The UK Stapled Exchange Strategy for Restructuring U.S.-Listed Companies Gains Steam: Southern District of New York Bankruptcy Court Blesses Fossil Strategy and Provides Clarity in New Fortress Energy Chapter 15 Decision

Ronit Berkovich and Alexandra Langmo of Weil, Gotshal & Manges reveal how New Fortress Energy recently implemented a “UK stapled exchange” to restructure its debt in a much less costly and less disruptive manner than a Chapter 11, while also giving the US bankruptcy court the opportunity to issue an opinion discussing the analytical framework applicable to this situation for the first time.

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