Rights Offerings Prove Popular with Both Debtors, Distressed Investors
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Rights Offerings Prove Popular with Both Debtors, Distressed Investors
Billions Raised in Recent Offerings for Companies Exiting Bankruptcy
By Jay M. Goffman, Partner & George Howard, Counsel, Skadden, Arps, Slate, Meagher & Flom LLP
The past few years have brought a number of large rights offerings in bankruptcies in the energy, healthcare, and retail sectors. Between January 1, 2015, and December 1, 2017, more than $5.5 billion was raised through rights offerings or private placements in more than two dozen large...
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George Howard is a counsel in Skadden’s New York office, representing companies, banks, secured lenders, distressed debt investors, asset purchasers, and other significant constituencies in stressed and distressed situations, with an emphasis on out-of-court restructurings, Chapter 11 reorganizations, secured financing transactions, distressed M&A, and cross-border insolvency proceedings. Howard was selected as an emerging leader by the American Bankruptcy Institute’s 2019 40 Under 40 initiative and was named as an Outstanding Young Restructuring Lawyer in 2019 by Turnarounds & Workouts.
Jay M. Goffman is the global co-head of Skadden’s Corporate Restructuring Group. He has led transformational restructurings and transactions encompassing virtually all major worldwide industries. Mr. Goffman has repeatedly been selected as one of the leading restructuring lawyers in the world by numerous corporate restructuring and legal organizations, including Turnarounds & Workouts, Chambers USA, and Chambers Global, among others, and was named among “The Decade’s Most Influential Lawyers” by The National Law Journal in 2010.
