Loan Workout Complications: Second Lien Issues

• Overview
• Agenda
• Faculty
• Credits

Approximately $50 billion of second lien loans were issued between 2003 and the second quarter of 2007. A significant portion of these second lien loans were issued to borrowers who are now in, or facing, restructuring and/or bankruptcy proceedings. This teleconference will examine the strengths and potential pitfalls of first lien/second lien intercreditor agreements in such a restructuring/bankruptcy framework. Specific attention will be paid to the interpretation and enforcement of debt caps, standstill and DIP financing provisions. The teleconference will also analyze how certain courts have interpreted intercreditor provisions in the context of sales affected pursuant to Section 363 of the Bankruptcy Code. By the end of the teleconference, you will have a clear understanding of current market terms for first lien/second lien intercreditor agreements and how courts are enforcing these provisions.

Faculty

Dana S. Armagno, Vedder Price P.C.
Douglas J. Lipke, Vedder Price P.C.
John T. McEnroe, Vedder Price P.C.

Registration

To register for this live audio conference please dial 1-866-411-6211.