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Friday, May 1, 2020

Bankruptcy Today Weekender

Catch up on relevant current restructuring news, case filings, legal issues and developments.

Potential Chapter 11 Filings



A flood of business bankruptcies likely in coming months

24 Hour Fitness CEO Responds to Rumors It May File for Bankruptcy

JCPenney Bankruptcy? Analysts Say It's Valuable Enough To Survive

American Airlines posts first loss since its bankruptcy

Saks Fifth Avenue Is Latest Mall Anchor To Prepare For Bankruptcy Filing

Chesapeake's stock plunges after Reuters report of bankruptcy preparations

A firm that employs doctors at 2 bankrupt Maine hospitals may seek bankruptcy itself

Car-rental giant Hertz is reportedly preparing for a potential bankruptcy after it missed lease payments

Gap downgraded as it raises new debt to stay afloat

S&P downgrades Macy's on worsening economic outlook

Bloomberg: Guitar Center misses interest payments as it looks to restructure debt

J. Crew reportedly preps for bankruptcy

Retail Restructuring News



Department Stores Run 'Black Friday in April' Sales to Avoid Bankruptcy

How COVID-19 could change the retail landscape

The Pandemic Will Change American Retail Forever

More than half of mall-based department stores could close in two years

Tracking retail’s response to the coronavirus

Retail Bankruptcies Could Impact Industrial Supply and Rents

Should Neiman Marcus Exist?

Investors to Challenge Neiman Marcus Bankruptcy Loan, Push for Sale-Sources

18 Utilities Companies Are Calling Out Modell’s for Nonpayment As Bankruptcy Remains On Ice

Modell's Granted Second Suspension of Bankruptcy Amid COVID-19

Adidas warns worse to come as Q1 profits plunge 97%

Chico's plans to reopen stores starting May 4

Notable Filings



Dallas private aviation service JetSuite files for bankruptcy

As DFW aviation firm files for bankruptcy, what happens to millions in unused customer deposits?

Frontier’s Bankruptcy Reveals Why Big ISPs Choose to Deny Fiber to So Much of America

Virgin Australia airline seeks bankruptcy protection

TooJay’s Original Gourmet Deli, Which Received PPP Funds, Files For Bankruptcy

Diamond Offshore files for bankruptcy as oil crisis shakes out industry

Hair Cuttery parent company to sell assets as part of bankruptcy reorganization plan

Owner of CMX Cinemas Files for Bankruptcy Protection

Legal Issues



First Circuit Issues Important Ruling on Valuing Secured Claims in Settled Causes of Action

How to navigate Congress’ bankruptcy-code changes

Texas Bankruptcy Judge Lifts PPP Bankruptcy Bar for Debtor on Front Line of COVID-19 Response

Emergency Bankruptcy Reform - A Call For Action!

Employers should understand these bankruptcy and creditors’ rights issues around employee termination

Bankruptcy Court Overrides SBA’s Prohibition Against Extending PPP Loans to Companies in Bankruptcy

Can a hotel ever be “single asset real estate” for bankruptcy purposes? What is “SARE” and who cares?

Non-Residential Lease Default Workouts, Security Deposits and Bankruptcy

COVID-19 Bankruptcy Moratorium Regime Amended

Rejection of Gathering Agreements in Chapter 11

Claims Based on Avoidable Transfer Cannot be “Washed Clean” in the Secondary Market

Individual Employs New Small Business Bankruptcy Law to Modify Mortgage

Feature Articles



Bankruptcy Courts Report Fewer Filings Despite Coronavirus. But There Is Fear The Water’s Drawing Back Before A Tsunami

The Fed expands its $600 billion lending program for struggling businesses but leaves start date unannounced

PG&E Says On Track For Bankruptcy Court Confirmation Of Reorganization Plan

Oil Price Crash Drives Diamond Offshore To Bankruptcy With 2,500 Jobs At Stake

Frontier Communications Bankruptcy May Create Acquisition Opportunity for Rural Telcos

The Bankruptcy Question.

O'Melveny US Restructuring Chief Jumps to Latham as Bankruptcy Work Swells

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