The U.S. oil and gas industry has continued to suffer substantial distress this year, with oil prices falling below $35 per barrel. Since late 2014, the industry has grappled with both severely depressed oil prices and burdensome debt levels. Global oil prices began trending lower in summer 2014 as...

Following high-profile decisions issued by the U.S. District Court for the Southern District of New York, the Trust Indenture Act of 1939 has been garnering significant attention in recent months. 1 In addition, amendments to the Trust Indenture Act were introduced that, if adopted, would have...

Buying bankruptcy trade claims can be attractive for distressed investors, while also providing an important and necessary potential source of liquidity to a wide range of creditors. Buying unsecured debt or “claims” against companies that are in bankruptcy, however, is risky no matter how an...