Excluded Lenders v. Serta

  1. January 24, 2025

    5th Circ. Serta Ruling Gives Grist For Lenders Left Behind

    A Fifth Circuit decision rejecting mattress maker Serta Simmons' controversial "uptier" exchange offers new ammunition for an array of investors excluded from non-pro rata debt transactions, a development that could curb favored creditors and private equity firms' appetite for deals marked by so-called lender-on-lender violence.

  2. January 17, 2025

    Under The Radar: Bankruptcy News You May Have Missed

    Drugmaker Nostrum sought for more time to file a Chapter 11 plan, Swedish debt collection agency Intrum asked a Texas bankruptcy court to enforce its plan that a group of noteholders are opposing, and former employees of a bankrupt drink packager alleged they were unlawfully laid off without any advance warning.

  3. January 02, 2025

    Bankruptcy News You May Have Missed Over The Holiday

    The Fifth Circuit sided with a group of lenders left out of a so-called uptier refinancing deal with mattress seller Serta Simmons, reversing a bankruptcy court's ruling in a closely watched case on liability management transactions; Purdue Pharma secured a one-month extension as its creditors and members of the Sackler family try to reach a settlement in mediation; and retail chain Big Lots reached an eleventh-hour deal to sell some of its stores and thwart a total liquidation.