Category Archives: Bankruptcy & Creditor’s Rights

Subscribe to Bankruptcy & Creditor’s Rights RSS Feed

Another Sports Retailer Bankruptcy – Golfsmith International, Inc. Files for Chapter 11 Protection in Delaware

Posted in Bankruptcy & Creditor's Rights, Commercial, Retail & Industrial Real Estate, Real Estate

Golfsmith International, Inc., a specialty golf retailer with 109 Golfsmith stores across the U.S. and 55 Golf Town stores in Canada, filed for Chapter 11 bankruptcy protection in Wilmington, Delaware on Wednesday, September 14, 2016. This case follows other large sports retailer bankruptcy cases, including Sports Authority and Eastern Mountain Sports, who both filed Chapter… Continue Reading

Shipping Giant Hanjin Files International Bankruptcy Proceeding In Newark

Posted in Bankruptcy & Creditor's Rights

Last week, South Korea’s Hanjin Shipping Company (“Hanjin”) filed for bankruptcy protection under the Debtor Rehabilitation and Bankruptcy Act in the Seoul Central District Court in South Korea. As the world’s seventh largest container shipper servicing 8% of the Trans-Pacific trade in the United States, Hanjin’s bankruptcy filing is cause for concern for landlord retail… Continue Reading

PacSun Files for Chapter 11 protection in Delaware – Next Batch of Expected Retail Chapter 11 Bankruptcy Filings

Posted in Bankruptcy & Creditor's Rights

On the heels of the Joyce Leslie and Sports Authority Chapter 11 bankruptcy filings, another retailer just filed for Chapter 11 bankruptcy protection, and it appears that two (2) more retailers are preparing to file to reorganize. PacSun, more formally known as Pacific Sunwear of California, Inc., just filed for Chapter 11 bankruptcy protection this… Continue Reading

NJ Federal Court Says Condo Association Lien May Have Priority in Chapter 13 Bankruptcy Plan

Posted in Bankruptcy & Creditor's Rights, Community Associations

Timothy Duggan, Esquire and Chris Florio, Esquire of Stark & Stark, as Amicus Curiae (friend of the Court), were successful in convincing the United States District Court for the District of New Jersey to reverse a bankruptcy court decision, which allowed a bankruptcy condominium owner to avoid paying a condominium lien in full under a bankruptcy plan. The Condominium Association Institute… Continue Reading

Sports Authority Files for Chapter 11 Bankruptcy in Delaware

Posted in Bankruptcy & Creditor's Rights

This morning, Sports Authority, Inc. (“Sports Authority”) filed for Chapter 11 bankruptcy protection in the United States District of Delaware, Bankruptcy Court, case # 16-10529. The retailer with more than 450 stores is expected to close about 140 locations within the bankruptcy proceeding. Sports Authority was once the biggest sporting-goods chain in the U.S., but… Continue Reading

Sports Authority Looks to be the Next Big Tenant Chapter 11 Bankruptcy Filing

Posted in Bankruptcy & Creditor's Rights, Business & Corporate

Sports Authority, Inc. (“Sports Authority”) appears to likely be the next big tenant Chapter 11 bankruptcy filing. Recent reports are indicating that the sporting and apparel chain is preparing to file for Chapter 11 bankruptcy protection, as debt payments are due in 10 days, according news reports from Bloomberg Business and other outlets. Of its 450 stores,Bloomberg reports… Continue Reading

Fresh & Easy, LLC Files for Chapter 11 in Delaware – Another Grocery Store Bankruptcy

Posted in Bankruptcy & Creditor's Rights, Commercial, Retail & Industrial Real Estate

The healthy but affordable grocery store chain, Fresh & Easy, filed for Chapter 11 bankruptcy protection in Wilmington, Delaware on Friday. The chain operates 97 stores in Arizona, California and Nevada. This, like the recent Great Atlantic & Pacific Tea Co. (“A&P”) bankruptcy case, is the company’s second Chapter 11 filing in recent years. Bankruptcy… Continue Reading

Radio Shack Creditors Preferred? – Not If New Value Was Provided

Posted in Bankruptcy & Creditor's Rights

On October 29th, the the liquidating trustee of the Radio Shack liquidating trust filed lawsuits in the United States Bankruptcy Court for the District of Delaware seeking to claw back “preferential” payments made by Radio Shack to its creditors. These payments were made within the 90 days of its bankruptcy filing on February 15, 2015…. Continue Reading

Radio Shack Preference Lawsuit – Ordinary Course Defense

Posted in Bankruptcy & Creditor's Rights

During the last week of October, the liquidating trustee of the Radio Shack liquidating trust filed lawsuits in the United States Bankruptcy Court for the District of Delaware. The lawsuits were seeking to avoid “preferential” payments made by Radio Shack to its creditors within 90 days of the filing of its bankruptcy petition (the “Preference… Continue Reading