This Emerging Issues video is the second in a series about risk management in the current economic environment. In it, Tom Howley, partner in the Firm's Business Restructuring & Reorganization Practice, discusses the many unique elements to an oil and gas workout resulting from the drop in commodity prices, including the impact of vendor liens, the treatment of plugging & abandonment and decommissioning liability, the ambiguity surrounding royalty instruments in an oil and gas bankruptcy, and debt to equity conversions in the absence of outside capital.
In the coming weeks, Jones Day will feature additional videos concerning emerging markets, the energy market, and liability management in the face of escalating debt.
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