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Borrowers Commercial Bankruptcy Debt Restructuring

Goulston & Storrs PC

Rethinking Liability Management in Club Deals and Direct Lending: Lessons from the Fifth Circuit’s Serta Ruling and Beyond

Goulston & Storrs PC on

On December 31, 2024, the Fifth Circuit Court of Appeals (the “Court”) struck down the controversial 2020 “uptier transaction” executed by Serta Simmons Bedding (“Serta”). The Serta case and several other state court and...more

Mayer Brown

Serta and Mitel: The Latest Major Court Decisions on Uptier Transactions

Mayer Brown on

Summary: On December 31, 2024, two major appellate court decisions addressed the legality of uptier financing transactions—one involving Serta Simmons Bedding (“Serta”) and the other Mitel Networks Corporation (“Mitel”). Both...more

WilmerHale

Serta’s (Un)Surprising Take on Equitable Mootness

WilmerHale on

In its New Year’s Eve decision in Serta Simmons Bedding, the Fifth Circuit underscored the importance of drafting debt documents with clarity and precision and cautioned against borrowers’ reliance on ambiguous language to...more

Shipman & Goodwin LLP

Strategic Alternatives: Mastering Deeds-in-Lieu, Friendly Foreclosures and Navigating Bankruptcy Scenarios

Shipman & Goodwin LLP on

While traditional enforcement often requires judicial intervention, alternative resolution strategies can deliver superior outcomes with reduced costs, compressed timelines, and diminished reputational impact. Understanding...more

Bowditch & Dewey

Ten Reasons to Expect an Increase in Financial Restructurings in 2025

Bowditch & Dewey on

1. Commercial Chapter 11 Bankruptcy Filings Have Increased Significantly Year-Over-Year: There has been a significant increase in the number of commercial Chapter 11 cases (larger company filings) in 2024. By way of example,...more

Arnall Golden Gregory LLP

Restructuring Roundup - March 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Williams Mullen

Williams Mullen's Comeback Plan: Part IV - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times

Williams Mullen on

In the final installment of our video series aimed at helping borrowers in uncertain times, Matt Cheek, chair of Williams Mullen’s Financial Services Industry Group, and Mike Mueller, chair of our Restructuring, Bankruptcy...more

K&L Gates LLP

Distressed Solutions: The Ins and Outs of Receiverships

K&L Gates LLP on

Receiverships are an extraordinary remedy that can maximize the return to creditors by freezing assets and allowing a third party to conduct necessary litigation. John Gardner (Raleigh) and David Neu (Seattle) join host...more

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