LSTA Newsletter: July 16, 2021
This week we cover June Secondary; Debating a Multi-Rate World; Fixing Chapter 11
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Fixing Chapter 11
By Elliot Ganz. Recently, we reviewed two important law review articles focused on the breakdown of norms in restructuring and bankruptcy practice.
Bankruptcy and the Breakdown of Loan Market Norms
By Elliot Ganz. Much ink, here and elsewhere, has been spilled about the perceived breakdown of loan market norms over the past few years.
Loan Market Norms: Weaponizing Bankruptcy
The deterioration of market norms has received much attention during the past year. Most recently, we wrote about how increasingly long and complex loan documentation,…
The Rise of Bankruptcy Directors
In this Article, we use hand-collected data to shed light on a troubling innovation in bankruptcy practice. We show that distressed companies, especially those controlled…
LevFin Insights
So-called independent directors with strong ties to distressed debtors and private equity sponsors are being appointed with increasing frequency in large chapter 11 cases. In…
Purdue’s Poison Pill: The Breakdown of Chapter 11’s Checks and Balances
Purdue Pharma, the bankruptcy drug manufacturer at the center of the opioid crisis, entered into a controversial settlement of its civil and criminal liability for…
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