On January 17, 2017, the Court of Appeals for the Second Circuit issued its long-anticipated opinion in Marblegate Asset Management, LLC v. Education Management Finance Corp., 1 ruling that Section 316(b) of the Trust Indenture Act of 1939, 15 U.S.C. § 77ppp(b) (the “Act”), prohibits only non-consensual amendments to core payment terms of bond indentures.
USA, Banking, Capital Markets, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Bond (finance), Second Circuit, United States bankruptcy court
On December 16, 2014, President Obama signed into law the $1.1 trillion Consolidated and Further Continuing Appropriations Act of 2015 (Appropriations Act), which includes some significant changes to the rules governing multiemployer pension plans, as well as a few changes affecting single employer pension plans.
USA, Employee Benefits & Pensions, Insolvency & Restructuring, Proskauer Rose LLP, Endangered species, Pension Benefit Guaranty Corporation, Pension Protection Act 2006 (USA)