In many ways, 2024 continued existing trends in private credit: modest levels of M&A activity, competition among direct lenders to deploy capital, higher-for-longer interest rates, persistent inflation, elevated default...more
1/29/2025
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Lenders ,
Liability ,
Popular ,
Private Equity ,
Reorganizations
One common denominator links nearly all stressed businesses: tight liquidity. After the liquidity hole is identified and sized, the discussion inevitably turns to the question of who will fund the necessary capital to extend...more
10/15/2024
/ Borrowers ,
Capital Raising ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit ,
Creditors ,
Enforcement ,
Equity ,
Liquidity ,
Loan Syndication and Trading Association (LSTA) ,
Loans ,
Reorganizations ,
Restructuring ,
Shareholders
Retaining key management at a distressed company in the midst of an out-of-court restructuring can be necessary for the success of the restructuring. To realign incentives, private credit lenders need to consider reloading...more
In our prior alert over the summer, we highlighted the Delaware Supreme Court’s decision in Stream TV Networks, Inc. v. SeeCubic, Inc., 279 A.3d 323, 329 (Del. 2022) (“Stream TV”), which held an insolvent corporation could...more
Navigating the Bankruptcy Code can present many traps for unsuspecting debtors, creditors or asset buyers. The U.S. District Court for the District of Delaware recently reminded bankruptcy participants of an often overlooked...more
Navigating the Bankruptcy Code can present many traps for unsuspecting debtors, creditors, or asset buyers. The Delaware District Court recently reminded bankruptcy participants of an often overlooked pitfall involving the...more
12/1/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Collective Bargaining Agreements (CBA) ,
Creditors ,
Debtors ,
Delaware ,
Free and Clear Transactions ,
NLRA ,
NLRB ,
Non-Discrimination Rules ,
Successor Liability ,
Successors ,
Unions ,
United Steelworkers
This past year was marked by extraordinary deal activity. Record breaking M&A activity drove record breaking private credit activity. Private equity M&A activity was at a substantial high, with over 8,500 deals worth $2.1...more
2/8/2022
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
First-Lien ,
Insolvency ,
Lenders ,
Make-Whole Premium ,
Purdue Pharma ,
Reorganizations