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Noteholders Forbearance Agreements

Skadden, Arps, Slate, Meagher & Flom LLP

New York Court of Appeals Ruling Could Shift Negotiating Leverage to Holdout Noteholders in Out-of-Court Restructurings

The New York Court of Appeals’ recent 4-3 opinion in CNH Diversified Opportunities Master Account, L.P. v. Cleveland Unlimited, Inc., 2020 WL 6163305 (NY Oct. 22, 2020), could provide minority noteholders with additional...more

Jones Day

New York's Highest Court Upholds Minority Noteholders' Rights Under Trust Indenture Act

Jones Day on

The Situation: In a sharply divided 4-3 decision, CNH Diversified Opportunities Master Account, L.P., et al. v. Cleveland Unlimited, Inc. et al., Case No. 42 (Oct. 22, 2020), the New York Court of Appeals reversed the courts...more

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