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ILPA Releases Considerations for GP-led Secondary Fund Restructurings

In April 2019, the Institutional Limited Partners Association (“ILPA”) released a set of considerations for Limited Partners and General Partners with respect to General Partner-led secondary fund restructurings (the “ILPA Memo”). The ILPA Memo can be viewed here.

USA, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Weil Gotshal & Manges LLP
The court in ResCap denies in part and grants in part secured lenders’ motion to dismiss committee complaint challenging secured status

In an adversary proceeding arising out of the Chapter 11 case of Residential Capital, LLC (“ResCap”), the bankruptcy court denied in part and granted in part a secured lenders’ motion to dismiss certain claims in the case. Official Comm. Of Unsecured Creds. V. UMB Bank, N.A. (In re Residential Capital, LLC), Adv. P. No. 13-01277, -- B.R. --, 2013 WL 4069512 (Bankr. S.D.N.Y. Aug. 13, 2013). At issue was certain collateral, which was part of the secured lenders’ collateral, that the lenders released to enable ResCap to pledge it to different third parties.

USA, New York, Banking, Insolvency & Restructuring, Litigation, Alston & Bird LLP, Collateral (finance), Secured loan, US District Court for the Southern District of New York