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Seward & Kissel LLP

Fifth Circuit Reverses Bankruptcy Court’s Ruling on Lenders’ Sacred Right of Pro Rata Repayment in Uptiering Transaction

Seward & Kissel LLP on

On December 31, 2024, the Fifth Circuit Court of Appeals overturned the Bankruptcy Court for the Southern District of Texas’ (the “Bankruptcy Court”) decision that the exchange by certain lenders of Serta Simmons Bedding, LLC...more

Seyfarth Shaw LLP

Second Circuit Reverses Marblegate Decision

Seyfarth Shaw LLP on

Trust Indenture Act Section 316(b) Limited to Actual Amendments to An Indenture’s Core Terms - Seyfarth Synopsis: On January 17, 2017, in a 2-1 decision in Marblegate Asset Management, LLC v. Education Management Finance...more

Robins Kaplan LLP

Second Circuit Rules on TIA Section 316(b); Overturns Marblegate (and Caesars)

Robins Kaplan LLP on

Yesterday, in the latest chapter in the ongoing debate over Section 316(b) of the Trust Indenture Act, the Second Circuit reversed the district court’s decision in Marblegate, concluding that the TIA does not prohibit...more

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