This Emerging Issues video is the second in a series about risk management in the current economic environment. In it, Tom Howley, a partner in the Firm's Business Restructuring & Reorganization Practice, discusses the unique issues in oil & gas workouts 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 & gas bankruptcy, and debt to equity conversions in the absence of outside capital.
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