Transatlantic Intercreditor Agreements: Comparing, Contrasting, and Reconciling U.S. and European Approaches
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will compare and contrast the critical terms in U.S. and European second lien intercreditor agreements. The panel will discuss how the differences in restructuring or insolvency law may dictate significantly different provisions regarding enforcement, payment and other contract language. They will also discuss some blended approaches taken in recent transactions.
- Parties to agreement
- Payment blockages
- Releases of collateral and guarantees
- Limitations on first lien obligations
- Amendment restrictions
- Purchase options
- Common U.S. bankruptcy waivers
- Non-cash consideration/credit bidding
- Holders of shareholder obligations and intragroup obligations
The panel will review these and other key issues:
- What are the different assumptions underlying U.S. and European intercreditor agreements?
- What are the critical differences between U.S. and European intercreditor agreements?
- How do the differences in bankruptcy and insolvency processes in the U.S. and Europe influence specific 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
Susan A. Laws
Duane Morris, London
Ms. Laws is co-head of the firm's London office and serves on Duane Morris' Executive Committee. Ms. Laws... | Read More
Ms. Laws is co-head of the firm's London office and serves on Duane Morris' Executive Committee. Ms. Laws focuses her practice on business law and finance, mergers and acquisitions and venture capital financings. She has worked "in house" in the engineering, automotive and insurance sectors as well as in private practice.Close