Intercreditor agreements--contracts that lay out the respective rights, obligations and priorities of different classes of creditors--play an increasingly important role in corporate finance in light of the continued prevalence of complex capital structures involving various levels of debt. When a company encounters financial difficulties, intercreditor agreements become all the more important, as competing classes of creditors seek to maximize their share of the company's limited assets.
USA, New York, Banking, Insolvency & Restructuring, Litigation, Mayer Brown, Bankruptcy, Secured creditor, Unsecured creditor, Uniform Commercial Code (USA), Second Circuit, United States bankruptcy court, US District Court for the Southern District of New York