Adam L. Shiff and Shai Schmidt Co-Author “Momentive Disrupts Intercreditor Agreements and Reorgs”
Kasowitz Benson Torres partner Adam L. Shiff and associate Shai Schmidt have co-authored “Momentive Disrupts Intercreditor Agreements and Reorgs,” published in Law360. In the article, the authors discuss the recent district court opinion in In re MPM Silicones LLC (Momentive) and the effects it may have on future intercreditor agreements. The article also explores how Momentive could affect reorganizations generally, including by incentivizing senior creditors to resist debt-for-equity swaps and push for a sale of a debtor’s assets.
Adam L. Shiff, partner at Kasowitz Benson Torres, focuses his practice on all aspects of bankruptcy and restructuring, including representing debtors, formal and informal committees of creditors and equity securities holders, trustees, investors and purchasers of distressed businesses. Over the past 25 years, he has represented major parties in interest in high-profile U.S. restructuring and bankruptcy proceedings such as LightSquared, Caesars Entertainment, Adelphia, Eastman Kodak, Borders, Capmark Financial, WorldCom, Residential Capital, Linens ‘n Things, Marvel Entertainment, and Trump Entertainment Resorts.