Empire Resorts Inc (NYNY) announced that it has appointed Eric Reehl as Chief Restructuring Officer. Reehl's primary function will be to negotiate a restructuring of the company's outstanding secured debt obligations with representatives of the company's note holders, who hold $65 million in convertible notes, and Bank of Scotland, which holds about $7.5 million in a revolving first mortgage credit facility.
Reehl recently served as one of three Managing Directors in Corporate Finance and Asset Backed Lending at Plainfield Asset Management LLC. At Plainfield, Reehl was involved in lending and investing opportunities, including a number of corporate acquisitions in bankruptcy proceedings.
Previously, he served as Senior Bankruptcy and Restructuring Advisor with Ernst & Young's Corporate Finance Restructuring Group in New York, and as Head of the New York Direct Lending Group at CGS Investments, Inc., an affiliate of Beal Bank. Reehl concurrently serves as Acting CFO for Park Avenue Bank in New York.
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