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Saks Has Ch. 11 Exit Funds, But Exit Door Appears Elusive
The company behind luxury retailer Saks Fifth Avenue may now have cash for its short-term needs in bankruptcy, but its long-term plans are still a mystery, with exit financing in hand but no exit strategy, experts told Law360.
COVID, Racketeering Suit Stirred Up Compass Coffee's Ch. 11
Washington, D.C.-based Compass Coffee filed for bankruptcy protection last week after struggling to recover from a pandemic-driven drop in foot traffic and facing litigation brought by its co-founder.
Meet The Attys Taking Saks From 5th Ave. To Ch. 11
The parent company of luxury department store chain Saks Fifth Avenue has hired attorneys from Willkie Farr & Gallagher LLP and Haynes Boone to see it through the bankruptcy it began with $3.4 billion in funded debt.
Saks Has Ch. 11 Exit Funds, But Exit Door Appears Elusive
The company behind luxury retailer Saks Fifth Avenue may now have cash for its short-term needs in bankruptcy, but its long-term plans are still a mystery, with exit financing in hand but no exit strategy, experts told Law360.
COVID, Racketeering Suit Stirred Up Compass Coffee's Ch. 11
Washington, D.C.-based Compass Coffee filed for bankruptcy protection last week after struggling to recover from a pandemic-driven drop in foot traffic and facing litigation brought by its co-founder.
Expert Analysis
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Large Cap More
A major creditor in an investment firm founder's Chapter 11 asked a bankruptcy judge to hash out how much the debtor owes the Internal Revenue Service and rule that the tax collector's claims don't have priority.
Del Monte has struck a deal to sell its assets in a trio of bankruptcy sales collectively valued at $498 million, the canned food processing company has announced in a notice of successful bidder filing.
A Texas federal judge has rescinded an attorney fee award of over $41 million to Robbins Geller Rudman & Dowd LLP, Labaton Keller Sucharow LLP and Entwistle & Cappucci LLP after the firms became engaged in a d... (more story)
Florida's Nason Yeager Gerson Harris & Fumero PA has expanded its reach in South Florida with a new office in downtown Fort Lauderdale.
Comerica Bank is not liable for the actions of a former Chapter 7 liquidator, to whom the bank was paying fees during the bankruptcy of a tool manufacturer, the Sixth Circuit has found.
The European Commission has announced its approval of a $5.9 billion bid by hedge fund Elliott Investment Management LP to purchase shares in Citgo's parent company and settle billions of dollars of debt owed ... (more story)
Nursing home operator Genesis Healthcare on Wednesday said it had chosen a roughly $1 billion bid in its second Chapter 11 auction and gave the back up bidder's role to an entity that had challenged the result... (more story)
A New Jersey bankruptcy judge said Thursday he will allow trusts set up under Rite Aid's first Chapter 11 plan to examine personal health data to support their effort to litigate tort and insurance claims, ove... (more story)
Attorneys who are experienced in handling high-profile bankruptcy and corporate matters will next week argue an appeal in Delaware's Supreme Court seeking to revive a complaint filed over a special purpose acq... (more story)
Nossaman, Winstead and Gordon Reese are among the law firms that have made recent real estate or construction hires.
Mid Cap More
A New York bankruptcy judge approved the $451 million sale of 93 properties in the Chapter 11 case of real estate entities affiliated with Pinnacle Group, saying the buyer's plan to invest $30 million in repai... (more story)
Major Popeyes Louisiana Kitchen franchise operator Sailormen Inc. has filed for Chapter 11 protection in Florida bankruptcy court with more than $342 million in liabilities, saying it is facing a bid for the a... (more story)
Groups representing tenants living in rent-stabilized housing units owned by bankrupt affiliates of Pinnacle Group told a New York judge Thursday they want the buyer of the debtor's assets to provide as much a... (more story)
A Florida federal judge denied a motion brought by the founder of the company that makes Bang energy drinks to avoid paying Monster Beverage Corp. $308 million stemming from a false advertising lawsuit, saying... (more story)
A trustee for the bankruptcy estate of a former medical spa owner alleged that Aspen Specialty Insurance Co. breached its duty to defend the woman in litigation over a client's burn injury, forcing her to face... (more story)
A Washington federal judge has granted Expedia's request to seek assistance from Singapore's court system to obtain documents from Trip.com to support its defense in an antitrust case filed by Switzerland-base... (more story)
An Italian jockey is not able to pay back over £765,500 ($1.02 million) in company tax debt to HM Revenue & Customs following his bankruptcy last year amid a private dispute with the U.K. tax authority, accord... (more story)
Bankrupt vodka-maker Stoli Group USA's secured lender said at a Thursday status conference that it would vie for Chapter 11 trustees in the wake of Stoli and its creditors committee filing separate bids to con... (more story)
A Delaware bankruptcy judge Wednesday approved Norcold LLC's disclosure statement for distribution to creditors for a vote, after the official committee of unsecured creditors said it was satisfied with change... (more story)
A debtor compromise with unsecured creditors cleared the way Wednesday for approval of sports retailer Mountain Sports LLC's Chapter 11 disclosure statement, after the resolution of concerns from a separate cr... (more story)