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Debt Restructuring Debt Bankruptcy Court

Ropes & Gray LLP

Petrofac Restructuring Plans Overturned: When Considering Restructuring Surplus’ Allocation, Sharing is Caring

Ropes & Gray LLP on

In a much-anticipated judgment (Saipem SPA & Ors v Petrofac Limited & Anor [2025] EWCA Civ 821), the English Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plans (the Plans). Petrofac was...more

Proskauer Rose LLP

Private Credit Restructuring: Priming DIPs in Focus

Proskauer Rose LLP on

In most chapter 11 cases, existing first lien lenders provide post-petition financing to preserve collateral value and maximize recovery. In some situations, a stressed borrower may threaten to pursue a hostile chapter 11...more

A&O Shearman

Time is an illusion. Lunchtime doubly so*

A&O Shearman on

The court reassures lenders on the effect of a termination notice, the meaning of a continuing Event of Default and the effectiveness of reservation of rights letters: Re Pocket Renting. Appointment of administrator...more

Mintz

Watch Your Language! Non-Pro Rata Uptier Transactions and the Serta and Mitel Decisions

Mintz on

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

Proskauer Rose LLP

New York Legislature Proposes New Sovereign Debt Restructuring Bill

Proskauer Rose LLP on

The New York State Legislature recently proposed a bill, entitled the Sovereign Debt Stability Act, intended to facilitate sovereign debt restructuring. The bill, which could be brought to a vote as soon as May or June 2024,...more

Proskauer Rose LLP

Staying Afloat in an Uncertain Economic World: Hope for the Best, Prepare for the Worst Private Credit Restructuring Year in...

Proskauer Rose LLP on

While global inflation and higher-for-longer interest rates dominated macroeconomic headlines over the last year, middle-market private credit restructurings witnessed three notable trends.  First, these credits remained...more

Arnall Golden Gregory LLP

Restructuring Roundup - September 2022

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

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