Reinstatement: How Valuable Is Below-Market Secured Debt?
Perkins Coie's Steven M. Hedberg examines a story that he calls "as old as borrowers, lenders and the Bankruptcy Code, but with a new twist" -- the court-approved Charter Communications reorganization plan. While debtors historically have utilized bankruptcy to get a better deal, Charter utilized the process to hold onto what it had. Will the economic incentives that existed in Charter's case drive additional bankruptcy filings, or at least cause other companies to file sooner?
