Proskauer’s Global Co-Chair of Restructuring, David Hillman, joins Debtwire reporter Ayse Kelce to discuss the recent ConvergeOne ruling where excluded lenders secured a victory in the US District Court for the Southern District of Texas.
In this episode, Hillman, who represented the minority lender group, breaks down how the bankruptcy plan was overturned due to an exclusive backstopping opportunity granted to majority lenders—ultimately violating the equal treatment requirement.
Hillman shares his perspective on what this decision could mean for the future of liability management exercises, restructuring support agreements and creditor negotiations.
