Selendy Gay Reaches Favorable Settlement in STG Logistics Liability Management Dispute
Selendy Gay clients, Siemens Financial Services and Axos Financial, reached a favorable settlement in their litigation against STG Logistics, certain of its lenders, and the administrative agent of STG’s loans. The dispute arose out of STG’s 2024 liability management transaction, a “double-dip” transaction that transferred away critical credit support for our clients’ loans. The settlement paved the way for a consensual confirmation process in STG’s Chapter 11 bankruptcy cases.
