Distressed Investing – A Trade Is a Trade…but a Fund May Not Be an Eligible Assignee

July/August 2014 (Originally Published May 22, 2014)
Pratt's Journal of Bankruptcy Law

There are two recent rulings related to the trading of distressed debt: the first, confirms that a “trade is a trade” and the second puts in doubt the common belief that funds are financial institutions for the purposes of the “Eligible Assignee” definition in credit agreements. 

This Client Alert was republished in the July/August 2014 edition of Pratt's Journal of Bankruptcy Law, and the PDF can be viewed here. This article is reprinted with permission. 

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