Among the many financial innovations that came out of the COVID era, non-pro rata uptier transactions as a liability management exercise (“LMEs”) are among the more controversial. While lawsuits challenging non-pro rata...more
The Supreme Court has granted certiorari to decide the question of whether bankruptcy courts should apply state law or a federal rule of decision when determining whether to recharacterize a debt claim as a capital...more
7/5/2017
/ Bankruptcy Code ,
Bankruptcy Court ,
Capital Expenditures ,
Certiorari ,
Debt-Equity ,
Distressed Debt ,
Equity ,
Federal v State Law Application ,
Investors ,
Lenders ,
PEM Entities LLC v. Levin ,
Recharacterization ,
SCOTUS ,
Split of Authority