Not for You, Second Lien Creditor: Delaware Bankruptcy Court Reaffirms First Lien Intercreditor Right to Carve Out Collateral

The liquidity-fueled lull in restructuring activity provides both an interesting historical echo of the late 1990s and a useful opportunity for market participants to take note of a deceptively interesting opinion in Giuliano ex rel. Consolidated Bedding, Inc. v. L&P Financial Services Co. (In re Consolidated Bedding, Inc.), Case No. 19-50727, 2021 WL 2638594 (Bankr. D. Del. June 25, 2021) (Shannon, J.).

Filed under:
USA, Delaware, Insolvency & Restructuring, Litigation, Ropes & Gray LLP, Bankruptcy
Authors:
Ryan Preston Dahl , Benjamin M. Rhode , Daniel Gwen
Location:
USA
Firm:
Ropes & Gray LLP