Print PDF Rescue, DIP and Exit Financing

We advise clients seeking to provide senior secured or junior lien loans to stressed and distressed borrowers, or debtor-in-possession financing to borrowers in bankruptcy.  We also guide clients through inter-creditor issues associated with senior and junior liens, as well as advising on the potential impact of a bankruptcy on our clients’ positions in the debtor’s capital structure.

Experience

Recent representations include the following:

• Private fund in its origination of a $75,000,000 senior secured loan to an eyeglass manufacturer with both U.S. and foreign subsidiaries;
• Agent and syndicating lender in the extension of $20,000,000 DIP financing to a leading provider of services to the U.S. oil and gas exploration and production industry;
• Lenders in the provision of $5,000,000 DIP financing to a satellite operator to facilitate a sale of the company’s assets in a section 363 sale;
• Private fund in originating $15,000,000 DIP financing to a power plant manufacturer; and
• Private fund in the provision of DIP financing to an automotive parts manufacturer.

Publications

• "The Secured Lender Review: Seven Cautionary Rules" by Keith Sambur
• "Secured Lender Review: Seven Cautionary Rules" by Keith Sambur published by Law360
• "Passive Investors Only -- Strategic Investors Need Not Apply: Dish Network Corp. v. DBSD N. AM., Inc." by Michael Friedman and Keith Sambur
• "Can Second Lien Lenders Be Heard In Connection With A 363 Sale? The Answer In Boston Generating Is A Resounding 'Yes.'" by Keith Sambur

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Presentations

• Neil Binder and Michael Friedman present “Analysis of Claims against BP arising from Gulf of Mexico Disaster" hosted by the Susquehanna Financial Group
• Michael Friedman and Larry Halperin participate in "Current Issues and Bankruptcy Decisions Impacting Lenders" webinar hosted by RK&O and CRT Capital Group
• Michael Friedman presents “Bankruptcy’s Next Wave: A Look at the Financial Crisis One Year Later” at the American Bankruptcy Institute Annual Winter Leadership Conference
• Michael Friedman presents "Bankruptcy’s New Wave – Preparing for the Perfect Storm: Which Sectors Will Take a Direct Hit?" at the American Bankruptcy Institute Annual Winter Leadership Conference

News & Announcements

• Jon Kibbe and Michael Friedman quoted in The Distressed Debt Report article "Attorneys Applaud Bankruptcy Rule 2019 Amendments"
• Michael Friedman quoted in the Bloomberg article "Bankruptcy Turnarounds Menaced by Investor Valuation Fights, Lifland Says"
• Michael Friedman quoted in The Daily Deal article "Equity's Turn: The Improving Economy Turns the Spotlight in Some Cases to Shareholders"