Part One of a Two-Part Article
There has been a perceptible increase in the number of bankruptcy transactions taking place with the underlying arrangements being placed under seal.
Bankruptcy Behind Closed Doors
There has been a perceptible increase in the number of bankruptcy transactions taking place with the underlying arrangements being placed under seal. In other instances, the debtor indicates in its motion seeking approval of the transaction that it will not be providing the underlying agreement on which the transaction is based except to the major parties in the case (typically the judge, the creditors' committee, the DIP lenders and the United States Trustee). The burden then shifts to parties in interest to seek to obtain the information if they desire to review it. Part One of a Two-Part Article.
By
Jeff J. Friedman And Merritt A. PardiniThis premium content is locked for The Bankruptcy Strategist subscribers only
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