Practice

Liability Management Exercises

Liability Management Exercises for Pragmatic Out-of-Court Solutions

Liability management exercises help companies restructure debt, reduce interest expense, defer maturities and raise new liquidity. 


Sheppard advises issuers, sponsors, investors and capital providers when traditional financings or court-supervised restructurings are impractical or ineffective.

Precision Strategies That Deliver Lasting Value

When companies face a complex financial situation, Sheppard delivers customized LMEs built on market-tested creativity and deep industry judgment to achieve durable, pragmatic results.

Drawing on deep industry, financial and commercially focused experience, our Liability Management Team has developed and implemented numerous LMEs to deliver outcomes, often with greater efficiency and value preservation than a full-blown bankruptcy process. These exercises often involve extending maturities, obtaining covenant and default relief, raising additional financing, recapitalizing distressed companies and debt and “surgical” asset sales. Our focus is on practical execution that maximizes value, mitigates downside risk and minimizes uncertainty and expense to stakeholders.

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