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Debt Restructuring Creditors Credit Agreements

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

Jones Day

Extracting Value from Leveraged Businesses: The Case of McLaren and its Bondholders

Jones Day on

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

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