Education Management Corporation
In September 2014 proposed moving all business assets to a newco through foreclosure on the secured collateral, with newco debt and equity offered only to consenting creditors. Straddles the old consent-solicitation model and the modern LME; the Marblegate litigation followed.
Discussed in Liability Management Exercises: Law and Practice at ¶¶ 2.91, 2.145, 2.147–2.149, 2.151–2.153.