Restoring Some Certainty Post-Marblegate

Law360, New York (December 12, 2016, 1:40 PM EST) -- Miranda Schiller

Agustina Berro Since Marblegate was decided in 2014, the only court to address claims under §316(b) of the Trust Indenture Act in the context of a corporate restructuring transaction is Caesars. Caesars and Marblegate interpreted §316(b) broadly, finding that it protects not only the legal right to payment but also the practical ability to receive principal and interest where an out-of-court restructuring renders repayment a practical impossibility. Last week’s decision by the Southern District of New York in Cliffs Natural makes clear that the holdings in Marblegate and Caesars are limited to comprehensive restructurings that amount to de facto...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!