Transatlantic Intercreditor Agreements: Comparing, Contrasting and Reconciling U.S. and European Approaches
Navigating Enforcement, Payment Obligations, Releases of Collateral, Limitations on First Lien Obligations and Bankruptcy Waivers
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will compare and contrast the key terms in U.S. second lien and European mezzanine intercreditor agreements. The program will discuss how the differences may dictate significantly different outcomes for the parties in cases of restructuring or insolvency.
- Parties to agreement
- Payment blockages
- Releases of collateral and guarantees
- Limitations on first lien obligations
- Amendment restrictions
- Purchase options
- U.S. bankruptcy waivers
- Credit bidding
The panel will review these and other key issues:
- What are the different assumptions underlying U.S. and European intercreditor agreements?
- What are the key differences in terms of U.S. and European intercreditor agreements?
- How do the differences in bankruptcy and insolvency processes in the U.S. and Europe influence certain terms of intercreditor agreements?
R. Timothy Bryan
Mr. Bryan practices in the area of corporate law with a focus on commercial finance. He concentrates his practice... | Read More
Mr. Bryan practices in the area of corporate law with a focus on commercial finance. He concentrates his practice on representing lenders, other capital providers, equity sponsors and portfolio companies in a wide range of debt transactions, as well as representing private equity funds and emerging and middle-market companies in investments and acquisitions. He also provides general corporate advice to private equity and other companies. In bankruptcy matters, Mr. Bryan represents creditors, including lenders and other capital providers, in pre-petition loans, debtor-in-possession financing and cash collateral matters; intellectual property licensors in license assumptions and transfers; asset purchasers in bankruptcy sales; and landlords.Close
Mark L. Darley
Skadden Arps Slate Meagher & Flom
Mr. Darley leads his firm’s European law banking practice and is global co-head of his firm’s Banking... | Read More
Mr. Darley leads his firm’s European law banking practice and is global co-head of his firm’s Banking Group. His practice focuses on leveraged finance, restructuring and project finance transactions. He advises both lenders and borrowers, including international financial institutions, private equity houses, hedge and other funds, and investment grade corporates.Close