"Foresight Energy Refinancing Results in Big Win for Stroock’s Clients"

Due to a combination of factors, including a winning litigation strategy and execution thereon, noteholders represented by Stroock and Houlihan Lokey in the Foresight Energy situation, whose notes traded as low as 70% of par, recently benefited from a redemption at par plus a make-whole premium.  Noteholders also received and still hold warrants that could have significant value.  All in, the Foresight matter was a huge victory for the noteholders and a case study in how pushing back on an issuer’s overreach can pay large dividends.

This Stroock Special Bulletin details how that victory was achieved.