Serta LME Ruling
A few weeks ago, a court ruled that the LME transaction undergone by Serta was a not allowed and I believe was ordered to be unwound. My question is how that is feasibly done a few years after the transaction, when prices of the debt have changed, exchanges have been made, the company has likely been operating under the assumption that things are fine, etc.?
In terms of the bankers who worked on either the debtor or credit side, how does this affect them? I'm sure they're getting more work now which means more fees which is good, but what is the work they have to do now? Can any of their previously earned fees be recalled?
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