Restructuring Support Agreements: An In-Court Solution With Out-of-Court Benefits (Volume 38, Number 4–April 2022)
Author: Felicia Gerber Perlman.; Natalie Rowles.
Source: Volume 38, Number 04, April 2022 , pp.29-34(6)
Abstract:
Restructuring Support Agreements (“RSAs”) are pre- or post-petition agreements among key constituents that require their signatories to support a chapter 11 plan with certain agreed-to terms. The authors give an overview of such agreements, a historical perspective vis-à-vis the Chandler Act, and the benefits and criticisms regarding such agreements. They conclude that RSAs provide debtors with the typical benefits of chapter 11 while reducing the time and expense of traditional chapter 11 cases.Keywords: Regulation of RSAs; Plan Support Agreements; Disenfranchisement; Plan Acceptance or Rejection Disclosure and Solicitation
Affiliations:
1: McDermott Will & Emery LLP; 2: McDermott Will & Emery LLP.