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Professionals 4 results
Capabilities 2 results
Practice Area
Bankruptcy Litigation & Investigations
Large corporate bankruptcies and companies in financial distress often spawn a complex web of claims by lenders, trustees, debtors, creditors, creditors’
committees, investors, shareholders, and other constituents. Attorneys in Winston & Strawn’s complex commercial litigation group and restructuring and
insolvency group—both ranked in Tier 1 by Best Law Firms®—serve as trusted advisors and resolute advocates to protect clients’ business intere...Read more
committees, investors, shareholders, and other constituents. Attorneys in Winston & Strawn’s complex commercial litigation group and restructuring and
insolvency group—both ranked in Tier 1 by Best Law Firms®—serve as trusted advisors and resolute advocates to protect clients’ business intere...Read more
Practice Area
Winston is a global powerhouse in the restructuring and insolvency space. We offer a fully integrated team of attorneys across a global platform to guide
clients through any distressed situation, whether the client is a savvy and interested investor, a creditor seeking to maximize its recovery, or a company
aiming to proceed through a successful yet complex restructuring. We have advised stakeholders in some of the highest-profile restructurings an...Read more
clients through any distressed situation, whether the client is a savvy and interested investor, a creditor seeking to maximize its recovery, or a company
aiming to proceed through a successful yet complex restructuring. We have advised stakeholders in some of the highest-profile restructurings an...Read more
Insights & News 6 results
Client Alert
|July 5, 2023
|8 Min Read
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”) provided $200 million of new first-out superpriority debt and exchanged their existing first- and second-lien debt for
$875 million in senior and second-out superpriority debt (the “Uptier Transaction”). As a result of the Uptier Transaction, the debt held by the excl...Read more
existing lenders (the “Uptier Lenders”) provided $200 million of new first-out superpriority debt and exchanged their existing first- and second-lien debt for
$875 million in senior and second-out superpriority debt (the “Uptier Transaction”). As a result of the Uptier Transaction, the debt held by the excl...Read more
Client Alert
|April 19, 2023
|7 Min Read
In Landmark Ruling, Bankruptcy Court Upholds “Uptier” Transaction in Serta Simmons Bedding Case
In 2020, Serta Simmons Bedding, LLC (“Serta”) launched one of the first of the now common uptiering transactions, resulting in some – but not all – of Serta’s
existing lenders (the “Uptier Lenders”) providing new priming loans and exchanging some of their existing loans for new priority debt (the “Uptier
Transaction”). When the excluded lenders (the “Excluded Lenders”) who were never invited to participate found themselves being subordinated ...Read more
existing lenders (the “Uptier Lenders”) providing new priming loans and exchanging some of their existing loans for new priority debt (the “Uptier
Transaction”). When the excluded lenders (the “Excluded Lenders”) who were never invited to participate found themselves being subordinated ...Read more
In the Media
|April 13, 2023
|1 Min Read
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 J...Read more
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 J...Read more
Other Results 2 results
Location
Winston & Strawn’s New York office opened in 1989 and has since grown to become the firm’s second-largest location, with 225+ lawyers distributed across
16 practice areas. Based in the iconic MetLife Building above Grand Central Station in Midtown Manhattan, our New York lawyers represent 80+ Fortune 500
companies from the city’s business epicenter. Our New York attorneys are tenacious and insightful, and they reflect the rich tapestry of New York...Read more
16 practice areas. Based in the iconic MetLife Building above Grand Central Station in Midtown Manhattan, our New York lawyers represent 80+ Fortune 500
companies from the city’s business epicenter. Our New York attorneys are tenacious and insightful, and they reflect the rich tapestry of New York...Read more
Location
Since opening in 2011, Winston & Strawn’s Houston office has grown to nearly 60 lawyers and is home to many long-standing leaders of the Houston legal
and business communities. Our Houston office hosts a comprehensive transactional team specializing in private equity, capital markets, and public
companies, as well as extensive commercial litigation and intellectual property practices—with nearly all Houston IP attorneys possessing technic...Read more
and business communities. Our Houston office hosts a comprehensive transactional team specializing in private equity, capital markets, and public
companies, as well as extensive commercial litigation and intellectual property practices—with nearly all Houston IP attorneys possessing technic...Read more