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Quick Sales in Bankruptcy: Good or Bad?

Are quick asset sales to resolve bankruptcy a good or bad thing? The issue of whether Section 363 of the bankruptcy code, the section that permits quick asset sales, is in need of reform was first raised by the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11 (the “Commission”).  In its 2014 report the Commission pointed to the increased use of 363 sales and the increasingly fast pace at which they have been completed, and concluded (based on anecdotal evidence) that these two factors lead to systemic undervaluation of companies to the detriment of junior creditors.

Bankruptcy Update: Key Cases That May Affect You!

This week the LSTA hosted the fourth installment of our quarterly roundup of Recent Developments in Bankruptcy Law.  Rich Levin of Jenner & Block once again focused on a number of recent key cases for loan market participants.  Among the most interesting issues was the “extraterritorial” reach of the avoiding powers of Section 547 of the bankruptcy code.  

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Mark-to-Market Monthly November Summary

Last month in this space we boldly wrote “there is a silver lining for loans: they appear to be oversold”. And sure enough, following its worst monthly print this year (-0.45% in October) the S&P/LSTA Leveraged Loan Index (LLI) produced a four-month best 0.6% November return.

Demystifying the LSTA’s SOFR Concept Credit Agreement

Last week the LSTA hosted its Demystifying the LSTA’s SOFR Credit Agreement webcast presented by Jeffrey Nagle of Cadwalader, Wickersham & Taft LLP, the LSTA’s project counsel, and the LSTA’s Tess Virmani.

Semi-Annual Oil & Gas Industry Update Presentation

Energy finance practitioners from Haynes and Boone, LLP will discuss current energy finance topics, including the latest trends in oil and gas finance. The presentation was done by Eli Columbus, Partner, Bankruptcy Practice Group, Kraig Grahmann, Partner, Energy Finance Practice Group, Kim Mai, Associate, Commodities Trading & Finance Practice Group & Jeff Nichols, Co-Chair of […]