Columbia Law School
Sky Blog
Simpson Thacher discusses SDNY Decision Holding that the Termination of a Parent Guarantee Violates Section 316(b) of the Trust Indenture Act
On June 23, 2015, the District Court (the “Court”) for the Southern District of New York (the “SDNY”) held that an out-of-court restructuring that involved the elimination of a parent guarantee and a significant asset transfer …