Freshfields secures litigation win for Barings LLCOn March 10, 2021, Freshfields obtained for its client Barings LLC dismissal of a lawsuit brought against Serta Simmons Bedding LLC, Barings and certain other of Serta’s former first lien lenders who participated in Serta’s first-of-a-kind restructuring transaction.
On July 2, 2020, certain of Serta’s non-participating first lien lenders filed a lawsuit in the United States District Court for the Southern District of New York, seeking to unwind the transaction. The District Court granted the motions of the defendants, including Barings LLC, to dismiss the federal-court lawsuit for lack of subject matter jurisdiction.
The Freshfields team representing Barings was comprised of partner Madlyn Gleich Primoff and senior associate Henry Hutten.
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