The Rise of the Venture Debt Market
Podcast: Credit Funds: The Benefits, Challenges and Applications of Treaty Fund Structures When Investing in Credit
Private equity investments
Debt Financing Trends – Joe Price, Member, Corporate & Securities Practice
Types of Crowdfunding
Private Credit is a hot – if not the hottest – asset class right now. This asset class has a nexus to a number of Cadwalader’s practices from fund finance to capital markets and beyond. To that end, last week we attended the...more
AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more
The macro-economic landscape of recent years, marked by rising interest rates and inflationary pressures, has significantly escalated borrowing costs in the European mid-market. This has prompted borrowers to explore...more
Despite three recent landmark UK restructuring plan decisions, uncertainty remains around the value, if any, a plan company should offer dissenting creditors as the “deliverability price” of a plan....more
The U.K. Jurisdiction Taskforce has published a consultation relating to its proposed Legal Statement offering guidance on the application of English insolvency law principles to digital assets. The proposed Legal Statement...more
Over the past decade there has been an influx of small- and medium-sized entrants to the U.K. gas supplier market, which is supervised by Great Britain’s independent energy regulator, the Office of Gas and Electricity Markets...more
Key Points - - The UK Supreme Court has affirmed directors' duty to consider creditors' interests. - The timing for the duty to be engaged is pushed back to when a company is bordering on insolvency. - Once the...more
UK Supreme Court gives important judgment on directors’ “creditor duty” The UK Supreme Court in BTI 2014 LLC v Sequana SA and ors [2022] UKSC 25 has given an important judgment clarifying the nature of the so-called “creditor...more
Pre-packaged administration sales (where a sale of key assets is agreed prior to the appointment of administrators and then implemented by the administrators immediately following their appointment), have been a widely-used...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
Key Points - Holdco PIK financing instruments may present an attractive and/or alternative source of capital for private equity sponsors to finance acquisitions or to facilitate dividend recapitalisations. Creditors...more
The trend of direct lenders providing preferred equity financing to support sponsors and operating companies has only accelerated in the two years since we first wrote on the topic. Preferred equity instruments in general...more
The United States Court of Appeals for the Seventh Circuit held that payments made by a debtor’s customers to its lender converting a pre-petition loan to a post-petition loan constituted disbursements for the purposes of...more
Increasingly, buyout sponsors are turning to third party preferred equity as a financing tool for their transactions. Structured to be treated as equity for debt rating agencies, bank regulatory regimes and in-place debt...more
Venture capitalists (“VCs”) often provide needed debt financing such as bridge loans to emerging companies in financial distress. However, given their insider status with these companies, VCs may encounter issues with such...more