Glenn Agre managing partner Andrew Glenn participated in a “Notice of Appearance” interview with Petition, a Substack that provides bankruptcy and restructuring news and analysis. Andrew highlighted his significant bankruptcy cases, the future of LME deals, standout restructuring trends and cases in 2024, and his predictions for 2025.
Andrew explained that the recent wave of LMEs differs significantly from earlier deals like Serta, Boardriders, and TriMark: “In those cases, a majority group participated in the deal while minority lenders were entirely excluded. Now, companies are attempting to involve all lenders by structuring LMEs in phases: the initial transaction involves the majority group, while the minority group is later invited to participate—typically on less favorable terms.”
Commenting on why he prefers to represent “the underdog,” Andrew noted, “I love the fight. Any lawyer or financial advisor can represent an over secured senior creditor and get them paid in full. Great lawyers and financial advisors are those who can produce a premium recovery when their clients are at risk. I enjoy the challenge of proving valuation and litigation theories to produce premium recoveries.”
Read the full Q&A here.