Mark Adelson, the editor of the Journal of Structured Finance, the content director at Portfolio Management Research, and an independent consultant, joins Patrick Dolan to discuss the Serta Simmons Bedding case. They examine the big picture of the case and dive into key issues related to “covenant lite” loans, “trap door” financings, and the details of the Serta Simmons Bedding case financing. They also address where the case stands now and what happens next.