Brad Eric Scheler is a senior partner and chairman of Fried Frank's bankruptcy and restructuring practice resident in the Firm's New York office. Mr. Scheler joined the Firm in 1981 and became a partner in 1984.
Mr. Scheler represents both debtors and creditors; his practice includes both out-of-court debt restructurings and the rehabilitation of financially distressed businesses under chapter 11 of the Bankruptcy Code. He regularly represents investors in and lenders to financially troubled companies, parties seeking to acquire the businesses or assets of financially troubled companies and buyers and sellers of distressed securities. Mr. Scheler's experience on some of the largest and most complex transactions - from leveraged buyouts to strategic mergers - has given him perspective and insight into the challenges of realizing maximum value and recovery from both distressed and non-distressed businesses and assets. Drawing upon his substantial experience in corporate boardrooms and judicial proceedings, Mr. Scheler acts as outside general counsel and strategic adviser to a number of financially strong corporate, institutional and regulatory clients in connection with financings and capital market transactions, including the issuance and restructuring of debt and equity securities and the structuring and implementation of mergers, acquisitions and joint ventures.
Mr. Scheler writes on subjects related to his experience and is a frequent speaker at seminars for clients and fellow professionals. He is a contributing author to Collier on Bankruptcy. Mr. Scheler has been a regular guest lecturer for a course on Investing in Distressed Securities taught by Professor Allan Brown at the New York University Leonard N. Stern School of Business. He is also a member of the Advisory Board for the K&A Restructuring Register.
Honors & Awards
Mr. Scheler is recognized by Chambers Global: The World's Leading Lawyers for Business, Chambers USA: America's Leading Lawyers for Business and Legal 500.
Professional Associations
Mr. Scheler is a member of the Board of Trustees of his undergraduate alma mater, Lehigh University. Mr. Scheler also serves as the Chair of the Dean's Advisory Council for Lehigh University's College of Business and Economics.
Mr. Scheler is also the Chair of the Dean's Advisory Board for his law school alma mater, the Maurice A. Deane School of Law at Hofstra University. Among his myriad of activities on behalf of the Law School, Mr. Scheler has been an honored speaker at and spokesperson for Hofstra Law.
Mr. Scheler is regularly involved with charitable endeavors and fundraising activities in connection with a number of organizations, including among others, inMotion-Justice for All Women (Chair Emeritus), the Juvenile Diabetes Research Foundation, UJA Federation, Larchmont Manor Park, the Village of Larchmont Library Board and Volunteer Lawyers for the Arts.
Mr. Scheler is a Fellow of the American College of Bankruptcy. He is a member of the American Bar Association, the New York State Bar Association, and the Association of the Bar of the City of New York.
Publications
Client Memoranda
Delaware Bankruptcy Court Applies Section 1129(a)(10) on a Per Debtor Basis in the Tribune Chapter 11 Cases, Nov 15, 2011
Authors: Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Shannon Lowry Nagle, Alan N. Resnick, Jennifer L. Rodburg, Bonnie Steingart, Kalman Ochs
Supreme Court Adopts Amendments to Bankruptcy Rule 2019 on Disclosure Requirements for Multiple Creditors and Equity Security Holders Acting in Concert in Chapter 11 Cases, Apr 29, 2011
Authors: Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Shannon Lowry Nagle, Alan N. Resnick, Jennifer L. Rodburg, Bonnie Steingart, Kalman Ochs
District Court Reverses Controversial TOUSA Decision on Fraudulent Transfers, Feb 22, 2011
Authors: Brad Eric Scheler, Jean Hanson, Gary Kaplan, Shannon Lowry Nagle, Alan Resnick, Jennifer Rodburg, Bonnie Steingart, Kalman Ochs
In re Visteon: Third Circuit Expands the Protection of Retiree Benefits in Chapter 11 Cases, August 12, 2010
Authors: Brad Eric Scheler, Alan N. Resnick, Jean E. Hanson, Bonnie Steingart, Shannon Lowry Nagle, Gary L. Kaplan, Jennifer L. Rodburg, Kalman Ochs
Unraveling Financing Transactions Under Fraudulent Conveyance Laws: The Lessons of In re TOUSA, Inc., Nov 2, 2009
