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Friday, June 5, 2020

Bankruptcy Today Weekender

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

Potential Chapter 11 Filings



24 Hour Fitness Engages With Suitors Before Planned Bankruptcy

New York & Company owner RTW Retailwinds warns bankruptcy filing imminent

AMC Theatres parent signals it could face bankruptcy

AMC Theaters May Not Survive the Pandemic

Party City buys time with debt deal

Gap Inc. Q1 loss nears $1B

One-third of small independent farms could go bankrupt in 2020 due to COVID-19

Nearly two-thirds of public restaurants face bankruptcy risk

View All Filings
Retail Restructuring News



A bankruptcy filing doesn’t spell the end for retailers

Brick and mortar's next chapter

JCPenney, Tuesday Morning, Pier 1 going-out-of-business liquidation sales different because of COVID-19

Fight Over ‘Predatory’ J.C. Penney Bankruptcy Loan Gets Ugly

Bankrupt J.C. Penney plans 154 initial store closures

Tuesday Morning Scores Additional $25 Million Bankruptcy Loan

Pier 1 gets approval to liquidate stores, wind down operations

Bankrupt Neiman Marcus breached its loan terms, lender says

LVMH takes a new look at proposed $16.2B Tiffany merger

Simon Property Group reportedly takes Gap to court over unpaid rent

Notable Filings



Exide files for bankruptcy; Muncie plant for sale

Libbey, a major supplier of glassware to restaurants and bars, has filed for bankruptcy after the pandemic demolished demand

Templar Energy seeks Chapter 11 bankruptcy

Legal Issues



Force Majeure and COVID-19: Illinois Bankruptcy Court Rules That Force Majeure Provision Partially Excuses Rent Payments

Delaware Bankruptcy Court Diverges from Fifth Circuit: Minority Shareholder’s Blocking Right Invalidated and Fiduciary Duty Imposed

Sec. 363 bankruptcy sales may yield higher prices than Chapter 11

Bankruptcy Law Can Be Unclear When Crypto Custodians Go Belly Up

Is a Purchase in Bankruptcy Really Free and Clear of Liability During COVID-19?

Are Leveraged Loans Subject To Securities Laws? It Depends…

Feature Articles



Commercial Chapter 11s Jump 48% in May Y/Y

COVID-19 Coverage Fight: Will Bankruptcy Exclusions Be Enforced?

Could We Have Seen Hertz’s Bankruptcy Coming?

How a Hertz Bankruptcy Affects its Franchisees

Boy Scouts Filing Sexual Abuse Lawsuits Face Deadline Agreed to in Bankruptcy Deal

PG&E critics urge judge to reject utility's bankruptcy plan

29 hospital bankruptcies in 2020

What Increased Bankruptcy Filings Across Health Care Could Mean for Home Health Providers

Bankruptcy Is a Jackpot for CEOs Helming Failed Oil Companies

A second chance: More farms file for bankruptcy protection

Bargain hunters take a risk on some restaurants

Investment Fund Rescues Iconic Barbershop From Pandemic-Related Bankruptcy

An Analysis of Liquidated Damages and Contract Rejection in Bankruptcy

Landlords feeling the pain from bankruptcy court rulings

Landlord Considerations Inlease Workouts with Troubled Healthcare Operators

How Bankruptcy Courts Are Hurting Landlords

Pretium Adds Senior Bankruptcy and Distressed Specialist as Senior Managing Director

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