Recent Developments
Recent Developments
There is no equivalent to the English law concept of trust under French law. This means that where a syndicated loan is to be secured by French obligors, security interests must generally be granted independently to each member of the syndicate (there will be a list of pledgees contained in the security document). Any change to that group of lenders would generally entail the transfer of the French law security to each new lender.
Recent 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
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
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.
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current global developments.