Authors: Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Alan N. Resnick, Jennifer L. Rodburg, Bonnie Steingart, Kalman Ochs
Underfunded Pension Liability: Lenders and Buyers Beware, Nov 7, 2008
Source:
Authors: Valerie Ford Jacob, Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Brian D. Pfeiffer, Alan N. Resnick, Jennifer L. Rodburg, Bonnie Steingart, Daniel J. Bursky, Stuart H. Gelfond, Laraine S. Rothenberg, Amy L. Blackman, Eric Cafritz, David Chijner, Sven Schulte-Hillen, Sheena McCaffrey, Todd McCafferty, Anna Taylor
Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc.: Supreme Court Decision Denying Stamp Tax Exemption to Pre-Confirmation Sales in Chapter 11 Cases, Jun 27, 2008
Authors: Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Brian D. Pfeiffer, Alan N. Resnick, Bonnie Steingart, Kalman Ochs
Reversal of Enron Ruling on Claims Transfers - Reevaluating the Risks of Equitable Subordination, Oct 1, 2007
Authors: Brad Eric Scheler, Jean Hanson, Gary Kaplan, Vivek Melwani, Brian Pfeiffer, Alan Resnick, Bonnie Steingart, Kalman Ochs
Revisiting Insider Trading in the Debt Markets: Lessons For Debt Investors and Members of Committees in Bankruptcy Cases, Jun 19, 2007
Source:
Holding Debt and Equity Investments in a Financially Distressed Company May Survive Recharacterization Claims, Dec 8, 2006
Authors: Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Vivek Melwani, Alan N. Resnick, Bonnie Steingart, Kalman Ochs, Maurice Lantourne, David Chijner
The Risks of Equitable Subordination to Transferred Claims, Dec 23, 2005
Authors: Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Vivek Melwani, Alan N. Resnick, Bonnie Steingart, Kalman Ochs
Reform of French Bankruptcy Law - Adoption of the Business Safeguard Act, Nov 17, 2005
Authors: Eric Cafritz, David Chijner, Patrick Jaïs, Laurent Assaya, Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Vivek Melwani, Alan N. Resnick, Bonnie Steingart, Kalman Ochs
The Third Circuit in Owens Corning Severely Limits Availability of Substantive Consolidation as a Remedy in Bankruptcy Cases, Aug 22, 2005
Authors: Brad Eric Scheler, Vivek Melwani, Bonnie Steingart, Jean E. Hanson, Alan N. Resnick, Gary L. Kaplan, Kalman Ochs, Valerie Ford Jacob, Daniel J. Bursky, Stuart H. Gelfond, Arthur S. Kaufman, Michael A. Levitt, Craig F. Miller, Brian D. Murphy, F. William Reindel
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 and its Impact on Business Bankruptcy Cases, Apr 15, 2005
Authors: Brad Eric Scheler, Vivek Melwani, Alan N. Resnick, Bonnie Steingart
Internal Revenue Service Clarifies Treatment of Golden Parachute Rules in Bankruptcy, Jul 22, 2004
Authors: Brad Eric Scheler, Vivek Melwani, Alan N. Resnick, Bonnie Steingart, Kalman Ochs
Reform of French Bankruptcy Law, Mar 29, 2004
Authors: Brad Eric Scheler, Alan N. Resnick, Vivek Melwani, Eric Cafritz
Supreme Court Renders Decision on Chapter 11 "New Value" Plans Bank of America National Trust & Savings Assoc. v. 203 North LaSalle St. Partnership, May 13, 1999
Authors: Brad Eric Scheler, Gerald C. Bender, Alan N. Resnick
Articles
Coercive Creditor Treated as "Insider" in Bankruptcy Case, Jun 23, 2009
Source: New York Law Journal
Authors: Brad Eric Scheler and Alan N. Resnick
Underfunded Pension Liability: Lenders and Buyers Beware, January 2009
Source: Pratt's Journal of Bankruptcy Law
Authors: Stuart H. Gelfond, Valerie Ford Jacob, Laraine S. Rothenberg, Brad Eric Scheler
'Enron' Ruling on Claims Transfers, Oct 15, 2007
Source: New York Law Journal
Authors: Brad Eric Scheler, Alan N. Resnick
Radnor repercussions: Holding debt and equity investments in a financially distressed company may survive 'recharacterization' claims in a US bankruptcy based on the outcome of an important case, Feb 1, 2007
Source: Private Equity Manager
Authors: Brad Eric Scheler, Alan N. Resnick
Corporate Restructuring and Bankruptcy: Enron Ruling Impacts Claims Trading Industry, March 6, 2006
Source: New York Law Journal
Union Wins Spot On Delphi Creditors Panel, January 27, 2006
Source: Bankruptcy Law 360
Necessity, the Mother of Invention Strikes Again: Deepening Insolvency-Dissecting the Decisions of Directors and Officers in the Zone of Insolvency Through a Rearview Looking Glass, 2005
Source: Annual Survey of Bankruptcy Law
Mandamus Review in Bankruptcy Cases, November 2003
Source: Norton Annual Survey of Bankruptcy Law
