Bankruptcy & Restructuring
Agents, Lenders, DIP Lenders, Lender Groups
Sections
Insights
Fifth Circuit Reverses Bankruptcy Court’s Ruling on Lenders’ Sacred Right of Pro Rata Repayment in Uptiering Transaction
January 23, 2025
Insights
Fifth Circuit Reverses Bankruptcy Court’s Ruling on Lenders’ Sacred Right of Pro Rata Repayment in Uptiering Transaction
January 23, 2025
Insights
Fifth Circuit Reverses Bankruptcy Court’s Ruling on Lenders’ Sacred Right of Pro Rata Repayment in Uptiering Transaction
January 23, 2025
Insights
Fifth Circuit Reverses Bankruptcy Court’s Ruling on Lenders’ Sacred Right of Pro Rata Repayment in Uptiering Transaction
January 23, 2025
Overview
Seward & Kissel regularly represents administrative and collateral agents, lenders, DIP lenders, and lender groups in both out of court restructurings and Chapter 11 cases.
The firm advises clients on financings, refinancings, and loan amendments (including LMEs), intercreditor arrangements, the use of cash collateral, DIP financing, collateral sales, negotiation and treatment of claims under Chapter 11 plans, and complex, structured foreclosures. This broad daily experience in this space leads to practical and efficient guidance that reflects the commercial and legal realities encountered throughout the distressed and restructuring process.
Capabilities
Related Practice Areas
Representative Work
Agent matters include:
- SAKs Global. Representing the agent under the DIP facility.
- Spirit Airlines II. Representing the agent under 2 DIP facilities.
- Anthology Inc. Representing the agent under the DIP facility.
- Zynex, Inc. Representing the agent under the DIP Facility.
- Village Roadshow Entertainment. Representing the collateral agent for the prepetition secured notes.
- Envision Healthcare. Representing the prepetition agent on AmSurg second lien debt.
Out-of-court matters include:
- Representing the same client in three unrelated structured foreclosures to create a buffer between the lenders and the assets/businesses foreclosed upon, and to facilitate collection of long-paying receivables and liquidation of certain assets over time, requiring that certain business infrastructure, including systems and relationships and licensing, was maintained, while winding down certain related entities and addressing offensive and defense litigation.
- Representing majority lender in Article 9 foreclosure of going concern business, including moving business and employees to Newco while concurrently litigating with minority lenders.
Related Practice Areas
Representative Work
Agent matters include:
- SAKs Global. Representing the agent under the DIP facility.
- Spirit Airlines II. Representing the agent under 2 DIP facilities.
- Anthology Inc. Representing the agent under the DIP facility.
- Zynex, Inc. Representing the agent under the DIP Facility.
- Village Roadshow Entertainment. Representing the collateral agent for the prepetition secured notes.
- Envision Healthcare. Representing the prepetition agent on AmSurg second lien debt.
Out-of-court matters include:
- Representing the same client in three unrelated structured foreclosures to create a buffer between the lenders and the assets/businesses foreclosed upon, and to facilitate collection of long-paying receivables and liquidation of certain assets over time, requiring that certain business infrastructure, including systems and relationships and licensing, was maintained, while winding down certain related entities and addressing offensive and defense litigation.
- Representing majority lender in Article 9 foreclosure of going concern business, including moving business and employees to Newco while concurrently litigating with minority lenders.
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