Apollo Global Management and other investment firms left out of Serta Simmons Bedding LLC’s controversial 2020 debt exchange filed suit in New York state court to corral various hedge funds into bankruptcy court litigation.
Apollo, Angelo Gordon & Co. and others in a minority group of Serta lenders unwittingly pushed down in the pecking order to recover on term loans against the mattress manufacturer moved Thursday to shore up their position against firms that took part in the 2020 “uptier” restructuring transaction.
The plaintiffs are currently awaiting a decision from the US Bankruptcy Court for the Southern District of Texas ...
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