Recently, in In re Moon Group Inc., a bankruptcy court said no, but the district court, which has agreed to review the decision on an interlocutory appeal, seems far less sure.
The bankruptcy court held that a lockbox...more
7/14/2023
/ Advances ,
Appeals ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 7 ,
Credit Agreements ,
Debtors ,
Interlocutory Appeals ,
Lenders ,
Line of Credit ,
Liquidity ,
Notice of Default
Those seeking to purchase assets or a business out of a Chapter 11 case employing a “loan to own” strategy may well have received a boost from a recent decision of the U.S. Court of Appeals for the Ninth Circuit....more
2/13/2019
/ Acquisition Finance ,
Appeals ,
Asset Purchaser ,
Bad Faith ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Dual Class Share Structures ,
Global Market ,
Majority Voting Policies ,
Mortgage Lenders ,
Private Equity ,
Reaffirmation ,
Reorganizations ,
Reversal ,
Split of Authority
When a portfolio company underperforms, an equity sponsor will want to assess the degree of negotiating leverage the company’s lenders have against the company under the circumstances, which can play a significant role in...more
4/12/2017
/ Acquisition Finance ,
Appeals ,
Bankruptcy Court ,
Bondholders ,
Breach of Contract ,
Chapter 11 ,
Commercial Bankruptcy ,
Consent ,
Debt Restructuring ,
Default ,
Forbearance Agreements ,
Lenders ,
Post-Bankruptcy Covenants ,
Remedies ,
Subsidiaries ,
Trust Indenture Act ,
Vessels