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Sabrina Fox
Founder of Fox Legal Training and former head of the European Leverage Finance Association. Specializes in covenant analysis and educating LevFin market participants on legal and covenant risks.
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Jul 31, 2025
• 44min
Junk Companies Are in Debt Covenant 'La La Land,' Says Fox Legal
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Sabrina Fox, founder of Fox Legal Training and former head of the European Leverage Finance Association, shares her insights on rising debt documentation risks in a cash-chasing market. She highlights how current provisions often create a misleading reality, akin to 'La La Land.' The discussion dives into the lack of transparency in high-yield debt, key lessons from the Altice restructuring, and the aggressive spread of liability management from the US to Europe. Fox emphasizes the need for training in legal analysis to better navigate these complexities.
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