Sentences with word «noteholder»

Participants in asset backed securities, whether it be the issuer itself, the originator in an RMBS transaction, the servicer in a CMBS, the manager of a CLO or a class of noteholder frequently find the process of implementing a waiver or an amendment to the transaction documentation to address an unexpected event such as those outlined above more challenging than expected.

Freshfields won the award for Banking, Finance or Restructuring Team of the Year, which was sponsored by Cantab Asset Management, for its work for noteholders on New World Resources» (NWR) $ 775m debt restructuring.

REUTERS - Sep 18 - FriendFinder Networks had struck a deal with noteholders that will reduce its debt by $ 300M.

The trustee's main — usually justifiable — concern in making a determination of «no material prejudice» is that it may be exposed to claims from affected noteholders that the relevant change was materially prejudicial to their interests for reasons that were not obvious at the time the trustee made such determination.

the restructuring of the liquidity facility and payment waterfalls to implement a settlement agreed between the senior noteholders and the liquidity facility provider

Furthermore, convertible noteholders usually can not take advantage of the long - term capital gains treatment available to stockholders until the time of the note's conversion.

Similarly, the note's valuation cap establishes a maximum value of the company at that future financing, which also potentially allows noteholders to convert their investment into equity at a more favorable price per share.

Ben has particular experience of noteholder litigation and litigation concerning banking and finance documents and financial instruments.

In terms of documentary complexity, a dispute in the Chancery Division between noteholders of a CMBS structure is hard to beat.

We represented a group of unsecured noteholders, who many alleged were completely out of the money with respect to their more than $ 5 billion of claims.

Paul, Weiss is representing an ad hoc committee of Gibson Brands, Inc. noteholders, including KKR, in connection with Gibson's chapter 11 proceedings.

Leading lawyer Sin Min Yoong, a practice co-head, and Hooi Huang Ng represented banks, including Maybank Investment Bank and DBS Bank, as noteholders of RM327 million worth of convertible notes.

Paul, Weiss is representing certain noteholders of Mood Media Corporation, including funds managed by affiliates of Apollo Global Management, LLC and funds advised or sub-advised by GSO Capital Partners LP or its affiliates, in...

While Crawford's plan ultimately received the approval of an overwhelming majority of noteholders, some investors accused his committee of muddling the process for ordinary people who had put their savings into the commercial paper.

Recode has reported that Spotify issued convertible notes to the investment firms TPG and Dragoneer that entitled the noteholders to more shares of the company the longer it remained private.

As a result of Shkreli's misconduct, the noteholders threatened to sue Retrophin for breach of the lock - up covenant.

(l) by causing Retrophin to violate the lock - up associated with Retrophin's Convertible Note Offering which caused the Company to deliver 401,047 shares of Retrophin stock to settle the noteholders» claims against Retrophin, which have a value of over $ 11.8 million (at current market prices).

On June 25, 2014, Retrophin's Board approved a settlement with the noteholders whereby Retrophin agreed to issue 401,047 restricted shares of Retrophin common stock to the investors in exchange for a release of any claims against Retrophin.

Convertible noteholders are often at the mercy of others, with little power to sway the outcome of their investments (at least until the conversion event).

Furthermore, if convertible notes are uncapped, the interests of the issuer and the noteholders are not aligned when it comes to this valuation, as issuers want the valuation to be as high as possible, while noteholders want the opposite.

More often than not, the valuation of a noteholder's investment will be determined by future investors who may negotiate a valuation with which the noteholder does not agree.

One group of noteholders will take ownership of the sex entertainment business.

«The agreement with the overwhelming majority of our noteholders will allow FriendFinder Networks to refinance our long - term debt, permit us to reinvest in our business, and position some of the strongest brands in the market for additional growth.»

PHEAA FRN Trusts View the quarterly servicing reports and statements to noteholders for the PHEAA FRN Trusts.

Homer City Generation LP, which operates an 1,884 - MW, coal - fired plant in Pennsylvania, announced Jan. 10 that it has reached a resolution with a substantial majority of its noteholders on a comprehensive financial restructuring plan.

The Bank argued that resolutions proposed and passed by the majority noteholders amounted to a fraud against the minority noteholders.

The special servicer ultimately enforced the security over the borrowers and proceeded to sell the underlying property assets over a period of time crystallising a significant capital losses for the issuer and noteholders.

The senior noteholders were able to implement this series of complex and commercially significant amendments primarily on the basis that the relevant amendments only affected their interests and not those of the junior noteholders.

Assenagon Asset Management SA v IBRC Ltd [2012] EWHC 2090 (Ch) Instructed on behalf of a noteholder seeking to challenge the validity of a substantial debt restructuring carried out by Anglo - Irish Bank (with Richard Snowden QC).

In order to implement a change without the approval of all other classes of noteholder, transaction parties or a specific class of noteholders often seek to demonstrate that the «no material prejudice» or «manifest» exceptions apply.

Enid Investors Corporation v IBRC Ltd (2012) Instructed on behalf of a noteholder seeking to challenge the validity of a substantial debt restructuring carried out by Anglo - Irish Bank.

These conditions typically require that any significant change must be directed by an extraordinary resolution of the most senior class, or possibly all classes of noteholder.

There is usually an exemption to the requirement to obtain a direction from noteholders where the trustee is of the opinion that the relevant waiver, modification or amendment is (i) proper to make and not materially prejudicial to the interests of the relevant noteholders, (ii) to correct a manifest and proven error or (iii) formal, minor or technical.

it can be clearly demonstrated that the proposed amendment either (i) does not affect any class of noteholder or (ii) only affects the class of noteholders that have directed the relevant amendment

In so holding, the 5th Circuit holds that a breach of the payment requirement is legally different from a notice requirement in the deed of trust, which can independently give rise to a claim by the borrower and guarantor against a lender / noteholder.

A dispute between the trustee of a securitized portfolio of receivables and a noteholder regarding responsibility for losses on the portfolio

Acting for a noteholder seeking to challenge the validity of a substantial debt restructuring carried out by Anglo - Irish Bank.

The Bank argued that resolutions proposed and passed by the majority noteholders affecting rights in the notes amounted to a fraud against the minority noteholders

Our representation of the noteholders in bankruptcy court litigation led to a confirmed plan under which our clients received (i) the opportunity to buy Energy Future Holdings» regulated utility Oncor and convert its parent into a real estate investment trust (REIT), and (ii) a down - side recovery, along with other unsecured creditors, of US$ 550 million in the event the transaction did not close.

Advising Citicorp as Representative of the Noteholder in connection with the restructuring of various Italian structured finance transactions

Lou has a diverse and sophisticated national practice with an emphasis on representing major parties, including banks, insurance companies, hedge funds and other large institutional lenders, noteholders and bondholders, in complex commercial restructurings and reorganizations throughout the country.

The dispute with Gula Perak, the issuer, was about whether the trust deed required a certain percentage of noteholders to vote for a specific action, such as when to move for recovery action.

acting in English High Court proceedings to determine the Noteholder's rights to terminate credit default swaps following a rating downgrade of the swap counterparty.