In this podcast, Nicholas Laveris, Of Counsel of Orrick, and Amy Pasacreta, Senior Associate of Orrick, discuss the LSTA’s Form of Proceeds Letter Agreement which can be used to settle a distressed trade where the borrower is a debtor in a case under Chapter 11 of the Bankruptcy Code, the class in which the Loan is placed under the Plan is “impaired” as that term is used in section 1124 of the Bankruptcy Code, the Plan has been confirmed, and the Plan’s effective date has occurred.

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