Syndicated Credit Facility Restructuring and Workouts
Navigating Divergent Interests Among Lenders, Confidentiality, Voting Rights, and the Role of the Agent
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will discuss critical legal issues that arise in syndicated credit workouts, particularly for counsel representing the administrative agent and the other lenders in the facility. The program will address unique aspects of a multi-lender facility workout and best practices for lenders and administrative agents to form and execute a successful and efficient workout strategy.
Outline
- Varied and divergent interests of the lenders
- Responsibilities of the agent to other lenders
- Joint defense and confidentiality agreements
- Voting rights and issues
- Key terms of the syndicated loan agreement governing co-lender rights and obligations
- What's going on in the courts
Benefits
The panel will review these and other key issues:
- What are the unique aspects of multi-lender syndicated loan facilities and what is the interplay of those aspects in restructuring and working out a troubled loan?
- How does the syndicated loan agreement impact the rights of the agent to comply with instructions from co-lenders?
- What disclosures about the borrower, the terms of the loan, and borrower defaults must the agent provide to co-lenders?
- What happens when what "can't go wrong" does go wrong?
Faculty
Dr. Alison R. Manzer
Partner
Cassels Brock & Blackwell
Ms. Manzer is a member of the Firm's Financial Services Group. Her practice encompasses a broad range of commercial... | Read More
Ms. Manzer is a member of the Firm's Financial Services Group. Her practice encompasses a broad range of commercial practice in the financial services sector, including financial institution regulation, corporate and commercial lending, asset-based financing, securitization and structured finance, private equity, project finance, asset finance and leasing, business reorganization, syndicated lending and related areas. A significant part of her practice involves multi-jurisdiction transactions where she has expertise in the structuring requirements of financing, investment and securitization transactions to solve taxation, conflicts of laws, document structure, currency and rate issues, among others.
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James C. Schulwolf
Partner
Shipman & Goodwin
Mr. Schulwolf is a partner in Shipman's Business and Corporate Practice Group. He focuses his practice on... | Read More
Mr. Schulwolf is a partner in Shipman's Business and Corporate Practice Group. He focuses his practice on advising clients in financing, investment, acquisition, and restructuring transactions. In the Finance sector, Mr. Schulwolf regularly represents financial institutions including banks, mezzanine funds, and other institutional investors in structuring, documenting, and closing complex senior and mezzanine financings, including mezzanine financings with equity co-investments. He regularly represents lenders in connection with acquisition financings, financing of alternative energy projects (including wind, solar, and fuel cell projects), asset-based loans, cash flow loans, and syndicated credit facilities and he also represents Shipman's corporate clients and private equity portfolio companies in their financing transactions.
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Jeffrey A. Wurst
Partner
Armstrong Teasdale
Mr. Wurst has more than 30 years of experience and is well recognized for handling significant commercial finance and... | Read More
Mr. Wurst has more than 30 years of experience and is well recognized for handling significant commercial finance and bankruptcy matters. He is an esteemed fellow of the American College of Commercial Finance Lawyers and is a panelist on the American Arbitration Association’s National Roster of Arbitrators. Mr. Wurst has significant expertise in asset-based lending, factoring, and all other areas of commercial finance, bankruptcy matters, workouts and turnaround situations. He is actively involved in the documentation of commercial finance and leasing transactions, as well as litigation that may arise out of or in connection with such transactions.
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