Eric E. Sagerman

Eric Sagerman is the Managing Partner of Winston & Strawn’s Los Angeles Office and the Chair of the firm’s National Restructuring and Insolvency Group. Mr. Sagerman has extensive experience in workouts, financial restructurings, and general debtor and creditor matters, representing debtors, secured creditors, official committees of unsecured creditors, and a variety of other constituents in complex reorganizations.

Mr. Sagerman has represented a variety of constituents in significant national matters, including a Lender Group in the workout of more than $650 million in financial accommodations to a debtor operating a temporary staffing business; Credit Suisse, Cayman Islands Branch, as prepetition agent to a manufacturer of consumer products; General Electric Capital Corporation, as prepetition agent and DIP Lender to Consolidated Freightways Corporation in the Chapter 11 case of this national freight transportation company; Beverly Hills Bancorp, as debtor and debtor in possession in the Chapter 11 Case of this bank holding company; Condor Systems, Inc., as debtor and debtor in possession, in the Chapter 11 case of this manufacturer of electronic warfare systems for the United States and foreign governments; Cisco Capital, as lessor of $100 million of high technology equipment to Web provider PSINet, Inc. in the latter’s Chapter 11 case and proceedings under Canada’s CCAA; and the Official Committee of Unsecured Creditors of People’s Choice Home Loan, Inc. in the Chapter 11 case of this subprime lender originating more than $10 billion in mortgage loans.

Honors & Awards

Mr. Sagerman has been selected as a leader in restructuring and insolvency by Chambers USA since 2007, included in Best Lawyers in America since 2008, recognized by Turnarounds & Workouts (1999), cited multiple times in the “Rainmakers” supplement to The Los Angeles Daily Journal and San Francisco Daily Journal, and named as a Super Lawyer each year since 2006 by Los Angeles Magazine.


Mr. Sagerman is active in Firm management and serves on the Firm’s Executive, Compensation, and Operations Committees, as well as Managing Partner of the Firm’s Los Angeles office. He previously served on the Insolvency Law Committee of the State Bar of California Business Law Section. He also is a member of the American Bankruptcy Institute, Los Angeles County Bar Association, the Financial Lawyers Conference, the Turnaround Management Association, the State Bar of California, and the American Bar Association.


Mr. Sagerman is co-author with Patrick A. Murphy and David Neier of the treatise Creditors’ Rights in Bankruptcy (2nd Ed.), an editorial board member of the Bankruptcy Strategist, and the author of numerous articles, including: “Loyalty and Secrets: Fiduciary Duties and Confidentiality Protections Affecting the Performance of Creditors’ Committees,” in The Role of Creditors’ Committees in Chapter 11 Bankruptcies (Aspatore 2008); “New Bankruptcy Law May Still Be Applicable To Shifting Strategy In Real-Estate-Driven Cases,” Daily Bankruptcy Review Small Cap (July 13, 2005); “Courts Rein in Solvent Debtor Bankruptcies By Handling Landlords’ Significant Victories,” 5 Norton Bankruptcy Law Advisor 9 (May 2005); and “The Ethics of Engagement: Getting In & Getting Out,” published with materials for the ABI 5th Annual Bankruptcy Battleground West (1997).

Mr. Sagerman also speaks on current issues of interest in insolvency and restructuring law. His presentations include “Four Experienced Restructuring Experts Discuss How Today’s Economy is Affecting the Volume and Variety of Distressed Companies,” for The Capital Roundtable (San Francisco); “Subprime Paradigm: Lessons on Maximizing Value from the Subprime, 1031 and Servicer Cases” at the 19th Annual Winter Leadership Conference of the American Bankruptcy Institute (Palm Springs); “The Balance of Power in Workouts and Chapter 11 Cases” at the Financial Lawyers Conference in Los Angeles (concentrating on DIP Financing Strategies); “Mezzanine and Second Lien Structures – Intercreditor and Bankruptcy Issues” for The Capital Roundtable (San Francisco); and Current Developments in Corporate Chapter 11 Practice for the 18th Annual Southwest Bankruptcy Conference (Las Vegas).


  • California


  • University of California - Los Angeles, JD, 1991
  • University of California - Santa Barbara, BA, 1988