Client Alert December 22, 2022
Defensive and Counter-Offensive Strategies for High-Yield Debt Issuers and Private Borrowers
- Tightening global credit conditions will put more corporate high-yield debt issuers and private borrowers from emerging markets at risk of default.
- This can spiral into complex cross-border disputes with creditors, threatening the company’s survival.
- Fortunately, there are creative and aggressive strategies available for debtors to limit their exposure and protect their bottom lines.
Client Alert March 28, 2022
Maximizing Recovery Against a Sanctioned Sovereign
- Prices of Russian and other sovereign debt are falling as their economies buckle, presenting both opportunities and challenges for investors.
- Enforcing the debt against sovereign entities is already difficult, more so when sanctions are involved.
- As our Claim Monetization & Dilution team explains, non-traditional strategies may go further in putting maximum pressure on sovereigns and maximizing returns.
Client Alert January 26, 2022
Looking to Enforce a PRC “Keepwell Agreement”? Look Outside the PRC
- Mainland China is undergoing a wave of credit defaults, and creditors should use every tool available to maximize recovery.
- Keepwell agreements, a promise by a PRC onshore parent company to maintain an offshore debt issuer’s solvency, is one option for overseas enforcement.
- Creditors can use them to launch a multijurisdictional recovery campaign to drive up pressure on the debtor and reach a near-term settlement.
Client Alert September 8, 2021
Maximizing Returns on Distressed Assets: China’s Real Estate Industry
- Offshore bondholders of distressed Chinese real estate companies often lack leverage in restructuring negotiations, with those companies’ assets located mostly in China.
- China Evergrande Group is just one of the many Chinese real estate companies teetering on default, with wide-ranging consequences.
- However, by taking deploying creative strategies and taking positions against competing stakeholders, activist bondholders can carve out a direct path to monetization.
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