In a recent decision in the bankruptcy case of Del Monte Foods, the U.S. Bankruptcy Court for the District of New Jersey interpreted a liability management exercise that was challenged through the prepetition term loan agreement’s ratable sharing provision in the context of a debtor-in-possession financing and related roll-up, thereby providing the first actual market guidance on this issue.
NJ Bankruptcy Court Provides Guidance On Future Liability Management Exercises
In a recent decision in the bankruptcy case of Del Monte Foods, the U.S. Bankruptcy Court for the District of New Jersey interpreted a liability management exercise that was challenged through the prepetition term loan agreement’s ratable sharing provision in the context of a debtor-in-possession financing and related roll-up, thereby providing the first actual market guidance on this issue.
By
Alex R. Rovira , Jonathan W. Young and Michael A. Sabino
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