Tag Archives: Trust Indenture Act

Marblegate’s Lost Marbles and Why Bondholders and Indenture Trustees Should Care

This week the U.S. Court of Appeals for the Second Circuit issued its highly-anticipated ruling in Marblegate Asset Management, LLC v. Education Management Corp. (“Marblegate”).  At issue in Marblegate was whether Education Management Corp. (“EDMC”) violated the Trust Indenture Act when it implemented a restructuring that impaired the rights of Marblegate Asset Management, LLC (“MAM”).  … Continue Reading

Caesars’ Bankruptcy Plan: Already Under Attack?

Events are happening quickly these days with Caesars Entertainment.  On January 13, holders of second lien notes issued by Caesars Entertainment Operating Company (“CEOC”) filed an involuntary chapter 11 petition against CEOC in the U.S. Bankruptcy Court for the District of Delaware.  Two days later, CEOC itself filed a voluntary chapter 11 petition in the … Continue Reading