July 23, 2019 / 12:25 AM / a month ago

Hollander reaches 'global peace' settlement to advance Ch. 11 plan

Hollander Sleep Products LLC sought a court order on Monday approving a settlement with unsecured creditors that revises its restructuring support agreement and marks an important step toward the maker of bedding products emerging from Chapter 11 bankruptcy.

Key terms of the settlement include Hollander setting aside $500,000 for a recovery pool for general unsecured claims in a reorganization plan, according to a filing in U.S. Bankruptcy Court for the Southern District of New York by the company’s lawyers at Kirkland & Ellis.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2LzMP9p

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