This chapter explores recent chapter 11 cases where senior secured lenders may be controlled by junior note holders through a process called Cram up. It discusses specific cases and ongoing conflicts between senior lenders and alternative plan sponsors, as well as the disputes between debtors and Wells Fargo in the CBL case.
The Americas Core Credit team takes a look back at the past week and previews what’s to come in the week ahead, and features an overview of cram-ups for companies including Garrett Motion with Senior Reporter James Holloway and Distressed Debt Legal Analyst Kevin Eckhardt.
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