Benesch Partner Seth Kleinman Quoted in Law360 on Declining First‑Lien Creditor Recoveries

Benesch Partner Seth Kleinman, vice chair of the firm’s Restructuring & Bankruptcy Group, was quoted in the Law360 article, “Debt Deals Drop Ch. 11 Recoveries To 10‑Year Low, Fitch Says.” The article examines historically low recoveries for first‑lien creditors in bankruptcies following liability management exercises. Kleinman explained that these cases often involve the most distressed companies, noting, “It’s a bit of a selection bias when you’re dealing with the LME cases because those are some of the more difficult and challenging ones for lenders. It’s necessarily a very challenging deal.”

More: Debt Deals Drop Ch. 11 Recoveries To 10-Year Low, Fitch Says – Law360 Bankruptcy Authority