Hornblower Chapter 11, Rite Aid's ‘Toggle’ Plan, Supreme Court: Syndicated Loans Not 'Securities'

Reorg Radio

English - February 26, 2024 15:55 - 9 minutes - 12.8 MB - ★★★★★ - 32 ratings
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This week on The Reorg Primary View, Hornblower files chapter 11 with RSA providing for $300 million senior DIP, $285 million junior DIP and $345 million rights offering, U.S. Supreme Court declines to consider request from Millennium Health lender claim trustee to review August 2023 ruling from the U.S. Court of Appeals for the Second Circuit that syndicated loans qualify as securities under federal and state laws and Rite Aid debtors file an amended plan with “toggle” allowing a pivot to a sale transaction.

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