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Secured Lender Review: 7 Cautionary Rules — Part I

Law360 (April 4, 2011, 1:41 PM EDT) -- Over the past several years, many companies have experienced difficulty in emerging from Chapter 11 as reorganized entities. This phenomena stands out in the current distressed marketplace. Although there are multiple causes for the resulting decline in true Chapter 11 reorganizations, a number of controversial decisions issued by prominent courts have changed the restructuring landscape for all constituents, but most acutely for secured lenders. Based on these decisions, we have formulated seven practical and cautionary rules for secured lenders to consider as they navigate the changed...
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