Trust Indenture Act

The Importance of Being Bound: Bondholders’ Vote and Workouts in the U.S. and in Italy

By Francesca Prenestini (Bocconi University, Milan) Most legal systems follow one of two rules for regulating the capacity of …

By Steven L. Schwarcz (Duke University School of Law) Indenture trustees act for the benefit of the investors in a company’s …

Lawyers from Davis Polk, Drinker Biddle, and Wilmer Hale recently held a panel discussion entitled “Out-of-Court Restructurings …

By Benjamin Liu (University of Auckland Business School) The exit consent technique refers to an offer by a bond issuer to all the …

Last week, the Second Circuit decided Marblegate Asset Management, LLC v. Education Management Corp., holding that § 316(b) of the …

We anxiously await the Second Circuit's decision in Marblegate, which was argued earlier this year. John Bessonette of Kramer …

By David A. Brittenham, Matthew E. Kaplan, M. Natasha Labovitz, Peter J. Loughran, Jeffrey E. Ross, and My Chi To of Debevoise …

By Mark J. Roe, Harvard Law School The Trust Indenture Act’s ban on restructuring payment terms via a vote has come to the fore …

In light of recent court developments in Marblegate and Caesars, in which courts interpreted Section 316(b) of the Trust Indenture …

By Mark J. Roe, Harvard Law School The Trust Indenture Act of 1939 bars binding bondholder votes on core payment terms. The …

Author: Carlos Berdejó, Loyola Law School, Los Angeles Economic theory suggests that corporate law should enable parties to …