Corporate Finance
When Sponsors Subordinate: The New Rules of Liability Management Exercises
Download PDF Introduction “You show me a hero, and I’ll write you a tragedy.” – The Big Short (2015) In a previously discussed article titled “When Creditors Collide: The Tug of War for Distressed Assets,” we examined the history, mechanics, and initial wave of creditor-on-creditor violence. LMEs (liability management exercises), Read more…