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High yield bonds have become increasingly attractive to sponsors in financings and, most importantly, refinancings. Sustained liquidity and growing investor demand, coupled with the reduced availability of new M&A credits, has driven the inclusion of flexible...

The first set of final Export Control Reform rules should have caught no one by surprise given the steady drumbeat since 2009 announcing the US government's intent to rethink its entire approach to protecting sensitive US technology. These new rules, published...

NEW YORK (May 1, 2013) — Leading international law firm Clifford Chance today announced that Emily DiStefano has joined the firm as an Asset Finance partner in New York, further bolstering one of the world's leading aviation finance practices. DiStefano is highly...

The decision of the United States Court of Appeals for Second Circuit in Dish Network Corp. v. DBSD North America, Inc. (In re DBSD North America, Inc.) ("DBSD") put those who trade in distressed debt on notice that courts may scrutinize claims...

Since the onset of the financial crisis there has been a dearth of CLO issuance in Europe, while on the other side of the Atlantic the market has rebounded healthily. Now, at long last, green shoots are beginning to emerge in a European thaw. In this article...

On February 7, 2013, the U.S. Department of Labor ("DOL") issued Advisory Opinion 2013-01A (the "Advisory Opinion"), which clarified the application of the fiduciary responsibility and prohibited transaction provisions of the U.S. Employee...

More than a year after the appointment of special administrators in relation to the UK broker MF Global UK Limited, clients with client money claims held on trust at the firm were still unclear as to how much they were entitled to receive. The delay was a result...

Holdout creditors who refused to take part in Argentina's two debt restructurings have won a major victory in the New York courts by relying on a pari passu clause, overturning the conventional wisdom as to the meaning of this clause. The courts decided that...

On July 2, 2012, the Santa Ysabel Resort and Casino, owned and operated by the Iipay Nation of Santa Ysabel on its reservation land in Santa Ysabel, California, filed for protection under Chapter 11 of the US Bankruptcy Code. This case highlights unresolved issues...

The U.S. Third Circuit Court of Appeals' K-Dur decision, addressing what standard should be applied by the courts in evaluating whether certain settlements of patent lawsuits between generic and patent-holding manufacturers are legal under the antitrust...