The State of Play on Uptiers: District Court Reversal in Wesco Blesses Multi-Step Transactions | Mayer Brown
[co-author: Ethan Ashley] On December 8, 2025, in an opinion that will have lasting impacts on the leveraged finance and restructuring markets, the United States District Court for the Southern District of Texas (Crane, J.) (the “District Court”) reversed what had been considered to be a ground-breaking decision of the United States Bankruptcy Court for…

