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Debtors Bankruptcy Court Credit Agreements

Proskauer Rose LLP

Final Ruling in Serta Reaches Decision on “Open Market Purchase”

Proskauer Rose LLP on

Background In November 2016, Serta Simmons Bedding, LLC and certain affiliates (collectively, the “Debtors”) entered into credit facilities which provided for (i) $1.95 billion in first lien term loans (the “2016 Credit...more

Dechert LLP

Are Lockbox Lenders Subject to Implied Duties?

Dechert LLP on

Recently, in In re Moon Group Inc., a bankruptcy court said no, but the district court, which has agreed to review the decision on an interlocutory appeal, seems far less sure. The bankruptcy court held that a lockbox...more

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