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How Much Momentum Will Momentive Create? Judicial Interpretation and Enforcement of Intercreditor Agreements

The more things change with intercreditor agreements, the more they stay the same — or so it seems. The interpretation and enforcement of intercreditor agreements continues to take center stage in many cases (high-profile and otherwise), and each decision seems to equally shed more light and raise more questions about intercreditor agreements in the bankruptcy context. This panel focuses on the recent Momentive and TXU decisions, including the enforcement (or not) of make-whole provisions, acceleration and de-acceleration, and the use of tender offers/settlements to effect the payoffs of first-lien lenders. The panel also examines the current trends in drafting and enforcement of various provisions, including voting assignments, pre-bankruptcy waivers and more.

22nd Annual Northeast Bankruptcy Conference
2015
Materials Year: 
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