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
1/26/2024
/ Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Debt ,
Debt Restructuring ,
Divestiture ,
High-Yield Markets ,
Interest Rates ,
Lenders ,
Middle Market ,
Motion to Dismiss ,
Price Inflation
Once again, we reflect on the prior year for restructuring trends impacting private credit lenders. Last year it was all about “liability management”—the latest trend in which the limits of sponsor-favorable loan documents...more
1/18/2023
/ Bankruptcy Court ,
Capital Raising ,
Chapter 11 ,
Coronavirus/COVID-19 ,
Delaware ,
Interest Rates ,
Lenders ,
Liquidity ,
Loans ,
Motion to Dismiss ,
NY Supreme Court ,
Restructuring ,
Supply Chain ,
Supply Shortages ,
Ukraine ,
Vaccinations
A common yet contentious liability management strategy is an “uptier” transaction, where lenders holding a majority of loans or notes under a financing agreement seek to elevate or “roll-up” the priority of their debt above...more