What’s in Your Intercreditor Agreement? For First Lien Lenders, the Devil’s in the Details
For many years, bankruptcy courts failed to enforce intercreditor agreements because the parties involved were not in bankruptcy. Courts today are enforcing these agreements strictly according to their text. Failure to note the precise wording of an intercreditor agreement can trip up a first lien lender and give the second lien lender the upper hand during bankruptcy proceedings.
September 16, 2016
bankruptcy | David W. Morse | Intercreditor Agreement | Otterbourg
ABF Journal