🍪 Our Cookies

This website uses cookies, pixel tags, and similar technologies (“Cookies”) for the purpose of enabling site operations and for performance, personalisation, and marketing purposes. We use our own Cookies and some from third parties. Only essential Cookies are used by default. By clicking “Accept All” you consent to the use of non-essential Cookies (i.e., functional, analytics, and marketing Cookies) and the related processing of personal data. You can manage your consent preferences by clicking Manage Preferences. You may withdraw a consent at any time by using the link “Cookie Preferences” in the footer of our website.

Our Privacy Notice is accessible here. To learn more about the use of Cookies on our website, please view our Cookie Notice.

STG Logistics — Summary and analysis on where the LME litigation stands today and precedent

Share

News and Analysis

STG Logistics — Summary and analysis on where the LME litigation stands today and precedent

Jane Komsky's avatar
  1. Jane Komsky
14 min read

The STG Logistics LME litigation runs through the full gamut of LME issues the market wants a decision on: drop downs, double dips, no action clauses, sacred rights, “effect of” arguments, and more.

The defendants in the lawsuit brought by two of STG’s minority lenders Axos Financial and Siemens Financial Services — who did not participate in STG’s liability management transaction — have all filed motions to dismiss the complaint. As 9fin previously reported, the defendants include the company, the majority lenders — a group that includes Deutsche BankCitizens BankFortress CreditDrawbridgeInvescoBlue MountainProspect CapitalFidelity, and Ballyrock — as well as Antares who was the administrative agent under the credit agreement.

What are you waiting for?

Try it out
  • We're trusted by the top 10 Investment Banks