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Chapter 11 Appeals Indemnification

Jones Day

Fifth Circuit Rules that Serta Simmons Uptier Violated Credit Agreement, Rejects Equitable Mootness as Bar to Review of Chapter 11...

Jones Day on

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Simmons Bedding, LLC, 125 F.4th 555 (5th Cir. 2024), as amended, No. 23-20281 (5th Cir. Jan. 21, 2025), revised and superseded, No. 23-20181 (5th Cir. Feb. 14, 2025), reh'g denied, No. 23-20181 (5th Cir. Feb....more

Faegre Drinker Biddle & Reath LLP

Fifth Circuit Rejects Equitable Mootness Application in the Strongest Possible Terms, Excises Indemnity

In a landmark decision, the United States Court of Appeals for the Fifth Circuit rejected the application of equitable mootness in the strongest possible terms, stating that if the doctrine rendered the bankruptcy court’s...more

Morrison & Foerster LLP

Latest Uptier Decisions in Serta and Mitel Remind Contract Language Matters

The caselaw on “uptiers” as liability management exercises (LMEs) grew by two opinions on the last day of 2024. In Serta, the Fifth Circuit reversed the bankruptcy court’s blessing of the pre-bankruptcy uptier and...more

ArentFox Schiff

Fifth Circuit's German Pellets Opinion: Risks of Nonparticipation in Bankruptcy for Creditors

ArentFox Schiff on

A significant recent decision by the Fifth Circuit Court of Appeals in the case of Raymond James & Assocs. V. Jalbert (In re German Pellets La., L.L.C.), 91 F.4th 802 (5th Cir. 2024) (German Pellets), underscores the...more

Holland & Hart LLP

Georgia-Pacific Ruling Furthers Texas Two-Step Challenges

Holland & Hart LLP on

The U.S. Court of Appeals for the Fourth Circuit recently approved injunctive relief as part of a strategy for settling mass tort claims through the Chapter 11 bankruptcy case of Bestwall LLC, an entity created by...more

Pullman & Comley, LLC

Appellate Court Notes

Pullman & Comley, LLC on

Appellate Court Advance Release Opinions - AC36506 - Sidorova v. East Lyme Board of Education - Due to budget cuts, the Board of Education laid off the plaintiff who was a tenured French teacher. She sued for...more

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