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Unitrache Credit Facilities, Agreements Among Lenders, and Related Bankruptcy Considerations


Level: Advanced
Runtime: 87 minutes
Recorded Date: July 28, 2017
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Agenda

11:00 am - 12:30 pm
  • Overview and Comparisons to Other Structures
  • Brief History
  • Recent Trends
  • Players
  • Advantages/Disadvantages
  • Agreement Among Lenders
  • Key Terms
  • Workout and Bankruptcy Issues
  • Recent Intercreditor Litigation
Runtime: 1 hour and 27 minutes
Recorded: July 28, 2017

Description

This panel will discuss the rise of unitranche credit facilities, the differences between unitranche credit facilities and more traditional debt structures, and the appeal of a unitranche structure to borrowers, sponsors and lenders. The panel will also discuss bankruptcy-related considerations when negotiating an Agreement Among Lenders (the intercreditor agreement governing the respective rights of lenders in a unitranche credit facility), as well as recent intercreditor litigation.

This program was recorded on July 28th, 2017.

Provided By

American Bankruptcy Institute
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Panelists

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Scott P. Vaughn

Partner
McGuireWoods LLP

Scott primarily represents financial institutions in corporate restructuring, refinancing and all phases of bankruptcy proceedings. He has lectured on bankruptcy law and creditors rights issues for the North Carolina Bar Association, the Mecklenburg County Bar, and numerous banking and finance trade groups. He is former managing partner of the firm's Charlotte office.

Scott received his JD, with honors at the University of North Carolina School of Law in 1986.

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Joseph Rodgers

Managing Director
Monroe Capital LLC

Joseph Rodgers is a managing director and Southeast Region Group Head at Monroe Capital LLC in Atlanta, where he focuses on credit solutions for lower-middle-market companies.

Previously, he was a managing director and group head of Capital Advisory at KPMG Corporate Finance LLC and a managing director at Cerberus Capital Management, L.P., as well as a director at Cratos Capital and a senior vice president with CIT/Business Capital. Mr. Rodgers has 23 years of experience in various corporate finance roles spanning across investment banking, consulting and lending.

He received his B.S. in finance from the University of Florida.

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Luis M. Lluberas

Member
Moore & Van Allen, PLLC

Luis Lluberas is a Member in the Bankruptcy & Financial Restructuring practice group of Moore & Van Allen, PLLC, resident in its Charlotte office. His practice encompasses a broad range of financial services matters, with a focus on the resolution of troubled credits.

Mr. Lluberas has extensive experience representing key stakeholders in connection with all aspects of financial restructuring matters in a myriad of industries, including commercial real estate, energy, healthcare, manufacturing, retail, technology, and transportation. He routinely represents financial institutions, in both lender and agent capacities, in syndicated credit facilities and other secured lending transactions. He has also represented strategic investors, receivers, and corporate debtors. His out-of-court experience includes creditor compositions, lender workouts, debt-to-equity swaps, and secured party sales. His in-court experience includes large corporate chapter 11 bankruptcy proceedings, the acquisition of assets out of bankruptcy proceedings, receiverships, and real and personal property foreclosure actions.

In addition, Mr. Lluberas has considerable experience representing: financial institutions in connection with the negotiation and preparation of intercreditor agreements, including for unitranche facilities; creditors in the defense of preference and fraudulent transfer causes of action; and investors in connection with the acquisition, disposition and development of commercial real estate.

In 2015, Mr. Lluberas was a recipient of the Turnaround Management Association’s Turnaround of the Year: Small Company award for his work as legal counsel to the receiver in the Bost Distributing Co. matter, where he played an important role in forging a compromise among the key stakeholders. Each year since 2014, his colleagues in the legal profession have recognized Mr. Lluberas as a Rising Star in business bankruptcy as published by North Carolina Super Lawyers magazine.

Mr. Lluberas is a member of the firm’s Diversity Committee, and is the Chair of the firm’s Lawyers of Color affinity group. He is fluent in Spanish.


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