Ropes & Gray Article Analyzing Xerox’s IP Drop-Down Published in The Licensing Journal

The Licensing Journal published a client alert on the Xerox Corporation’s “non-subsidiary” liability management transaction authored by Ropes & Gray finance partners Sam Badawi and Nitin Konchady, and finance knowledge management attorney Alisha Turak.

Xerox’s transaction in February received attention for its use of a joint venture to avoid restrictions in its debt documents that apply to entities defined as “subsidiaries.” The article examines how the approach may gain traction among borrowers whose balance sheets are anchored by valuable IP.

The alert was first published in Distressed Debt Legal Insights.