The Enforceability of a Make-Whole Provision in Bankruptcy: It Says What It Says
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The Enforceability of a Make-Whole Provision in Bankruptcy: It Says What It Says
By Bradford J. Sandler, Partner & Jonathan Kim, Counsel, Pachulski Stang Ziehl & Jones LLP
For more than a decade, make-whole premiums, also referred to at times as prepayment premiums, prepayment fees, yield maintenance premiums, or similar terms, have been a common feature in bond indentures and credit agreements. The basic purpose of a make-whole premium is to compensate the...
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Jonathan Kim of Pachulski Stang Ziehl & Jones LLP represents debtors, creditors, committees, and trustees on a wide range of issues in Chapter 11 cases, bankruptcy litigation, and federal court appeals. He has substantial experience in plan, corporate/transactional, and litigation matters. He is a graduate of Duke University, received his law degree from Harvard University, and is a member of the Financial Lawyers Conference.
Bradford J. Sandler is a partner, management committee member, and co-chair of the Committee Practice of Pachulski Stang Ziehl & Jones, and resides in the firm's New York City and Wilmington offices. He represents debtors, creditors' committees, acquirers, and other significant parties in interest in complex reorganizations and financially distressed situations, both in and out of court, throughout the United States. He is listed in the international legal ranking guide Chambers and in U.S. News & World Report's "Best Lawyers" in bankruptcy and creditor-debtor rights, and is ranked by The Deal among the top U.S. bankruptcy attorneys. He can be contacted at bsandler@pszjlaw.com or 215-266-8904.
