This definitive and eagerly awaited new book is the first of its kind to provide an in-depth analysis of debt trading for traders, lawyers and financial advisors. The book discusses international distressed debt trading and the developing standards of practice and documentation which accompany the different trading platforms worldwide. The insolvency issue which underlies this trading is examined, with particular regard to the US and UK markets, but also giving a global perspective. Distressed Debt Trading is the only publication to include commentary on the LSTA documentation introduced in May 2000. Divided into four detailed sections, and featuring replica documentation forms from the trading associations, this comprehensive book discusses topics including: bid pricing letters, timing of trade confidentiality agreements, assignment agreements, due diligence, transfer documentation, and the negotiation of terms; annotated documents used in trade by members of the Loans Syndication and Trading Association; the legal issues of trading including US bankruptcy claims and participation agreements, and UK law on bankruptcy, insolvency and restructuring procedures and loan syndication and participations; and alternative dispute resolution and international bankruptcy developments. This is an up-to-date, invaluable and practical analysis that will provide readers with an in-depth knowledge and understanding of distressed debt trading.
