Extracting value from leveraged businesses—the case of McLaren and its bondholders

Table of contents

• Introduction
• Existing financial arrangements
• The dispute
• The outcome
• Lessons from the US
• J.Crew
• Neiman Marcus
• PetSmart/Chewy
• Specific transaction blockers and related issues
• Conclusion

Article summary

Restructuring and Insolvency analysis: This article looks at the novel form of restructuring used for the McLaren Group which borrows some US restructuring techniques. Written by Lee Federman, Kay V Morley, Ewen J Scott, Alexander A Gendzier, Lewis H Grimm and Michael C Schneidereit of Jones Day.