Numerous private equity-backed companies that have taken on excessive debt continue showing signs of distress. As these companies enter refinancing negotiations, some lenders are often sidelined, putting them at risk of significant losses.
Bloomberg cites Glenn Agre as a major ally to minority lenders seeking representation in liability management exercises (LMEs). “Another route for outsider creditors is to form minority groups to try to force their way into the picture during refinancing talks,” writes Reshmi Basu. “Law firm Glenn Agre Bergman & Fuentes is a regular port of call for those eager to fight back. A group it advised has muscled its way into the Tropicana talks.”
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