims addresses 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.
Eric earned his B.A. in Political Science from Emory University in 1995. He earned his J.D., with honors, from The University of Texas School of Law in 1999. In law school, Eric was a member of the National Mock Trial Team and served as an associate editor for the Texas Review of Law and Politics.
- Admitted, Louisiana, 2005; Texas, 1999; All United States District Courts in Louisiana; United States District Courts for the Northern, Southern and Eastern Districts of Texas; United States Court of Appeals, Fifth Circuit
- Baton Rouge (Chair, Bankruptcy Section), Louisiana, Texas, and American Bar Associations; American Bankruptcy Institute (Fifth Circuit Editor, The Volo Project (Circuit Court Opinion First Responder)); Louisiana Bar Foundation (Fellow); DAYL Foundation (Founding Fellow)
Articles, Publications and Presentations
- Introducing a New Risk for Louisiana Loans Supported by Upstream and Cross-Stream Security: The Ten-Year Revocatory Action, Louisiana Law Blog, March 23, 2017
- Louisiana Rejects Negligent Spoliation of Evidence as a Tort Claim, Louisiana Law Blog, August 2, 2015
- Top 10-ish Differences Between Louisiana and Texas Law: Contracts & Torts, Outside Insights for In-House Counsel CLE, December 2012
- Document Retention and Related Electronic Discovery Issues, Outside Insights for In-House CLE, December 2012
- Protecting your Company from Financial Risks in Troubled Times, Outside Insights for In-House CLE, December 2011
- When the Tenant or Landlord Files Bankruptcy and Ethics in Landlord-Tenant Law, in Louisiana Landlord-Tenant Law CLE, Sterling Educational Services, 2010
- Basics of Bankruptcy and Contracts, Association of Corporate Counsel – Louisiana Chapter, June 19, 2009
- Document Retention and Destruction in Louisiana (numerous presentations 2008-present)
- Copyright Basics of Businesses, Educators and Creatives, Kean Miller Intellectual Property Seminar, September 2007
- Guest Lecturer, E.J. Ourso College of Business, Louisiana State University
- “Artificially Impaired” Creditors Can Vote on Chapter 11 Plans in the Fifth Circuit, Louisianalawblog.com, March 2013
- Louisiana’s Business Judgment Rule Protects Corporate Officers From Being Second Guessed, Unlike California’s Corporate Law, Louisianalawblog.com, January 2012
- Lenders and Developers Need to Understand How Louisiana’s Private Works Act Applies to Their Projects, Louisianalawblog.com, May 2011
- “Zone of Insolvency” Claims Against Officers and Directors Still Alive (and Well?) Outside of Delaware, LAGNIAPPE (A Publication of Louisiana Certified Public Accountants), Aug./Sept. 2009.
- 363 Sales of Assets in Bankruptcy – Chrysler and Beyond, Louisianalawblog.com, June 2009.
- Preparing for a Tenant’s Bankruptcy – the Landlord’s Perspective, Louisianalawblog.com, March 2009.
- How Does Chapter 11 Affect My Business When a Customer, Competitor or Vendor Files for Bankruptcy?, Louisianalawblog.com, February 2009.
- Co-Author, Recent Developments in Insurance Coverage Litigation, 42 TORT TRIAL & INSURANCE PRACTICE L.J. 2, Winter 2007.
- Electronic Evidence Update for In-House Counsel, Louisianalawblog.com, July 2006.
- Post-Katrina Louisiana Contracts and the Doctrine of Impossibility, Louisianalawblog.com, September 2005.
- Active Member, First United Methodist Church of Baton Rouge
- Member, Baton Rouge Area Foundation
- President’s Council, Habitat for Humanity
- Pro Bono Volunteer and Holiday Star Committee Member, Baton Rouge Bar Association
- Former Director, Board Chairman, and Volunteer, Youth Oasis (homeless shelter for teenagers)
- Former Director, Riverbend Homeowners Association
- Former Director, Louisiana School for the Deaf Foundation
- Former Director, Dallas Area Young Lawyers
- Member, Louisiana Bankers Association, Bank Counsel Section