Debt Restructuring and Indenture Amendments: Curing Ambiguities, Navigating Competing Intercreditor Agreements
Lessons From GSO Coastline Credit Partners v. Global A&T Electronics
Recording of a 90-minute CLE webinar with Q&A
This CLE course will discuss the ability of issuers of debt to amend the governing indentures and intercreditor agreements without debtholder consent. The program will focus on the distinction between substantive and technical amendments, interpretation of relevant provisions of the intercreditor agreement, and a recent New York appellate ruling in this area.
Outline
- Ambiguity vs. substantive amendments
- Impact of intercreditor agreements on ability to unilaterally amend indentures
- Recent case law on indenture amendments
Benefits
The panel will review these and other key issues:
- Determining whether an indenture amendment is a technical ambiguity or an amendment with substantive consequences
- Interpreting competing intercreditor agreement provisions
- Determining whether terms of a relevant intercreditor agreement trump the indenture provisions
- Takeaways from GSO Coastline Credit Partners v. Global A&T Electronics for counsel to issuers and debtholders involved in debt restructuring
Faculty
Michael J. Hampson
Partner
Lowenstein Sandler
Mr. Hampson is a securities and complex commercial litigator who represents institutional investors, directors and... | Read More
Mr. Hampson is a securities and complex commercial litigator who represents institutional investors, directors and officers, investment managers, hedge funds, private equity firms, fiduciary services companies, financial institutions, corporations, and individuals in federal and state court cases. He represents clients in disputes involving the antifraud provisions of the federal securities laws, short-swing profits disgorgement, credit ratings fraud, breach of fiduciary duty, and shareholder appraisal rights. He also represents clients in complex commercial cases involving contract disputes, predatory lending, finder’s fee claims, and pharmaceutical litigation.
CloseSheila A. Sadighi
Partner
Lowenstein Sandler
Ms. Sadighi practices in her firm's Securities Litigation and Enforcement Group. Her practice focuses on the... | Read More
Ms. Sadighi practices in her firm's Securities Litigation and Enforcement Group. Her practice focuses on the representation of hedge funds, private equity and other institutional investor and lender clients in a variety of litigation and counseling contexts. She often works with the firm’s Investment Management and Creditors’ Rights Groups to counsel the firm’s financial sector clients. She represents clients in litigations and negotiations relating to credit agreements, indentures, registration rights agreements, CLOs and CDOs, LSTA par/near par trades, ISDA Master Agreements and related CSAs, and other derivatives contracts. She handles prime broker and margin disputes, valuation disputes, and general commercial claims.
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