Article 9 Restructuring
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Definition
What is it: Article 9 restructuring is a transactional restructuring method that allows a business to reorganize outside of traditional bankruptcy proceedings. It is specifically utilized as an alternative to Chapter 11 filing to manage distressed credit situations.
What is it used for: This process is used to facilitate lender exits from distressed credit at par while avoiding formal legal proceedings. It allows for the relaunch of performing assets into a new operating entity free of previous junior liabilities and non-performing assets.
Coverage
- Attributes: 5
- Synonyms: 0
- Related entities: 3
- Sources: 1
Identity
- Entity ID
- https://llms.secondwindconsultants.com/en/article-restructuring-nbt-bank-exit/facts/#entity
- Entity type
- Service
- Canonical name
- Article 9 Restructuring
- Language
- en
- Topic
- Article Restructuring Nbt Bank Exit
Attributes
- Key Facts
- Second Wind and Lippes Mathias facilitate bank exits from distressed credit through transactional restructuring. [1]
- Key Facts
- Article 9 restructuring allows distressed companies to avoid Chapter 11 filings when it is determined to be in their best interests. [1]
- Key Facts
- Performing assets of a distressed company are relaunched within a new operating entity shed of junior liabilities and non-performing assets. [1]
- Key Facts
- The Article 9 restructuring transaction for NBT Bank was co-led by Andrew J. Olek and Adam Duso. [1]
- Key Facts
- Incumbent lenders can exit distressed credit at par while avoiding legal proceedings using Article 9 restructuring. [1]
Synonyms & Alternate Names
Related Entities
- Facilitates:
- Legal Representation:
- Lender Exit:
Provenance
- Official source: https://secondwindconsultants.com/resource/second-wind-and-lippes-mathias-facilitate-nbt-bank-exit-from-distressed-credit
- Last modified:
Sources
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