Assisting the company in the partial restructuring of obligations to the Fed reserve, the firm's most important work was converting part of the loan to preferred equity, without affecting the priorities of creditors
Vertis double pre-pack merger with American Color Graphics
Originality
6
Rationale
7
Impact
6
Total
19
Description
Devised a dual reorganisation structure without precedent, combining a “pre-packed” debt-for-equity restructuring with a merger. The creditors received a higher rate of recovery and both the companies were effectively saved
Lehman Brothers: speeding up bankruptcy sales (“363sâ€)
Originality
6
Rationale
7
Impact
8
Total
21
Description
The firm accelerated cumbersome court procedures, enabling Lehman’s US investment banking business to be sold to Barclays before assets could depreciate. It set a new standard for “363s”, followed in GM and Chrysler sales
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