The use of liability management transactions in the wake of the financial crisis, along with two important court cases (i.e., Marblegate and Caesars Entertainment Corp.), has brought a renewed focus on the obligations of trustees and the rights of bondholders under the Trust Indenture Act of 1939.

See our FAQs on the Trust Indenture Act of 1939 available at:

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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