Procedurally, Judge Isgur's rulings denied in part and granted in part motions for summary judgment, permitting certain claims to proceed to trial beginning on January 25, 2024.
As we previously reported,[1] in 2020 during the COVID-19 pandemic, Serta Simmons Bedding, LLC ("Serta") sought additional funding, and certain of its existing lenders (the "Uptier Lenders").
On October 17, 2022, the New York Supreme Court took the most recent step toward becoming a battleground for challenges to uptier exchange transactions and “creditor on creditor.
Lenders seeking to challenge controversial, often punitive, liability management transactions scored a recent win in Boardriders. The transaction at issue, a priming uptier.