2nd-Lien Lenders Get Louder

Law360, New York (December 15, 2010, 2:44 PM ET) -- Years ago, second lien lenders adhered to the old saying about children — they were seen but not heard. As our children have grown more vocal in recent years, so too have second-lien lenders. A spate of recent bankruptcy cases demonstrate that second-lien lenders have been both seen and heard at many critical junctures in the Chapter 11 timeline — at the sale of the debtor’s assets under Section 363 of the Bankruptcy Code,[1] in seeking the appointment of an examiner,[2] when voting on a Chapter...
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