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Restructuring Secured Debt

Dechert LLP

Amicus Finance plc (in administration): High Court sanctions first mid-market restructuring plan, despite the opposition of...

Dechert LLP on

On the 19th of August 2021, the English High Court sanctioned a Part 26A restructuring plan proposed by the administrators of Amicus Finance plc (in administration) (“Amicus”) for the company’s solvent exit from...more

Morrison & Foerster LLP

Sanctioned: Virgin Active's Restructuring Plans

On 12 May 2021, the High Court sanctioned three inter-conditional restructuring plans, under the Part 26A of the Companies Act 2006, for certain English subsidiaries of the Virgin Active group, despite major opposition of...more

Locke Lord LLP

J. Crew Group, Inc.: Use of Credit Facility Baskets Eviscerates Value of Term Loan Collateral

Locke Lord LLP on

On September 7, 2017, an ad hoc, minority group of J. Crew’s senior term lenders (the “Dissenting Lenders”) filed an amended complaint against J. Crew and its affiliates (collectively, “J. Crew”) in the Supreme Court of the...more

Hogan Lovells

Update – Boart Longyear schemes of arrangement approved

Hogan Lovells on

In our previous blog post, we examined the decision of the New South Wales Court of Appeal to uphold the composition of classes of creditors in the Boart Longyear restructuring by way of scheme of arrangement....more

Skadden, Arps, Slate, Meagher & Flom LLP

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

Background - The debtors in Indianapolis Downs operated a combined horse racing track and casino in Indiana. They had substantial secured indebtedness: more than $98 million of first lien (first priority), $375 million...more

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