Liability management transactions which may favour a subset of creditors over another are increasingly common in the US leveraged finance markets. 2024 may be seen as the year in which these US imports began to make a real...more
In the current market, investors are increasingly considering their options in relation to the stressed and distressed credits in their portfolios. Whilst mindful of stakeholder relationships, secured lenders may, in some...more
Earlier this year, the English Court refused to sanction two Part 26A restructuring plans ("RPs") which sought to bind HMRC, the UK tax authority, into restructurings via "cross-class cram down". (See "Restructuring Plans...more
Rises in energy costs, disruption to global supply chains, the situation in Ukraine, soaring inflation and higher interest rates are pushing several major European economies towards recession. Borrowers and issuers in the...more
11/14/2022
/ Borrowers ,
Due Diligence ,
Economic Sanctions ,
Energy Costs ,
Enforcement ,
EU ,
Foreign Direct Investment ,
High-Yield Markets ,
Investors ,
Jurisdiction ,
Marketing ,
Mortgages ,
Piercing the Corporate Veil ,
Price Inflation ,
Recessions ,
Shareholders ,
Supply Chain ,
Ukraine ,
Valuation
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