Client Alert
In an earlier Client Alert, Chapman noted that in light of the decisions in Education Management Corp. and Caesars Entertainment Corp., two recent cases interpreting the Trust Indenture Act of 1939, as amended, minority holders may be more emboldened to challenge exchange offers. This month, reflecting those predictions, retail bondholders filed two class action suits in the United States District Court for the Southern District of New York challenging exchange offers under the Trust Indenture Act.
