Last week’s Chapter 11 filing by NewPage Corporation, a company with assets and liabilities in the billions of dollars, stands as a relative rarity in the current restructuring environment.
USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Trade union, Hedge funds, Debt, Liability (financial accounting), Collective bargaining agreements, Balance sheet, Debtor in possession, Distressed securities, Bénéfice, US Environmental Protection Agency, Pension Benefit Guaranty Corporation
Some legal commentators have lamented the extent to which lenders have been able to use debtor in possession (“DIP”) financing arrangements to gain control over an entire Chapter 11 case.
USA, Delaware, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Debtor, Collateral (finance), Market liquidity, Debt, Default (finance), Debtor in possession, Leverage (finance), United States bankruptcy court, US District Court for District of Delaware