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Articles by Bram Strochlic
Lessons From the Silicon Valley Bank Chapter 11: Preserving Indemnification and Contribution Rights | JD Supra
Executive Summary What is new: A June 2024 court decision in the Silicon Valley Bank Chapter 11 case held that a bar date can extinguish indemnification and contribution rights against a debtor, even if the underlying lawsuit is initiated post-bar date. Why it matters: This decision emphasizes the importance of directors, officers and other stakeholders proactively evaluating potential claims against a debtor and taking necessary protective measures to safeguard their rights.
Beyond Traditional Financing: Exploring Equity-Linked DIP Strategies in WeWork and Enviva
Building on emerging trends, 2024 has seen a continued rise in the use of equity-linked debtor-in-possession (DIP) financing in Chapter 11 cases. Recent examples from WeWork and Enviva illustrate how stakeholders are leveraging this innovative tool to drive broader reorganization strategies and outcomes rather than as a mechanism solely providing interim financing to fund a debtor’s operations during the pendency of its bankruptcy case.
Beyond Traditional Financing: Exploring Equity-Linked DIP Strategies in WeWork and Enviva | JD Supra
Building on emerging trends, 2024 has seen a continued rise in the use of equity-linked debtor-in-possession (DIP) financing in Chapter 11 cases. Recent examples from WeWork and Enviva illustrate how stakeholders are leveraging this innovative tool to drive broader reorganization strategies and outcomes rather than as a mechanism solely providing interim financing to fund a debtor’s operations during the pendency of its bankruptcy case.
Beyond traditional financing: Equity-linked DIP strategies in WeWork and Enviva
(June 17, 2024) - Skadden, Arps, Slate, Meagher & Flom LLP's Shana Elberg, Moshe Jacob and Bram Strochlic discuss the recent trend of using equity-linked debtor-in-possession financing strategies in Chapter 11 reorganization. Building on emerging trends, 2024 has seen a continued rise in the use of equity-linked debtor-in-possession (DIP) financing in Chapter 11 cases.
New York Court of Appeals Ruling Could Shift Negotiating Leverage to Holdout Noteholders in Out-of-Court Restructurings | JD Supra
The New York Court of Appeals’ recent 4-3 opinion in CNH Diversified Opportunities Master Account, L.P. v. Cleveland Unlimited, Inc., 2020 WL 6163305 (NY Oct. 22, 2020), could provide minority noteholders with additional negotiating leverage in the context of attempted out-of-court restructurings. However, the scope of this decision’s impact, and whether it conflicts with the U.S. Court of Appeals for the Second Circuit’s prior holding in Marblegate Asset Mgmt., LLC v. Educ. Mgmt. Fin.
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