Bankruptcy Law News and Insights

2024 brought a number of headline stories that will impact the bankruptcy and restructuring market in 2025 and beyond. A few of those are summarized below. LMEs (Of course). Liability management exercises — sometimes referred to as "lender-on-lender violence" — continued on their growth trajectory during 2024, with restructuring advisors looking...

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Highlights A three-judge panel of the U.S. Court of Appeals for the Fifth Circuit has unanimously held that the debt exchange undertaken by Serta Simmons Bedding did not qualify as an "open market purchase" under the terms of Serta's 2016 credit agreement. Therefore, the "uptier transaction" was not permitted, with...

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Scott Kirby, CEO of United Airlines, commented on Spirit Airlines' plan of reorganization in the quote below. In short, Kirby appears to think that Spirit's plan is a road to nowhere, except Chapter 7 liquidation. While he isn't exactly an objective observer, he doesn't appear to be wrong either, as...

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