Second-Lien Financings in Bankruptcy: Expectations v. Reality | Practical Law

Second-Lien Financings in Bankruptcy: Expectations v. Reality | Practical Law

This Article explores key assumptions underlying the second-lien market, the rights of secured creditors and the extent to which the claims of second-lien lenders are actually secured, the concept of lien subordination, rights typically waived by second-lien lenders in intercreditor agreements, and the enforceability of these waivers.

Second-Lien Financings in Bankruptcy: Expectations v. Reality

Practical Law Article 2-380-9187 (Approx. 26 pages)

Second-Lien Financings in Bankruptcy: Expectations v. Reality

by My Chi To, Debevoise & Plimpton LLP, based on an article first published in The Review of Banking and Financial Services, Volume 23, Nos. 8-9 (August-September 2007).
Published on 11 Jun 2008 • USA (National/Federal)
This Article explores key assumptions underlying the second-lien market, the rights of secured creditors and the extent to which the claims of second-lien lenders are actually secured, the concept of lien subordination, rights typically waived by second-lien lenders in intercreditor agreements, and the enforceability of these waivers.