Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision
Podcast - Credit Funds: How Managers Can Avoid and Mitigate ERISA Conflicts
What’s the Deal? The Trust Indenture Act of 1939 (the “Trust Indenture Act” or the “TIA”)1 is the federal statute regulating the offer and sale of certain debt securities. The TIA, which is closely integrated with the...more
On August 24, 2023, the U.S. Court of Appeals for the Second Circuit in Kirschner unanimously held that notes evidencing syndicated loans do not plausibly qualify as “securities” covered by state and federal securities laws...more
Is today a Business Day? Good question, depends who you ask. The SEC’s EDGAR filing system is closed today for the Juneteenth Holiday. Because today is a federal holiday, today will not count as a business day in the filing...more
Here’s the deal: MTN programs are designed to enable frequent debt issuers to access the market quickly, without the burden of negotiating a suite of takedown documents for each debt issuance. ...more
A. Scope of Publication This publication: - summarizes the U.S. federal securities laws, rules and regulations that apply to debt restructurings (see Part II. below); - describes various types of debt restructurings (see...more
As the economic turbulence associated with the downturn in commodity prices and the outbreak of COVID-19 continues, many energy companies may find their debt trading at significant discounts. For companies trying to manage...more
Recently, the Securities and Exchange Commission approved FINRA’s proposed amendments to its Corporate Financing Rule, which are intended to modernize, simplify, and streamline the rule....more
On September 17, 2019, the Securities and Exchange Commission proposed rules to update the statistical disclosures that banks and loan registrants provide to investors, and eliminate disclosures that overlap with SEC rules,...more
Factual Allegations Insufficient to Establish US Transaction in Securities Fraud Suit by Cayman Islands Bank Against Brazilian Entity Relating to Debt Securities Sold Outside the US - Banco Safra S.A. – Cayman Islands...more