Limitations on the United States Trustee's Power to Appoint Committees: Lessons from PG&E, Fall 2001
Source: 34 Uniform Commercial Code Law Journal 215
From the Bankruptcy Courts: The Effect of a Cross-Default Provision on the Ability to Assume an Executory Contract or Unexpired Lease, Fall 1999
Source: Uniform Commercial Code Law Journal
From the Bankruptcy Courts: When an Oversecured Creditor Is Entitled to Postpetition Interest at the Default Rate: the Thirty-Six Percent Award, Fall 1999
Source: Uniform Commercial Code Law Journal
Books
Collier on Bankruptcy (contributing author), 2002
Source: 15th edition
News
News Releases
Fifty-seven Fried Frank Partners and Twenty-four Practice Areas Recognized by Chambers USA 2011, Jun 14, 2011
Fifty-eight Fried Frank Partners and Twenty-nine Practice Areas Recognized by Chambers USA 2010, Jun 11, 2010
The Legal 500 United States 2010 Edition Recognizes Fifty-two Fried Frank Lawyers and Nineteen Practice Areas, Jun 8, 2010
Fried Frank Expands Bankruptcy and Restructuring Practice,
Shannon Lowry Nagle Joins Firm in New York, Mar 1, 2010
Fried Frank to Receive 2010 Commitment to Justice Law Firm Award From inMotion, Feb 1, 2010
Chambers Global 2010 Recognizes 23 Fried Frank Lawyers and 13 Practices as Global Leaders, Nov 10, 2009
Fifty-eight Fried Frank Partners and Thirty-one Practice Areas Recognized by Chambers USA 2009, Jun 11, 2009
The Legal 500 United States 2009 Edition Recognizes Forty-Three Fried Frank Lawyers and Nineteen Practice Areas, Jun 3, 2009
Fifty-four Fried Frank Partners and Thirty-two Practice Areas Recognized by Chambers USA 2008, Jun 13, 2008
Forty-Eight Fried Frank Partners and Twenty-Seven Practice Areas Recognized by Chambers USA 2007, Jun 15, 2007
Volunteer Lawyers for the Arts to Honor Fried Frank at VLA Summer Benefit, Jun 19, 2006
Volunteer Lawyers for the Arts to Honor Fried Frank at VLA Summer Benefit, Jun 2, 2006
Thirty Fried Frank Partners and Twenty-two Practice Areas Recognized in the Latest Edition of Chambers USA: America's Leading Lawyers for Business 2006, Jun 2, 2006
Fried Frank Earns Recognition in Six Areas in the Latest Edition of The Chambers Global Guide, Jan 20, 2006
Accolades
Fried Frank Accepts "2010 Commitment to Justice Law Firm Award" from inMotion, Feb 9, 2010
Volunteer Lawyers for the Arts Outstanding Volunteer Award, Jun 19, 2006
Media Mentions
AmLaw Daily notes Fried Frank's representation of Centerbridge in connection with Extended Stay's exit from bankruptcy, Oct 11, 2010
Brad Eric Scheler Named "Dealmaker of the Week" by Am Law Daily, Jun 4, 2010
Fried Frank's representation of Centerbridge in connection with Extended Stay's auction reported by The Deal Pipeline, May 28, 2010
AmLaw Daily reports on Fried Frank's role in Extended Stay Hotels' reorganization plan, Mar 18, 2010
Brad Eric Scheler featured in a Bloomberg Law podcast, Nov 12, 2009
Business Week quotes Brad Eric Scheler in an article about the problems facing Chapter 11, May 13, 2009
IDD profiles Brad Eric Scheler on the current state of bankruptcy law, Dec 1, 2008
Brad Eric Scheler comments on the approval of Calpine's Chapter 11 bankruptcy plan in The Wall Street Journal, Dec 20, 2007
Brad Scheler and Alan Resnick write about a recent bankruptcy court decision regarding the recharacterization of debt to equity, Feb 1, 2007
Brad Scheler and Alan Resnick Article in New York Law Journal Analyzes Enron Bankruptcy Judge's Decision Impacting Claims Trading, Mar 6, 2006
Bankruptcy and Restructuring Partner Brad Eric Scheler Quoted in Bankruptcy Law360 on Delphi Bankruptcy, Jan 27, 2006
Firm short-listed for corporate team of the year, The Lawyer, "Corporate Team of the Year", Jun 14, 2004
Rankings - Benchmark
Benchmark: Litigation 2012, Dec 1, 2011
Rankings - Chambers
Chambers Global 2012, Mar 22, 2012
Chambers USA 2011, Jun 13, 2011
Rankings - Legal 500
Legal 500 US 2011, Jun 14, 2011
Events
Past Events
Speaking Engagements
Navigating Economic and Corporate Distress: An Investor Perspective, Feb 24, 2009
-The Impact of Distressed Investors Upon the Restructuring Process
-Distressed Investing: How to Make Money in 2009, Oct 27, 2008
Situation Report: Delphi, Nov 26, 2007
Market Drivers - Major Issues Affecting Distressed Debt Today, Apr 26, 2007
Lessons Learned from the New Bankruptcy Code, Jul 18, 2006
HealthSouth Panel, Nov 29, 2004