The Marriott Corp. spinoff that bloodied bondholders and benefited stockholders may get a new covenant named for it if a group of lawyers have their way.

The lawyers, who represent PPM America Inc.-led bondholders in a suit against Marriott, said they plan to ask the American Bar Association to adopt their proposed "Marriott Risk Covenant" at the association's meeting on Monday.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.