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Friday, May 22, 2020

Bankruptcy Today Weekender

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

Potential Chapter 11 Filings



What if Connecticut Files for Bankruptcy?

Gavilan is Latest Shale Player Pursuing Bankruptcy

Hertz selling off Chevy Corvette, Camaro fleet amid bankruptcy rumors

A 67-year-old trucking company is filing for bankruptcy, and it puts nearly 1,000 truck driver jobs at risk

Sears' survival is in doubt

Retail Apocalypse: Victoria’s Secret, Bath & Body Works To Close Hundreds Of Stores

GNC buys time on its debt

Kohl's swings to $541M loss as closures decimate sales

As Fort Worth’s American Airlines battles COVID, are bankruptcy or job cuts possible?

American Airlines Exec Rejects Bankruptcy Speculation: ‘Take That One Off The List’

Retail Restructuring News



All the Fashion and Beauty Brand Closures and Bankruptcies Caused by the Pandemic

Retail Restructurings Related to COVID-19 Shutdowns

5 retail deals that have collapsed in 2020 (so far)

The coronavirus is crushing bankrupt retailers’ hopes for a rebound - and threatening even more jobs

J.C. Penney post-bankruptcy plan includes closing 29% of stores

JCPenney's bankruptcy is the latest sign that department stores as we know them are dead

Ch. 11 is J.C. Penney's best shot at a turnaround, but it's not a sure one

Pier 1 Asks Bankruptcy Court to Close All of Its Stores for Good amid Coronavirus Pandemic

Pier 1 to permanently shut stores, wind down business

Guitar Center makes debt payment, dodges default

L Brands to close 250 Victoria's Secret stores

Macy's Q1 loss could top $1B

Notable Filings



J.C. Penney files for bankruptcy

Comcar files for Chapter 11, plans to sell five subsidiaries

Centric Brands files for voluntary bankruptcy with $435 million of DIP financing and plan to go private

Legal Woes Force Florida Carrier To File For Bankruptcy Protection

Ultra files for bankruptcy: gas producer was state’s largest tax contributor last year

Legal Issues



Bankruptcy courts ill-prepared for pandemic tsunami

How can a “special purpose entity” borrower ever file bankruptcy if independent directors must approve the filing?

Ending the inevitable battle over whether the estate should assert claims: The case for independent fiduciary investigations

Minority Shareholder With Bankruptcy Consent Rights Considered Controlling Minority Shareholder With Fiduciary Duties

What Bankruptcy Counsel Need to Know About Antitrust Law: Nothing Is Free and Clear

Beware of Debtor Tax Traps in Restructuring and Bankruptcy

Feature Articles



PG&E Says Wildfire Victims Back Settlement in Bankruptcy

Bankruptcy Claims Date Set for Boy Scouts Child Sex Victims

Bankruptcy Court Judge Authorizes Chapter 11 Trustee for San Luis & Rio Grande Railroad, Inc. to Auction 100% of Membership Interest in Its Wholly-Owned Subsidiary Massachusetts Coastal Railroad, LLC

Health Care Restructurings and Bankruptcies in the COVID-19 Era

Can SPEs Be Truly Bankruptcy Remote Entities for Hotel and Resort Loans?

Vince McMahon planning to buy XFL out of bankruptcy?

Prominent Restructuring and Insolvency Attorney Announces Formation of Pack Law in Anticipation of COVID Economic Fallout

The Failing Firm Defense in Times of Economic Uncertainty

Highly indebted ‘zombie’ companies control more than 2 million U.S. jobs

Bankruptcy's 'Deep Freeze' May Be Struggling Cos.' Best Hope

After Filing For Chapter 11 Bankruptcy, Employers Shouldn’t Forget Their Collective Bargaining Obligations

Preventing Bankruptcy With Disaster Relief Assistance

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