Bonds
Spurned Bondholders Sue AMC Entertainment Over Restructuring
- AMC reached sweeping deal in July to push out debt maturities
- Lenders say deal ‘took a knife’ to key rights and collateral
This article is for subscribers only.
A group of AMC Entertainment Holdings Inc.’s noteholders have sued the movie chain company, claiming a sweeping restructuring deal in July eroded their rights and prioritized more junior bondholders.
First-lien noteholders, including Anchorage Capital and its related funds, Carronade Capital Management, Deutsche Bank Securities Inc. and P Schoenfeld Asset Management, filed a lawsuit in a New York state court on Tuesday, arguing the deal stripped them of collateral.