Court holds that TIA § 316(b) prohibits only non‐consensual amendments to an indenture’s core payment terms.
USA, Insolvency & Restructuring, Litigation, Morgan, Lewis & Bockius LLP, Bond (finance), US Congress, Second Circuit
Facts: The appellants were brothers who had incorporated a company (the “Corporation”) which was, in January 2008, involuntarily dissolved for failure to file corporate tax returns as required. In 2014, the minister issued an assessment under section 160 Notice of Assessment against the appellants.