Podcast

Liability management exercises in the spotlight—new podcast series

Liability management exercises in the spotlight—new podcast series
Published Date
Oct 30, 2026

The A&O Shearman Restructuring team’s new three-part podcast series explores some of the latest themes and trends in the liability management exercise (LME) market.

In this first episode our host, counsel Tayyibah Arif (London), is joined by partners Tim Watson (London) and Rishi Hindocha (Singapore) and counsel Simon Aarts (Netherlands) to cover:

  • recent European LME drivers and trends, including how English-law governed intercreditor agreement drag/distressed disposal provisions are being deployed to deliver non-pro rata outcomes in LMEs
  • the use of such drag/distressed disposal mechanics to effect the 2025 Selecta uptiering transaction
  • the Netherlands as an increasing common forum in connection with LMEs, including in respect of enforcements designed to give effect to a particular transaction
  • the main routes and strategies minority creditors are using to challenge LME transactions, and updates from ongoing multi-jurisdictional LME litigation actions such as Selecta and Hunkemöller
  • how potential litigation is being factored into LME options and contingency planning.

 

Listen to the first episode below.

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