Greg Gartland Speaks with Bloomberg Law About Judge’s Ruling in Serta 2020 Restructuring Deal

Winston & Strawn Partner Greg Gartland was recently quoted in a Bloomberg Law article where he discussed a recent ruling by U.S. Bankruptcy Judge David R. Jones that upheld part of Serta Simmons Bedding LLC’s 2020 restructuring deal that pushed some lenders to the back of the repayment line. The company, which filed for bankruptcy in January, looked to resolve a number of lawsuits from lenders following the deal. Many believe that Judge Jones’ decision, in which he ruled that the deal complied with a contract signed years earlier, has set a precedent that companies in similar situations can use as a defense to lawsuits from investors. 

“This is definitely novel,” said Greg. “If there’s litigation regarding a liability management transaction, I could envision companies using bankruptcy to have the matter heard by a judge there.”

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