Recent Developments

Recent Developments

Recent Developments

The bankruptcy case of Energy Future Holdings (EFH) and its affiliates has already provided the Delaware bankruptcy court occasion to tackle a number of important bankruptcy questions, including the propriety of using tender offers to settle noteholder claims during the pendency of the case.

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.

Recent Developments

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.

Recent Developments

Questions Standing of Indenture Trustees to Pursue Fraudulent Conveyance Claims

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments

Recent Developments

On November 7, 2014, Judge Steven Rhodes, the judge presiding over the City of Detroit's bankruptcy case, announced that he would confirm the City's proposed Plan of Adjustment (the "Plan"), including the creditor settlements contained within that Plan. A more detailed written opinion will follow, but the opinion read from the bench on November 7, together with an earlier opinion in this case, are among the most important precedents in U.S. municipal bankruptcy law.

In recent years, second lien financings have increased in popularity. Senior creditors rely on intercreditor agreements to protect their interests by limiting the rights that junior lien holders would otherwise enjoy as secured creditors through either lien subordination, payment subordination, or both. Lien subordination requires the turnover to first lien creditors of proceeds of shared collateral until the first lien holders are paid in full.