This chapter discusses the confirmation process for the Commonwealth Plan of Adjustment, amendments to the Title III exit legislation, involvement of Judge Laura Taylor-Swayin, denial of administrative claim by the DRA parties, and highlights top news stories of the week.
On this week’s podcast our Americas Core Credit team replays our Covenants 101 webinar from earlier in the year discussing sources of potential value leakage. Topics include an overview on value leakage, including dividends, transfers to nonguarantor restricted subsidiaries and transfers to unrestricted subsidiaries, discussions on previous transactions done by PetSmart, J.Crew, Claire’s and Neiman and demonstrating how to calculate value leakage in debt documents.
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