Pre-packaged administration sales (where a sale of key assets is agreed prior to the appointment of administrators and then implemented by the administrators immediately following their appointment), have been a widely-used...more
The economic impact of the COVID-19 pandemic led to a wave of creditor schemes of arrangement ("schemes") and restructuring plans ("RPs") in the second half of 2020, which shows no sign of abating in 2021. For the...more
Cov-lite loans can leave lenders with limited restructuring options, but creative lenders will still find ways to bring debtors to the table -
Recent data shows that investor protection in loan documents has fallen to its...more
7/13/2019
/ Board of Directors ,
Bonds ,
Covenant Lite Deals ,
Debt Market ,
Debt Restructuring ,
Debtors ,
EBITDA ,
EU ,
Fiduciary Duty ,
High-Yield Markets ,
Investor Protection ,
Lenders ,
Leveraged Debt ,
Material Adverse Events ,
Protective Covenants ,
UK
All three institutions of the European Union have now approved the EU Preventive Restructuring Framework Directive. This is the EU's first attempt to "harmonise" insolvency laws across the Member States, that have disparate...more
1/28/2019
/ Creditors ,
Debt Restructuring ,
Debtors ,
Entrepreneurs ,
EU ,
EU Directive ,
European Commission ,
European Parliament ,
France ,
Germany ,
Harmonization Rules ,
Insolvency ,
Italy ,
Member State ,
New Legislation ,
Scheme of Arrangement ,
Spain ,
UK