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The Covenant Loophole That Wasn’t: SDNY Derides Windstream’s Structuring Efforts as “Too Cute by Half”

On February 15, 2019, following a full bench trial, the Honorable Jesse M. Furman (S.D.N.Y.) entered judgment in favor of Aurelius Capital Master, Ltd. (“Aurelius”) and against Windstream Services, LLC (“Windstream”) in the...more

Neiman Marcus Capitalizes on Weak Covenant Package to Transfer Valuable Assets Beyond the Reach of Certain Creditors

On September 21, 2018, Marble Ridge Capital (“Marble Ridge”) issued a press release indicating that Marble Ridge had sent a letter to the board of directors of Neiman Marcus alleging that certain transactions entered into by...more

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