Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision...more
3/31/2025
/ Assignments ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Credit Agreements ,
Debt Restructuring ,
Debtors-in-Possession ,
Equitable Mootness ,
Financial Distress ,
Foreign Bankruptcies ,
Indemnification Clauses ,
Restructuring
In In re Serta Simmons Bedding, LLC, 125 F.4th 555 (5th Cir. 2024), as amended, No. 23-20281 (5th Cir. Jan. 21, 2025), revised and superseded, No. 23-20181 (5th Cir. Feb. 14, 2025), reh'g denied, No. 23-20181 (5th Cir. Feb....more
3/31/2025
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Breach of Contract ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit Agreements ,
Creditors ,
Equitable Mootness ,
Indemnification ,
Lenders ,
Loans
In recent years, market participants have watched with interest from across the Atlantic as U.S. out-of-court liability management and restructuring transactions moved material assets out of the creditors' collateral pools,...more