Clare Cottle and Amy Kennedy Quoted on Creditor Cooperation Agreements Trend in Europe

Bloomberg Law and LevFin Insights have quoted special situations & private credit partners Clare Cottle and Amy Kennedy, respectively, on the increasing trend of creditor cooperation agreements, a common tool used in U.S. restructurings, migrating to Europe.

Both articles consider how creditor cooperation agreements are starting to enter the European market and how key differences in the U.S. and European legal landscapes could impact the importing tool.

“As is so often the case, trends from the US market do migrate to Europe and creditor cooperation agreements are no exception,” said Clare to Bloomberg Law. “They are increasingly part of the discussion.”

In LevFin Insights, Amy explained that creditor cooperation agreements are put in place for the purpose of “pre-empting a splinter within a creditor class, [in order to] prevent a mischief.” Amy continued “For co-ops to work there needs to be clarity around what the actual threat is to the creditors.”