Category Archives: Bankruptcy

Payless Expected to File for Bankruptcy in Next Few Weeks

As I mentioned in my article from January, “11 Retailers to Watch for Possible Bankruptcy Filings in 2017,” it looks like Payless is on the verge of a bankruptcy filing. Bloomberg reports that Kansas-based Payless, Inc. may be filing for bankruptcy protection as early as next week. The retail discount shoe chain has more than 4,000 stores …

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Bankruptcy News: Gander Mountain Shooting for Chapter 11 Bankruptcy

Reuters reports Gander Mountain, the St. Paul based hunting and fishing chain, is preparing to file for bankruptcy. The bankruptcy is reportedly due to aggressive expansion that failed to draw new customers. Gander Mountain is known as America’s firearms superstore. Gander has faced stiff competition from Bass Pro Shops, Cabela’s, and Dick’s Sporting Goods. Currently, …

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The Road Ahead for 2017 – Restructuring & Insolvency in Australia

It is anticipated that, by the middle of the year, Australia will see the most significant reform to the corporate and personal insolvency environment in two decades. The reforms, which appear likely to be supported by all sides of government, are designed to promote business preservation and allow greater flexibility in order to ‘turnaround’ distressed …

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Jevic Holding Corp.: Is The Supreme Court Now Ready To Strike Down Structured Dismissals?

In a prior post, we discussed the Third Circuit Court of Appeals’ decision in Jevic Holding Corp., where the court upheld the use of so-called “structured dismissals” in bankruptcy cases, and the Supreme Court’s grant of certiorari. On December 7th, the Supreme Court heard oral argument in Jevic.  The Court’s ultimate ruling will likely have …

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Teenagers And D.C. Circuit Agree: Internet Service Is A Utility – Will Bankruptcy Courts Follow?

The topic of net neutrality has continued to be at the forefront of public discourse over recent years.  This is the result of the FCC’s repeated attempts to impose regulations designed to protect consumers while at the same time telecom companies seek to control their product and the services they provide without what they contend …

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Collections in Connecticut Part 1: Pre and Post-Judgement Collection Specifics

Collections in Connecticut – how to get paid if you are owed money? Collecting money owed to you or your company can be frustrating.  You or your company are owed money and have not been paid.  What are your legal options?  The following video is the first in a series of three discussing collection law in …

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Attorneys Facing An Uphill Battle In Litigation Should Consider Option Value When Arguing Valuation

Let me tell you a sad story; Joe owned a marketing company and earned a prosperous living for several years. Joe’s business was growing rapidly and all seemed right with the world. Then a trusted employee left Joe’s firm, taking with him half of Joe’s customers in violation of his non-compete agreement. Joe’s business slowly …

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Want to learn more about bankruptcy litigation? Join the Federal Bar Association on June 24th for their Fundamentals seminar!

This seminar will consist of three 90 minute sessions, and address numerous issues facing the bankruptcy practitioner, including jurisdiction, venue, local rules, motion practice, trial trips, appellate practice, and practical do’s and don’ts. Register today. This program is suitable for both newly-admitted and experienced attorneys. Presenters include: Judge Laura Taylor Swain, Southern District of New …

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The Meridian Sunrise Village Opinion Redux Re: Bankruptcy and Distressed Debt Investors

In my last post I discussed the Meridian Sunrise Village v. NB Distressed Debt Investment Fund Ltd. opinion handed down by the United States District Court for the Western District of Washington in March of this year.  The prior blog post focused on the Court’s holding that distressed loan investors are not “financial institutions” and therefore, cannot exercise rights and remedies under a loan …

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Drinker Biddle & Reath LLP

  Quiznos, the toasted sandwich chain based out of Denver, CO, filed for prepackaged bankruptcy protection within days of Sbarro. The company foresees this restructuring cutting $400 million of debt.  In its bankruptcy protection the company listed liabilities between $500 million and $1 billion. In recent years, Quiznos has faced stiff competition from long-time rivals such …

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