Second Circuit Confirms That Bond Issuers Can Restructure Out-of-Court Via Consent Solicitations

On January 17, 2017, the U.S. Court of Appeals for the Second Circuit issued an opinion in Marblegate Asset Management v. Education Management Corp., 15-2124-cv(L), 15-2141cv(CON) (2nd Cir. Jan. 17, 2017), overturning a broad interpretation of the Trust Indenture Act (TIA) by the U.S.

Filed under:
USA, Capital Markets, Insolvency & Restructuring, Litigation, Skadden Arps Slate Meagher & Flom LLP, Bond (finance), Second Circuit
Authors:
Mark A. McDermott , Jay M. Goffman , Gregory A. Fernicola , Sarah E. Pierce , Liz Downing
Location:
USA
Firm:
Skadden Arps Slate Meagher & Flom LLP