Debtwire Restructuring Forum - Miami

The must-attend event for the US restructuring community!

JW Marriott Miami, Brickell, Miami, Florida

01 Dec

Panel: Creditor-on-creditor tension - Dropdowns, uptiers, and what might be next?

In recent years, liability management transactions involving priming, uptiering and financing through an unrestricted subsidiary have led to misaligned goals between investors. This panel will review the current themes in lender-on-lender violence reviewing recent cases both in-court and out-of-court, as well as addressing the following questions:

  • Will a downturn and higher numbers of default cases lead to a reduction in creditor-on-creditor tension?
  • What are the most common maneuverers used by creditors to materially disadvantage other lenders? Uptier exchanges or covenant-stripping? 
  • How can lenders add provisions to proactively protect against uptiering? 
  • How do lender-on-lender violence strategies impact valuations, particularly in litigated cases?
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  • Speakers keyboard_arrow_down
    Matt Rahmani Executive Director PERELLA WEINBERG PARTNERS Bio
    Philip Brown Co-Portfolio Manager, Credit PSAM Bio
    Daniel Kamensky Board Member Creditor Rights Coalition Bio
    Ryan Preston Dahl Partner Ropes & Gray Bio
    Leonard Klingbaum Partner ROPES & GRAY Bio