Handbook on Second Lien Loans & Intercreditor Agreements

by Mark N. Berman, Jo Ann J. Brighton

Overview

Second lien financing has become more prevalent in recent years. This handbook, written by Mark N. Berman and Jo Ann J. Brighton, describes the typical second lien financing, and distinguishes the features of a second lien financing from alternatives such as mezzanine financing. It examines the development of the second lien financing market over the last decade as influenced by the economic forces at play. The handbook also zeroes in on intercreditor agreements used in second lien financings by providing examples of sample clauses, followed by an analysis of the legal issues presented when parties contemplate the enforceability of those clauses in the context of a borrower bankruptcy proceeding. Reorganization professionals will find this handbook invaluable in providing the best representation to their clients, both debtor and lender.

Product Details

BN ID:	2940014178211
Publisher:	American Bankruptcy Institute
Publication date:	03/30/2012
Sold by:	Barnes & Noble
Format:	eBook
Pages:	116
File size:	610 KB

About the Author

Mark N. Berman is a partner with Nixon Peabody LLP in Boston. For more than 30 years, Mr. Berman has been representing virtually every kind of interest that might be involved with a financially troubled business or individual. He is an active member of the Boston Bar Association, for which he served as chairman of its Business Law Section from 1995-97 and Bankruptcy Law Committee from 1990-92. He also was a member of its Legislation Committee from 1999 to 2000 and is currently a member of its Bankruptcy Law Section’s Steering Committee. Mr. Berman is also a member of the American Bar Association, the Massachusetts Bar Foundation, the Loan Syndication and Trading Association and the Turnaround Management Association. He is a Fellow of the American Bar Foundation and was co-chair of ABI’s Northeast Bankruptcy Conference from 2003-05.

Jo Ann J. Brighton is Office Counsel at K&L Gates LLP in Charlotte, N.C., where she is a member of its Financial Services Department’s Financial Restructuring Group and practices primarily in the areas of bankruptcy, workouts and secured lending. She was inducted as a Fellow in the American College of Bankruptcy in March 2008, is certified in Business Bankruptcy Law by the American Board of Certification and is a frequent author and lecturer on bankruptcy-related topics. Ms. Brighton also sits on ABI’s Board of Directors, is past co-chair of its Business Reorganization Committee and serves on the Advisory Board for the ABI Law Review.