Unitranches Structures and Enforceability of AALs Including Insights from RadioShack Bankruptcy Court
Structuring Agreements Among Lenders, Maximizing Recovery for First-Out and Last-Out Lenders
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will discuss the varying structures of unitranches that are in the market today, considerations regarding the enforceability of Agreement Among Lenders (“AALs”), and the Delaware Bankruptcy Court’s recent consideration of the RadioShack Corp. AALs.
- Overview regarding unitranches
- Current trends in unitranches and different structures that have evolved in the market
- Enforceability of AALs in event of default or bankruptcy
- Discussion regarding enforceability of AALs
- Analysis of the Delaware Bankruptcy’s Court’s consideration of the AALs in RadioShack Corp.
- Other potential bankruptcy issues
- DIP financing provisions
- Entitlement of lenders to adequate protection/post-petition interest
- Credit bid provisions
- Plan classification disputes
The panel will review these and other key issues:
- What are current trends in unitranches and how are these facilities structured?
- What are the enforceability issues regarding AALs and what guidance did the Delaware Bankruptcy Court provide in the recent litigation among AAL lenders in the RadioShack bankruptcy?
- What are other potential bankruptcy issues in unitranches and what are the possible outcomes?
Jennifer B. Hildebrandt
Ms. Hildebrandt represents banks, commercial finance companies, hedge funds, and other lenders in commercial and... | Read More
Ms. Hildebrandt represents banks, commercial finance companies, hedge funds, and other lenders in commercial and corporate finance matters, leveraged finance transactions, asset-based finance transactions, multi-tranche and multi-lien transactions, and restructurings. In particular, she has extensive experience representing lenders in two lien deals, unitranche transactions, and bank / bond deals.Close
Jennifer St. John Yount
Partner, Corporate Department
Ms. Yount’s practice consists of representing banks, finance companies, and other lenders in working capital... | Read More
Ms. Yount’s practice consists of representing banks, finance companies, and other lenders in working capital financings, acquisition financings, bank/bond transactions, restructurings, and debtor in-possession and exit financings. Ms. Yount has negotiated numerous intercreditor and subordination agreements in 1st Lien/2nd Lien, split collateral, and mezzanine financings and agreements among lenders in unitranche and FILO financings.Close
Andrew V. Tenzer
Partner, Corporate Department
Mr. Tenzer represents lenders, troubled companies, and buyers and sellers of distressed assets in Chapter 11... | Read More
Mr. Tenzer represents lenders, troubled companies, and buyers and sellers of distressed assets in Chapter 11 reorganizations and in out-of-court and cross-border restructurings. He also has substantial experience in non-insolvency related syndicated financings, securitizations and structured finance transactions. Mr. Tenzer is the former Chairman of the New York City Bar Association’s Bankruptcy & Reorganization Division’s Committee on Cross-Border Restructurings and Chapter 15.Close