Decision restores certainty to out-of-court debt restructurings
In a surprising 2014 decision, the District Court for the Southern District of New York held that the Trust Indenture Act ...
Or, Some Perspective on Indenture Language Restoring the Commercial Understanding of “Make-Whole” Premiums That Prevailed Before Summer 2016
A covenant review service recently procla...
An issuer of high yield bonds won dismissal of claims brought by retail noteholders who claimed that a debt swap of new secured notes for unsecured notes, made available only to instituti...
Life sciences companies are frequent targets of securities litigation. Often, when a company discloses bad news about a developing device or drug, the company’s stock price drops and pl...
On November 17, the U.S. Court of Appeals for the Third Circuit, based in Philadelphia, held that noteholders were entitled to payment of an optional redemption premium at the make-whole ...
On November 18, the SEC’s Division of Corporation Finance published new guidance relating to its 2015 no-action letter on 5-day debt tender and exchange offers, and also provided guidan...
On September 28, in a long-anticipated move, the SEC proposed to shorten the standard settlement cycle for most broker-dealer transactions to two business days after the trade date (T+2) ...
We recently published a survey of corporate governance practices adopted by companies in their IPOs
. Our survey concluded that IPO companies continue to adopt charter provisions such as...
Last Wednesday, the SEC issued a proposal aimed at eliminating or updating duplicative, overlapping and obsolete disclosure requirements. The proposal is welcome, but largely technical in...
Spurred by a provision in the Dodd-Frank Act of 2010, in August 2012 the SEC adopted rules requiring companies to disclose payments made to governments in order to further oil, natural ga...
