David L. Eades

David has successfully represented numerous clients in workouts and bankruptcy proceedings across the country and across a wide spectrum of industries. David served as team leader for Moore & Van Allen's Bankruptcy and Financial Restructuring group from 1993 through 2016.

Representative Experience

Bankruptcies

• Centennial Healthcare Corporation (N.D. Ga.): Representation of co-agent for syndicate of lenders with over $220 million of loan and synthetic lease exposure in bankruptcy involving multi-state nursing home company, including negotiation of confirmed liquidating chapter 11 plan
• Crown Pacific L.P. (Ariz.): Representation of agent for syndicate of lenders with $200 million in exposure in negotiating confirmed creditors' plan for debtor timber company. Prepetition, negotiated major restructure involving significant additional collateral coverage, $78 million pay-down and resolution of difficult intercreditor issues with private placement note holders holding $250 million of senior debt
• DBSI, Inc. (Del.): Representation of secured lender with over $66 million of secured claims against real property in five states
• Jefferson County, Alabama (N.D. AL.): Representation of variable rate securities liquidity bank and auction rate securities broker-dealer in Alabama chapter 9 bankruptcy proceeding in connection with defaulted $3.2 billion Alabama county sewer bond issuance
• Mercedes Homes, Inc. (S.D. Fla.): Representation of agent for lenders that extended over $155 million of senior secured financing to real estate developer that emerged from chapter 11 with a confirmed plan negotiated with, and supported by, senior lenders

• Qimonda Richmond, LLC (Del.): Representation of indenture trustee for loan participants that extended over $150 million in leveraged lease equipment financing in connection with lease to semiconductor manufacturer
• Silver State Helicopters, LLC (Nev.): Representation of lender with $30 million secured claim in complex chapter 7 bankruptcy of nationwide helicopter flight training school
• Smith Mining & Materials, LLC (W.D. Ky.): Representation of senior secured lender with $14 million of exposure in chapter 11 case of multi-state mining company
• Railworks Corporation (Md.): Representation of agent for lender syndicate holding $200 million in prepetition debt in rail contractor’s chapter 11 bankruptcy proceeding. Representation included the negotiation of complex five-facility DIP credit arrangements with debtor and its surety as well as plan of reorganization, which was confirmed
• TransCare Corporation (S.D.N.Y.): Representation of senior secured lender with $65 million of prepetition exposure to Manhattan ambulance company in connection with confirmed prepackaged debt-for-equity chapter 11 plan
• U.S. Airways Group, Inc. (II) (E.D. Va.): Representation of agent for syndicate of lenders, including Air Transportation Stabilization Board, under $1 billion prepetition credit facility in connection with all facets of debtors’ bankruptcy proceedings

Workouts

• Consulting: Representation of agent for lender syndicate in successful restructuring, reducing $65 million exposure to full payoff of senior debt facility to Florida consulting company
• Direct Mail Marketing: Representation of administrative agent for secured lenders in connection with workout of approximately $240 million credit facility to an international direct mail marketing company, including provision of $7 million super-priority short-term credit facility
• Education: Representation of administrative agent for secured lenders in connection with workout of an approximately $82 million senior credit facility extended to a for-profit education company
• Food Brand: Representation of administrative agent for secured lenders in connection with workout of over $725 million credit facility to a national brand food company, including provision of $80 million super-priority short-term credit facility. Completed out-of-court restructuring involving incurrence of second-lien indebtedness resulting in repayment of over $550 million of senior indebtedness
• Leasing: Representation of agent for syndicate of lenders with $100 million of exposure in workout and subsequent refinance of credit facility to California automated teller machine lessor
• Manufacturing: Representation of agent for syndicate of lenders in workout and ultimate full payoff of $500 million exposure to Alabama manufacturing conglomerate
• Retail Marketing: Representation of administrative and collateral agent for syndicate of lenders in successful restructurings of New England marketing company involving $25 million new equity investment from sponsor and subsequent refinancing
• Telecommunications: Representation of agent for syndicate of lenders that worked down $100 million exposure to Washington D.C. area telecommunications company to full payoff
• Shipping: Representation of agent for lender syndicate in successful restructuring of $300 million multi-tiered debt facility to Jones Act shipper
• Trucking: Representation of agent for loan syndicate in comprehensive restructure of $100 million in loans to Florida trucking company, involving the procurement of significant additional collateral coverage and the resolution of difficult intercreditor issues with private placement insurance company note holders
• Wholesale Distributing: Representation of administrative and collateral agent for syndicate of lenders in workout culminating in consensual Article 9 sale of New York wholesale distributor's assets

Notable

• Chambers USA - North Carolina, Bankruptcy/Restructuring, 2004-2023
• Best Lawyers in America, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, 1999-2024; Bankruptcy Litigation, 1999-2024
• North Carolina Super Lawyers, Bankruptcy: Business, 2006-2024
• Business North Carolina Legal Elite, Bankruptcy, 2002-2016, 2018, 2022-2023 
• Martindale-Hubbell, North Carolina Top Rated Lawyer
• Member, Board of Directors, Charlotte's Urban Ministry Center.

News

Affiliations

• American Bankruptcy Institute
• North Carolina Bar Association:  Bankruptcy Section Council
• Turnaround Management Association