Len Weiser-Varon

Len Weiser-Varon

Mintz Levin

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Court Rules on Applicability of Make-Whole Premiums Upon Debt Acceleration

In the context of make-whole premiums, court decisions suggest that the applicability of the premium upon a refinancing in bankruptcy will be governed by the wording of the debt documents, and that if an automatic...more

9/19/2014 - Commercial Bankruptcy Debt Restructuring Insurers Make-Whole Premium Prepayment Penalties

PREPA Bondholders Seek Summary Judgment Invalidating Puerto Rico’s Public Corporation Bankruptcy Legislation

On August 11, Franklin Funds and Oppenheimer Rochester Funds filed a second amended complaint, opposition to motion to dismiss and cross-motion for summary judgment in the litigation they previously filed in the United States...more

8/13/2014 - Bonds Commercial Bankruptcy PREPA Summary Judgment

Puerto Rico Poised to Enact Bankruptcy-Like Legislation for Certain Revenue Bond Issuers

Puerto Rico’s Governor Alejandro Garcia Padilla today introduced debt restructuring legislation which, upon enactment, would provide a judicial debt relief process in Puerto Rico’s courts for certain public corporations,...more

6/26/2014 - Bonds Commercial Bankruptcy Restructuring

Second Circuit Rules Against Make-Whole Premium for Refinancing of Accelerated Debt

The U.S. Court of Appeals for the Second Circuit has upheld a bankruptcy court’s decision enforcing indenture language providing for the automatic acceleration, without make-whole premium, of secured American Airline, Inc....more

9/16/2013 - American Airlines Aviation Industry Commercial Bankruptcy Debt Make-Whole Premium Refinancing

AMR Decision Highlights Bankruptcy Court Split on Enforceability of Ipso Facto Clauses

A recent ruling in the American Airlines bankruptcy case enforcing an automatic acceleration upon bankruptcy provision serves as a reminder that the enforceability of so-called ipso facto provisions in debt instruments...more

2/20/2013 - American Airlines Commercial Bankruptcy

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