The StaRUG provides for a so-called stabilisation order to make it easier for companies to restructure. This is also referred to as a moratorium. We explain the requirements and consequences.
Germany, Company & Commercial, Insolvency & Restructuring, Litigation, GÖRG Partnerschaft von Rechtsanwälten
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