It’s Libby Cherry in Frankfurt and Giulia Morpurgo in London, where we looked at how a backlash against aggressive LMEs is ...

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While European leveraged finance debt prices are being pulled in different directions amid a volatile backdrop, a growing number of names appear simply to be stuck in an unforgiving doom loop. Several ...

There’s a new restructuring game gaining ground across Europe, and it’s turning up the heat between law firms and lenders. Liability Management Exercises (LMEs) are replacing traditional restructuring ...

Non-pro-rata liability management exercises (“LMEs”) have been a widely used tool for distressed companies and sponsors, sometimes to attempt to fix a company’s capital structure and sometimes to buy ...

Liability management exercises are likely to persist due to a continual demand for debt that empowers borrowers to negotiate for flexible terms. However, contentious deals involving firm clients as ...