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Jane’s LME Addiction — Dan Kamensky will Fight for Your Right(s)
Apr 10, 2025
Dan Kamensky, founder of the Creditor Rights Coalition and NYU professor, dives into the intricacies of creditor rights in liability management. He emphasizes the need for fair treatment among creditors and discusses the perils of overreach in financial agreements. The conversation highlights the crucial role of no action clauses and their impact on minority lenders. Kamensky also sheds light on the evolution of market norms and the balance of power in restructuring, advocating for transparency and stability in financial markets.
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Quick takeaways
- The Creditor Rights Coalition promotes advocacy and transparency among creditors, ensuring fair treatment during financial restructuring and bankruptcy processes.
- Recent trends indicate a shift toward more equitable outcomes for creditors, driven by increased access to information and a collective resistance against unequal treatment provisions.
Deep dives
Creditor Rights Coalition and Its Mission
The Creditor Rights Coalition, founded in 2021, aims to advocate for creditor rights and strengthen engagement within the buy side of the financial industry. This initiative arose from a collective desire to unify advocacy efforts that were often fragmented within the buy-side community. The coalition focuses on ensuring fairness and transparency in financial transactions, particularly in the context of bankruptcy and restructuring, while also providing educational opportunities for its members and students. An example of their impact is seen in their response to the CERTA case, where they effectively supported a legal interpretation that respected creditor rights.
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