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Article Date: June 2017
Word Count: 130

Keep the Train Moving, Payless Secured Creditors Urge

The first lien term lenders, responding to the objections of the unsecured creditors about the disclosure documents, argue that the restructuring deal worked out in advance of the bankruptcy filing of Payless contains critical milestones, and deviating from the timetable could potentially result in the loss of DIP and exit financing conditioned on those milestones. They further say that these agreements, which protect the first ... Log in to view full article.


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