Welcome to the March edition of In the Know, Baker McKenzie's Leveraged Finance newsletter that takes a look at global market trends in various jurisdictions and areas of law relating to leveraged finance and high yield.

This article discusses considerations for credit funds that face a restructuring situation in the post-COVID-19 world - whether one largely caused by the challenges posed by the pandemic or one simply accelerated by such challenges - and how workouts of these investments present their own challenges.

Key highlights include:

  • Understanding cash flows
  • Confidentiality in private markets
  • Evaluating the problem
  • Planning ahead
  • Local knowledge
  • Identifying plan B and any structural or documentary issues
  • Intercreditor dynamics
  • Plan A vs. plan B

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