Consultants

Defaulted Securities: The Guide for Trustees and Bondholders

Chapman and Cutler LLP
March 2018

Chapman and Cutler's book, "Defaulted Securities: The Guide for Trustees and Bondholders," advances understanding and consideration of issues related to trustees and bondholders in corporate and municipal financings. This comprehensive guide begins with a review and analysis of the basics of transaction documents and their provisions and terms. From this background flows the role of the trustees and holders, checklists and consideration of conflicts, forms of communication, rights, remedies, workouts, settlements, amendments, bankruptcy and litigation strategies, and use of trust instruction proceedings and court approval, as well as holders’ direction as effective means of resolving defaulted securities. Traditional bonds, notes, debentures with and without collateral, subordination, and exchange offers, along with more recent products of asset-backed securitizations, derivatives, and other more esoteric structures, are reviewed and analyzed as to the developed case law and experience.

The book is a significant update of the treatise first published by Jim Spiotto for the American Bankers Association in 1990 (no longer in print) and is unique in its scope and detail.

If you would like further information, please contact Jim Spiotto or the Chapman and Cutler attorney with whom you regularly work. To purchase the book, please visit Amazon.com.