Marblegate Asset Management v. EDMC: TIA Provision Read Broadly to Protect Bondholder in Restructuring | Practical Law
The US District Court for the Southern District of New York, in Marblegate Asset Management v. Education Management Corp., broadly interpreted Section 316(b) of the Trust Indenture Act of 1939 (TIA) to protect a bondholder's right to payment where a debt restructuring gave the bondholder no choice but to accept payment modification even though it did not modify the indenture terms governing the bonds.