Clauses & Controversies
Clauses & Controversies
Mitu Gulati & Mark Weidemaier
Ep 150 - Getting "J. Screwed" Sounds Better than Getting "Argentina'd" (ft. Andrew Kissner)
47 minutes Posted Feb 2, 2025 at 12:00 am.
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Getting "J. Screwed" Sounds Better than Getting "Argentina'd"
In the world of corporate debt, everyone seems to be talking about "Liability Management Exercises," where a borrower, with a subset of creditors, exploits loose loan covenants in ways that leave other creditors screaming mad. Even better, these LME techniques have clever names: "trap doors," getting "J. Screwed," etc. And while the worlds of sovereign and corporate debt don't overlap all that much, we wonder if litigation over LMEs can tell us anything about sovereign debt restructurings. Alas, we don't know much about corporate debt. Thankfully, Andrew Kissner (Morrison Foerster) joins us to dispel our confusion.
Producer: Leanna Doty