The Trust Indenture Act of 1939 in Congress and the Courts in 2016: Bringing...
By Mark J. Roe, Harvard Law School The Trust Indenture Act’s ban on restructuring payment terms via a vote has come to the fore in recent litigation. This memo examines broad aspects of the recent...
View Article28 Law Firms Publish White Paper Addressing Trust Indenture Act Complications...
By David A. Brittenham, Matthew E. Kaplan, M. Natasha Labovitz, Peter J. Loughran, Jeffrey E. Ross, and My Chi To of Debevoise & Plimpton LLP On April 25, 2016, 28 leading U.S. law firms published...
View ArticleAwaiting the Second Circuit’s Decision in Marblegate
We anxiously await the Second Circuit’s decision in Marblegate, which was argued earlier this year. John Bessonette of Kramer Levin briefly summarizes the stakes: “Section 316(b) of the Trust Indenture...
View ArticleSecond Circuit Rules on § 316(b) in Marblegate
Last week, the Second Circuit decided Marblegate Asset Management, LLC v. Education Management Corp., holding that § 316(b) of the Trust Indenture Act (“TIA”) protects only bondholders’ formal, legal...
View ArticleExit Consents in Debt Restructurings
By Benjamin Liu (University of Auckland Business School) The exit consent technique refers to an offer by a bond issuer to all the bondholders to exchange the existing bonds for new bonds or other...
View ArticleOut-of-Court Restructurings After Marblegate: Trust Indenture Act Section...
Lawyers from Davis Polk, Drinker Biddle, and Wilmer Hale recently held a panel discussion entitled “Out-of-Court Restructurings After Marblegate: Trust Indenture Act Section 316(b) and Beyond.” Jude...
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