When a portfolio company underperforms, an equity sponsor will want to assess the degree of negotiating leverage the company’s lenders have against the company under the circumstances, which can play a significant role in...more
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware handed down an important ruling last week that turned aside most of an unusual challenge to the fees and expenses of an indenture trustee in the...more
This month’s issue of Debt Dialogue addresses the Second Circuit’s recent Marblegate decision, the controversy generated by last year’s Cash American decision, and payment of indenture trustee fees in bankruptcy, as well as...more
In December 2014 and January 2015, the United States District Court for the Southern District of New York issued two sets of decisions — Marblegate Asset Mgmt. v. Educ. Mgmt. Corp. and MeehanCombs Global Credit Opportunities...more
On December 31, 2014, when the price of West Texas Intermediate crude oil dropped 50% from summer prices that year to just under $55.00 per barrel, experts predicted there would be a flurry of industry restructurings; but no...more
Bankruptcy and restructuring professionals usually do not need to be political junkies. Amendments to the Bankruptcy Code, and the accompanying machinations of the Congressional legislative process, typically occur at a...more
When a portfolio company underperforms, a sponsor may consider various options to address the perceived performance issues, including changes to a portfolio company’s management team, cost structure, capital structure or...more
Restructuring decision broadly interpreting bondholder protections under the Trust Indenture Act may significantly impact out-of-court restructurings. On December 30, 2014, the US District Court for the Southern...more