Fulltext Search
Marblegate: what does it mean for European restructurings?

In a highly-anticipated decision on a long-running bondholder dispute, the US Court of Appeals for the Second Circuit issued its judgment last week in Marblegate Asset Management LLC v Education Management Corp. It concluded that “Section 316(b) [of the US Trust Indenture Act 1939] prohibits only non-consensual amendments to an indenture’s core payment terms”, i.e. the amount of principal and interest owed and the maturity date.

European Union, USA, Capital Markets, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Consideration, Second Circuit
FDIC holds first in a series of roundtables on financial reform

On Tuesday, the FDIC held the first in a series of proposed roundtable discussions on the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which is intended to bring transparency to the rulemaking process. Government officials, industry executives, academics and investors were invited to participate in the discussion.

USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Consumer protection, Collateral (finance), Advance healthcare directive, Federal Deposit Insurance Corporation (USA), Federal Reserve (USA), Bear Stearns, Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA)