Boardriders decision sparks new Serta Simmons priming transaction challenge
Citing last month’s Boardriders decision, a group of first lien lenders to US bedding group Serta Simmons have sued the company in the same New York state court, claiming a 2020 restructuring it executed “brazenly upended the priorities” in a pre-existing creditor agreement, stripping them of their bargained-for rights.
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