Marblegate II and the “Tyranny of the Minority” – Another Weapon is Added to Bondholders' Arsenal to Disrupt Exchange Offers and Restructurings

July 8, 2015

Client Alert
A recent decision in the Southern District of New York interpreting the Trust Indenture Act will likely provide bondholders additional leverage in out-of-court restructurings, and may result in future restructurings and exchange offerings occurring through a bankruptcy process rather than a structured out-of-court settlement process.

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