December 2016
The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy arena.

FULCRUM SECURITY: Debt or equity obligations of a debtor that are “paid” under a Chapter 11 plan by issuance of equity interests in the debtor that, if acquired, will allow the acquirer to control the debtor.
See also Chapter 11 Plan, Claims Trading.

"The Devil's Dictionary" is an excellent reference tool that reflects the collective wisdom of its four authors, Brett Anders, Jim Bird, David Ferguson, and Dan Flanigan, who have a combined total of more than 110 years working in the forefront of real estate and other commercial finance, loan enforcement, financial restructuring and bankruptcy law.