Eric L. Scherling

Member

Philadelphia

(215) 665-2042

(215) 665-2013

Eric focuses his practice primarily on bankruptcy, insolvency, and creditors' rights matters.

Eric’s clients include Chapter 11 debtors, Chapter 7 trustees, and secured and unsecured creditors. His bankruptcy litigation experience includes the prosecution and defense of preference, fraudulent transfer (including Ponzi "clawback" suits), equitable subordination, non-dischargeability, "bad faith filing" and automatic stay disputes, and the enforcement of parties’ rights under commercial contracts, real property leases, and intellectual property agreements.

Eric's transactional experience includes representation of buyers and sellers in sales conducted pursuant to Section 363 of the Bankruptcy Code and Article 9 of the Uniform Commercial Code, advising on insolvency-related issues in the structuring and documentation of complex financing transactions, and, outside of bankruptcy, the negotiation and drafting of debt workout agreements on behalf of both borrowers and creditors. He also advises a wide array of clients, including vendors, commercial landlords, and service providers on developing strategies to mitigate credit risks, and counsels insurers on a variety of issues related to bankruptcy and insolvency.

Eric received his bachelor of arts in history, magna cum laude and with high honors, from Haverford College in 1998, and was elected to membership in Phi Beta Kappa. Eric received his law degree in 2001 from the University of Pennsylvania School of Law, where he was awarded honors for legal writing. 

Experience

News

Cozen O’Connor Represents Equus Capital Partners, Ltd. in $1 Billion Multi-Tiered Real Estate Transaction

April 20, 2021

Cozen O'Connor represented affiliates of Equus Capital Partners, Ltd. in a multi-tiered transaction that included the sale of two portfolios of industrial properties throughout the Southeastern United States.

Eric Scherling's Chapter Featured in the Legal Intelligencer and Philadelphia Business Journal

March 26, 2012

Eric Scherling's Chapter Featured in the Legal Intelligencer and Philadelphia Business Journal

Cozen O’Connor Launches Capital Markets Group Multidisciplinary Team Serves Expanding, Global Capital Markets’ Client Base

July 07, 2009

Cozen O’Connor Launches Capital Markets Group Multidisciplinary Team Serves Expanding, Global Capital Markets’ Client Base

Cozen O’Connor Names 17 Attorneys to Membership in the Firm

April 28, 2008

Cozen O’Connor has announced that 17 of its associates have been named members of the firm. ''We are extremely proud to welcome these highly qualified attorneys into membership in the firm,'' said Thomas A. Decker, president and chief executive officer of Cozen O'Connor, ''Their individual and combined contributions reflect the talent and strength of our firm.''

Publications

Don’t Give Up Your Leverage — The Interplay Between Vessel Arrest and the Automatic Stay [Alert]

April 28, 2021

Geoffrey Ferrer, Christopher Raleigh, Neil Quartaro, Eric Scherling, and Erik Schmidt discuss a recent victory for a client in connection with a debtor that was in severe financial distress.

Receivers of Public Utilities in Pennsylvania: The Need for Legislation or Regulations [Alert]

January 29, 2020

Jonathan P. Nase, James R. Potts and Eric L. Scherling discuss how to address unresolved issues when the PUC orders public utilities to serve as receivers for troubled small utilities.

Third Circuit Rules in Favor of Noteholders on Make-Whole Provision in Debt Indenture [Bankruptcy, Insolvency & Restructuring Alert]

November 21, 2016

Eric L. Scherling discusses a recent Third Circuit Court decision that held under the terms of the indentures governing the debtors’ issued notes, an “optional redemption” premium was payable to noteholders notwithstanding the automatic acceleration of the indebtedness upon bankruptcy pursuant to another provision of the indenture.

Application of Sovereign Immunity in Bankruptcy Actions [The Legal Intelligencer]

February 19, 2014

The U.S. Court of Appeals for the Seventh Circuit has ruled in favor of an unprecedentedly broad application of sovereign immunity in bankruptcy-related actions in its recent opinion, In re Equipment Acquisition Resources, 2014 U.S. App. LEXIS 2141 (Feb. 4, 2014). The court held that a debtor-in-possession cannot bring an Illinois fraudulent-transfer claim against the Internal Revenue Service (IRS) because its creditors could not bring such a claim against the IRS under state law due to sovereign immunity.

Dismissal of 'Litigation Tactic' Bankruptcy Cases [The Legal Intelligencer]

October 21, 2013

It is the morning of a scheduled sheriff’s sale. Following several months, and many thousands of dollars of expense, spent in obtaining a judgment, providing the requisite notices and executing on its lien, a secured creditor is finally nearing its recovery of at least a portion of its claim, through a real property foreclosure. One hour before the scheduled sale, however, the creditor’s phone rings. It is the sheriff, calling to report that the sale has been postponed. A copy of a bankruptcy petition, filed just that morning, has been faxed to the sheriff on the property owner’s behalf. The sheriff cannot move forward with the sale in the face of this last-minute development, leaving the creditor with little to show for its time and money, other than the promise of additional months’ aggravation and delay ahead.

Education

  • University of Pennsylvania Law School, J.D., 2001
  • Haverford College, B.A., magna cum laude, 1998
  • New Jersey
  • Pennsylvania
  • Pennsylvania Supreme Court
  • U.S. Bankruptcy Court -- Eastern District of Pennsylvania
  • U.S. Bankruptcy Court -- Middle District of Pennsylvania
  • U.S. Bankruptcy Court -- New Jersey
  • U.S. District Court -- Eastern District of Pennsylvania
  • U.S. District Court -- Middle District of Pennsylvania
  • U.S. District Court -- New Jersey
  • American Bankruptcy Institute
  • Philadelphia Bar Association