ICG Global Loan Fund 1 DAC, et al. v. Boardriders, Inc., et al. (NY Sup. Ct.)
Co-counsel to group of minority lenders challenging non-pro rata priming transaction entered into between borrower, majority lenders, and equity sponsor. The legal issues being litigated here (i.e., whether a private roll-up debt exchange qualifies as an “open market” purchase and good faith and fair dealing requirements) are hot items garnering significant attention in the market. This matter is ongoing.