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Lenders › Restructuring › Debt Restructuring

Herbert Smith Freehills Kramer

HSF Kramer Bankruptcy & Restructuring Group Global reach, local knowledge

Herbert Smith Freehills Kramer on

Debtors and creditors have options when choosing where to pursue a restructuring – particularly with operations across jurisdictions and debt instruments issued under different laws. Local knowledge is key to navigate those...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

Jones Day

Adler: English Court of Appeal Overturns Restructuring Plan

Jones Day on

The Situation: The Adler Group sought to restructure more than €6 billion of debt by means of a UK restructuring plan ("RP"), to give itself a runway for a planned wind-down and asset sales, leading to an enhanced return for...more

A&O Shearman

Court of Appeal Overturns Restructuring Plan Sanction and Looks at Cram Down

A&O Shearman on

On 23 January 2024, Snowden LJ handed down the Court of Appeal's judgment in the Adler Restructuring Plan case - AGPS Bondco plc - overturning the sanctioning of the Plan by the High Court in April 2023....more

Latham & Watkins LLP

English Court of Appeal Overturns Adler Sanction: What Next for Restructuring Plans?

Latham & Watkins LLP on

The decision represents the first appellate-level ruling on the Part 26A regime. On 23 January 2024, the Court of Appeal set aside the sanction of the Adler restructuring plan (RP) in the first appellate-level decision on...more

Proskauer Rose LLP

Trends in Private Credit Restructuring: Out of Court “Change of Control” Transactions

Proskauer Rose LLP on

Restructurings defy a one-size fits all approach because every deal is unique and different tools are required to solve different problems. At one end of the restructuring continuum is the so-called “amend and extend,” where...more

Katten Muchin Rosenman LLP

Intercreditor Distressed Disposal Provisions: Pragmatic Decision Provides Certainty for Stakeholders

Katten Muchin Rosenman LLP on

Investors in LMA-based intercreditor agreements (ICA) should be reassured by the commercial approach recently taken by the High Court in construing the "Distressed Disposal" provisions (DD Provisions)....more

White & Case LLP

Ready for restructuring

White & Case LLP on

HEADLINES - -Rising interest rates and reduced refinancing options are increasing the likelihood of restructuring and financial distress in the next 12 months -Cov-lite debt packages have given borrowers breathing...more

A&O Shearman

Recent restructuring plan cases: important guidance for advisers

A&O Shearman on

The restructuring plan has so far proven to be a powerful tool to facilitate restructurings of complex capital structures. Two recent cases provide further helpful guidance for advisers when formulating a restructuring plan...more

Latham & Watkins LLP

The Smile Telecoms Restructuring Plan: A Closer Look

Latham & Watkins LLP on

A restructuring plan completed earlier this year by Smile Telecoms notches up a number of firsts. African telecommunications provider Smile Telecoms Holding Limited, incorporated in Mauritius, successfully completed a...more

McDermott Will & Emery

Special Situations and the UK Corporate Insolvency and Governance Act

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The enacted Corporate Insolvency and Governance Act (the Act) introduces three permanent reforms to the existing insolvency legislation and certain temporary measures designed to address the immediate impact of COVID-19 on UK...more

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