PODCAST: Shearman & Sterling roundtable returns to tackle Second Circuit Marblegate ruling

31 January 2017

by Richard M. Goldman


Shearman & Sterling Financial Restructuring & Insolvency Group practice leader Fred Sosnick and Capital Markets partner Harald Halbhuber, along with Debtwire North America’s own Head Legal Analyst Jack M. Tracy, II, last week joined legal analyst Richard Goldman for a riveting roundtable on the Second Circuit’s recent decision in Education Management’s ongoing Trust Indenture Act (TIA) section 316(b) dispute with Marblegate Asset Management.  During the discussion, Fred and Harald—both of whom appeared on a previous Debtwire Podcast to discuss TIA section 316(b) issues—revisit the events that led to the parties’ dispute, break down and analyze the Second Circuit’s majority decision and the panel’s strongly-worded dissent, and opine on where the case, as well as distressed bond markets, go from here.