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Debtwired!

Key takeaways from Aggregate Holdings' restructuring with DLA Piper

Apr 3, 2024
DLA Piper's restructuring expert, David Manson, discusses key lessons from Aggregate Holdings' restructuring plan, including court challenges, amended plans, COMI shift impact, and insights into future restructuring battles and market evolution.
29:25

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Restructuring plans should address court requirements to benefit subordinated creditors, aligning with guidance.
  • Efficient time management and fair processes are vital in complex court proceedings for successful restructuring plans.

Deep dives

Need for Amendments Post-Adler Judgment

Following the Adler judgment, the restructuring plan sought amendments to benefit subordinated creditors who were previously set to receive nothing. The plan's alteration aimed to align with court guidance, providing funds for tier two and junior creditors if the plan succeeded. These changes addressed the court's requirement for a compromise or arrangement, ensuring subordinated creditors were considered.

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