Contact: John Hartgen
             703-739-0800
             [email protected]

NEW ABI PUBLICATION PROVIDES IN-DEPTH ANALYSIS OF SECOND LIENS AND INTERCREDITOR AGREEMENTS

May 7, 2009 Alexandria, Va. — The American Bankruptcy Institute today releases the Handbook on Second Lien Loans & Intercreditor Agreements to assist practitioners in understanding the development and practices involved with second lien financing. Second lien loans are typically made by creditors to a bankrupt company with a security interest in the assets of a company that are second behind a primary or “senior” credit facility. As second lien financing has become more prevalent in today’s chapter 11 practice, authors Mark N. Berman of Nixon Peabody LLP (Boston) and Jo Ann J. Brighton of K&L Gates LLP (Charlotte, N.C.) wrote the Handbook to examine implications of the second lien financing market over the last decade. The Handbook provides an in-depth analysis of intercreditor agreements used in second lien financings, by providing practical examples of sample clauses, followed by an analysis of the legal issues presented when parties contemplate the enforceability of those clauses in the context of a borrower bankruptcy proceeding.

Members of the press interested in interviewing the authors should contact John Hartgen at 703-894-5935 or [email protected]. The 116-page softbound Handbook is available for pre-order ($25 ABI members; $45 non-members) at ABI's Online Bookstore. Click here to order. http://www.abiworld.org/abistore

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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 12,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.