Liability-Management Exercises (LMEs)

As companies seek to proactively manage debt loads and avoid formal insolvency proceedings, liability-management exercises (LMEs) have become an increasingly popular, yet controversial, tool. This panel explores the structure, strategy and legal implications of LMEs, including uptiering transactions, drop-down deals and other nontraditional restructurings. The panelists discuss recent high-profile cases, lender and borrower perspectives, and the evolving litigation landscape surrounding these transactions. Attendees gain a better understanding of how LMEs are reshaping the dynamics of distressed debt and chapter 11 planning.