State of Distressed: Latham’s Sobolewski on Evolving LME Tactics

FICC Focus · Sep 25, 2026 · 1h 24m

“’Co-op first, ask questions later’ is down a bit from its peak, though not dead,” observes John Sobolewski, Global Chair of Latham & Watkins’ Liability Management Practice, as he addresses the latest dynamic between debtors and lenders in distressed situations. In this episode, Bloomberg Intelligence analysts Negisa Balluku and Phil Brendel sit down with John to explore the current state of Liability Management Exercises (LMEs) and why stakeholders are ultimately motivated to find negotiated resolutions over value-destroying, multiyear litigation. The conversation unpacks the delicate…