Liability management exercises · defined & tracked

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Deal Tracker

Murray Energy

June 2018 · US · Uptier · Litigation / Bankruptcy

A 2018 uptier gave participating lenders priority over non-consenting lenders. In the later chapter 11, the plan first proposed 68% recovery for superpriority lenders and nothing for the rest; litigation by the term loan agent led to a settlement.

Discussed in Liability Management Exercises: Law and Practice at ¶¶ 2.91, 2.157–2.158, 23.25–23.27, 23.82–23.85, 23.90–23.91, 23.149, 23.154.