A recent decision in the Serta Simmons Bedding, LLC (Serta) saga provides valuable insights into the viability of non-pro rata uptier exchange transactions and may embolden minority lenders.
Fiduciary duties are, at their most basic, the legal duties that one individual owes another if the first individual agrees to take responsibility for the needs of the second. The English courts originated fiduciary duties many hundreds of years ago;.
In Peak v. TigerGraph a California federal district court held that an at-will employee who was laid off due to COVID-19 could not recover commissions that were not fully earned prior to his termination.