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Debt Restructuring Borrowers Loans

Goulston & Storrs PC

Rethinking Liability Management in Club Deals and Direct Lending: Lessons from the Fifth Circuit’s Serta Ruling and Beyond

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On December 31, 2024, the Fifth Circuit Court of Appeals (the “Court”) struck down the controversial 2020 “uptier transaction” executed by Serta Simmons Bedding (“Serta”). The Serta case and several other state court and...more

Proskauer Rose LLP

Private Credit Deep Dives – What to do following an Event of Default in a consensual setting (Europe)

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Over the past year, we have seen a significant increase in Events of Default (each, an “EoD”) arising from financial underperformance. This trend is largely driven by the high interest rate and inflationary environment, with...more

Mayer Brown

Serta and Mitel: The Latest Major Court Decisions on Uptier Transactions

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Summary: On December 31, 2024, two major appellate court decisions addressed the legality of uptier financing transactions—one involving Serta Simmons Bedding (“Serta”) and the other Mitel Networks Corporation (“Mitel”). Both...more

Alston & Bird

Structured Finance Spectrum - Summer 2023

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features smooth sailing through safe harbors, the English Court doing the cross-class...more

Morgan Lewis

When Is a Guaranty Claim Reduced by Recovery in a Debtor’s Bankruptcy Case?

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Consider a lender that extends a term loan in the amount of $1 million to an entity debtor. The loan is guaranteed by the debtor’s owner. If both the debtor and the guarantor become subject to bankruptcy cases, it is settled...more

Proskauer Rose LLP

Private Credit Lenders – Navigating Successor Liability Issues

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The primary investment thesis of a private credit lender is simple — get the loan repaid at maturity. Private credit lenders do not make loans as a means to acquire their borrower’s business. There are circumstances, however,...more

Herbert Smith Freehills Kramer

We Can Work It Out: Overcoming Obstacles to Real Estate Workouts

Real estate lenders and borrowers everywhere are trying to figure out what to do with properties that are either sitting vacant or underperforming pre-pandemic expectations. In New York, a number of mezzanine foreclosures...more

King & Spalding

Lenders’ Duties when Enforcing Security

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Against the backdrop of the Covid-19 pandemic and global economic slowdown, we are being asked by borrower and lender clients alike whether lenders have a duty of care as regards enforcement. Two recent cases before the...more

Opportune LLP

Path Forward: Borrowing Base Redeterminations In A Restructuring World

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How will oil and gas companies adapt to tightening bank loan requirements amid commodity price uncertainty and an ongoing pandemic going forward? Opportune Managing Director David Morris explains on the latest episode of...more

Akin Gump Strauss Hauer & Feld LLP

Exploring European Bonds, Loans and Covenants

Akin Gump London-based financial restructuring partner Liz Osborne and finance partners Amy Kennedy and Stephen Peppiatt discuss European bonds, loans and the various flavors of covenants in the current liquidity constrained...more

Carlton Fields

Loan Restructuring and Forbearance Agreements in the Face of COVID-19 – The Hotel Borrower’s Perspective

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This article is a companion piece to a similar article that examined loan restructurings, extensions, and forbearances from a lender’s perspective. ...more

K&L Gates LLP

Distressed Solutions: The Ins and Outs of Receiverships

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Receiverships are an extraordinary remedy that can maximize the return to creditors by freezing assets and allowing a third party to conduct necessary litigation. John Gardner (Raleigh) and David Neu (Seattle) join host...more

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