Eric L. Pruitt

Eric L. Pruitt concentrates his practice in Bankruptcy and Creditors' Rights, particularly in restructuring and workouts of commercial loan transactions. He has particular experience in healthcare loan workouts and in the niche area of bankruptcy taxation. Mr. Pruitt also represents CMBS servicers.

Additionally, Mr. Pruitt has substantial experience in maximizing value for creditors through loan sales and collateral recovery, including commercial foreclosure, and the subsequent disposition of assets (including REO sale transactions and auctions).

While based in the Firm's Birmingham office, he often handles matters across the Southeastern region and throughout the country. Mr. Pruitt is a frequent speaker and author on bankruptcy and taxation issues.

Mr. Pruitt is actively involved with the American Bankruptcy Institute (ABI), the CRE Finance Council (formerly CMSA) and the Turnaround Management Association. He serves on the Board of Directors of the Turnaround Management Association – Alabama Chapter.

Mr. Pruitt is a member of the Board of Trustees of The Alabama Ballet and the Advisory Board for The Blackburn Institute. The Blackburn Institute is an organization with the stated purpose of developing a network of leaders who have a clear understanding of the challenges that face the State of Alabama. The Institute provides its members with opportunities to explore issues and identify strategic actions that will improve the quality of life for the State of Alabama and the nation. The Alabama Ballet promotes and fosters the development of classical and contemporary ballet through high quality performances, dance education and community outreach.

Publications & Speaking Engagements

• "Recent Trends in Pursuing Remedies in the Southeast," client training seminar, New York, New York (June 13, 2011)
• "Summary of Southeastern States Foreclosure and Right of Redemption" (March 2010)
• "Tax Questions in Chapter 11 Cases, Including Attribute Reduction and Rules for Individual 11s," 34th Annual Judge Alexander L. Paskay Seminar on Bankruptcy Law and Practice, Tampa, Florida (March 2010)
• "Legal Challenges Facing Servicers: Lender Liability, Receiverships, Collecting Default Interest and Late Fees," client training seminar, Washington, D.C. (May 2009)
• "Current Challenges Asset Managers Face In and Out of Bankruptcy," client training seminar, Philadelphia, Pennsylvania (November 2008)
• "Effectively Managing Special Assets," Community Bankers Association of Alabama De Novo and Profitability Conference, Point Clear, Alabama (November 2008)
• "Distressed Investing Strategies," Birmingham Commercial Real Estate Club, Birmingham, Alabama (May 2008)
• "Managing for the Downturn," in-house client presentations to CMBS servicers and national banks, Dallas, Texas, Washington, D.C., and Birmingham, Alabama (Fall and Winter, 2007 – 2008)
• "Preventing and Cleaning Up 'Spilled Milk' in Problem Loans," in-house client presentation, Huntsville, Alabama (August 2007)
• Moderator/Program Chairperson – Bankruptcy Taxation Committee Educational Session, American Bankruptcy Institute 2006 Winter Leadership Conference, Scottsdale, Arizona (December 2006)
• "New Law Mandates 'Pay to Play' Offer in Compromise Rules," Vol. 3, No. 3, ABI Committee News – Bankruptcy Taxation Committee (September 2006)
• Co-author – "The Changing Face of Health Care Bankruptcies, Analyzing BAPCPA's Health Care Amendments," Vol. 2006, Issue No. 4, Norton Bankruptcy Law Adviser (April 2006)
• "Recent Judicial and Legislative Developments," Bankruptcy Taxation Committee Educational Session, American Bankruptcy Institute 2006 Annual Spring Meeting, Washington, D.C. (April 2006)
• "Secured Creditors Liquidating Trust Denied Tax Refund for Net Operating Losses Based on Product-Liability Settlements and Pension Plan Contributions," Vol. 3, No. 1, ABI Committee News – Bankruptcy Taxation Committee (March 2006)
• Co-author – "So You Don't Know Much About the Bankruptcy Abuse and Prevention Act of 2005? A Summary of the Significant Business Provisions," Vol. 4, No. 7, ABA Section of Business Law eSource (December 2005), reprinted in ABA Section of Business Law Young Lawyer Forum Newsletter, (December 2005)
• "Sixth Circuit Declines to 'Blindly Adopt Till' – Announces Nuanced Approach to Cramdown Interest Rates," Vol. 2, No. 2, ABI Committee News – Bankruptcy Litigation Committee (November 2005)
• Co-author – "New Player at the Health Care Reorganization Table – Practical Implications of the Patient Care Ombudsman," Vol XXIV, No. 6, American Bankruptcy Institute Journal (July – August 2005)

Professional Honors & Activities

• AV® Preeminent™ Peer Review Rated by Martindale-Hubbell
• Listed in Alabama Rising Stars, Bankruptcy & Creditor/Debtor Rights (2010)
• Former Co-chair – American Bankruptcy Institute, Bankruptcy Taxation Committee
• Member – American Bar Association, Business Law and Taxation Sections
• Named by Birmingham magazine as one of "Birmingham's Top Attorneys" in Bankruptcy (2009, 2011)
• Advisory Board – The Blackburn Institute (2008 – 2011)
• Advisory Board – Multiple Sclerosis Leadership Class of 2009
• Board of Trustees – The Alabama Ballet (2011 – 2014)
• Board of Directors – The Turnaround Management Association, Alabama Chapter

Admissions

• Alabama (1998)

Education

• New York University School of Law, LL.M. in Taxation (2001)
• University of Alabama School of Law, Tuscaloosa, Alabama , J.D. (1998)
  • Alabama Editor, Alabama Law Review
• University of Alabama, Tuscaloosa, Alabama, B.A. in Communications (1993)