2025 Restructuring Discussion: Liability Management Exercises​

Navigate the Evolving Landscape of Liability Management

In the past 15 years, the credit market has undergone profound changes—shaped by sponsor- and CLO-driven dynamics, shifting credit agreements, and a surge in liability management transactions. Join experts, Dan Kamensky and Ian Feng, for an in-depth session exploring the latest trends, case studies, and market responses in liability management exercises.

Continuing Legal Education (CLE) credit is available for webinar attendees. 

Gain valuable insights from our experts on the following topics:

• Historical Trends in Credit Markets: Explore how the evolution of the loan market, with increasing sponsor and CLO dominance, has fueled the rise in distressed exchanges and exclusive opportunism.
• Sponsor-Driven Credit Terms: Understand how sponsor influence has driven changes in credit agreements—covenant-lite structures, information democratization, and aggressive new provisions.
• Distressed Exchanges & Exclusive Opportunism: Analyze landmark transactions (e.g., Serta, Mitel) and the explosive growth of creditor-on-creditor tactics.
• Creditor Pushback & Market Protections: Review recent legal decisions (Serta, Mitel) and the market’s response with innovative “blocker” provisions (J.Crew, Chewy, Envision, Double-dip, Incora, Omnibus).
• What’s Next? Discuss where the market is headed, and how new debt documentation is adapting in a post-Serta world.

Don’t miss this opportunity to gain valuable, actionable insights into the fast-changing landscape of liability management. Whether you are a lender, borrower, legal professional, or market watcher, this session will equip you to navigate complex restructurings and understand the latest market conventions. Engage directly with our facilitators during a live Q&A session.