The Evolution of Cross-Border Restructuring Processes
There is no set of fixed rules when negotiating intercreditor arrangements as every deal is fact-specific, generally subject to significant negotiation and ultimately dependent on competing business rationales and negotiating...more
Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more
A series of decisions over the past year — on issues such as make-whole premiums, intercreditor agreements, backstops for rights offerings and nonconsensual third-party releases — will likely have a significant impact in 2020...more
Persisting political and economic uncertainty means awareness of market changes remains crucial. The 2008 distress cycle triggered defaults and restructurings for European PE portfolio companies, as maintenance covenant...more