In recent years, the distressed market has trended away from in court proceedings toward antagonistic transactions to effect balance sheet restructurings, commonly referred to as liability management transactions. Our expert panelists will provide an overview of uptiering and dropdown transactions and provide a case study of notable cases/credits including Trimark, Boardriders and Revlon. In addition, they will plan to:
- Take a deeper dive into Serta where the first decision was made ruling on what constitutes an “open market purchase" which provides an exception to the ratable sharing provisions of credit agreements
- Discuss the origin of the open market purchase exception and the argument and action in the Serta Cases through the courts and into the bankruptcy court
- Draw on market leading expertise and experience in litigation, claims trading, finance, and restructuring and discuss current documentation trends, how lenders can protect themselves and predictions for the future
Contact Kerry Blanch at email@example.com.