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Second Circuit Overturns Marblegate, Rejecting Expansive Interpretation of Section 316(b) of the Trust Indenture Act
  • Sullivan & Cromwell LLP
  • USA
  • January 19 2017

On January 17, 2017, a split panel of the U.S. Court of Appeals for the Second Circuit held that the series of transactions to restructure the debt


Appeals Court Overturns Marblegate, Citing Analysis by Shearman & Sterling Partner
  • Shearman & Sterling LLP
  • USA
  • January 18 2017

The law on debt restructurings and liability management is back to where it was. Yesterday, the Second Circuit Court of Appeals reversed the


Marblegate’s Lost Marbles and Why Bondholders and Indenture Trustees Should Care
  • Squire Patton Boggs
  • USA
  • January 18 2017

This week the U.S. Court of Appeals for the Second Circuit issued its highly-anticipated ruling in Marblegate Asset Management, LLC v. Education


Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • January 18 2017

On January 17, 2017, the Court of Appeals for the Second Circuit issued its long-anticipated opinion in Marblegate Asset Management, LLC v. Education


Marblegate Decision Overturned by the Second Circuit Court of Appeals
  • Paul Hastings LLP
  • USA
  • January 18 2017

Section 316(b) of the Trust Indenture Act of 1939 (“TIA”) provides that, subject to certain exceptions, the right of a holder of an indenture security


Expect the unexpected: The year ahead for the Financial Institutions Sector
  • Hogan Lovells
  • European Union, United Kingdom, USA
  • January 13 2017

There’s nothing new about change in the financial institutions sector. As in previous years, change for firms will be driven largely by regulation and


Court Rejects 316(b) Claims in Cliffs Natural Resources
  • Weil Gotshal & Manges LLP
  • USA
  • December 8 2016

Since Marblegate was decided in 2014, the only court to address claims under 316(b) of the Trust Indenture Act (“TIA”) in the context of a corporate


Funds Talk: December 2016
  • Kramer Levin Naftalis & Frankel LLP
  • European Union, France, United Kingdom, USA
  • December 1 2016

The Office of Compliance Inspections and Examinations (OCIE) announced it is examining registrants' compliance with key whistleblower provisions


Third Circuit Rules That Make-Whole Claims of Energy Future’s Bondholders Are Enforceable in Chapter 11 Proceeding
  • K&L Gates
  • USA
  • November 28 2016

In a November 17, 2016 ruling likely to impact ongoing debt restructurings, pending bankruptcy proceedings and negotiations of new debt issuances, the


Ending the 10b-5 Hold-up: Aéropostale Rejects Debtor’s Attack on Traders
  • Kramer Levin Naftalis & Frankel LLP
  • USA
  • October 24 2016

In an August 2016 decision in the Aéropostale bankruptcy case,1 the Bankruptcy Court for the Southern District of New York held that allegations of