Category Archives: Bankruptcy & Creditor’s Rights

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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

Trade Creditors Protect Yourselves: RadioShack Filing Bankruptcy Preference Complaints

Posted in Bankruptcy & Creditor's Rights

In the last few days, hundreds of bankruptcy complaints against trade creditors were filed by bankrupt Chapter 11 debtor RadioShack. The crux of the complaints concern “preferences” requesting the return of money received from bankrupt debtors prior to the bankruptcy filing for goods or services sold. However, before you or your business start writing a… Continue Reading

Bankruptcy Considerations in Collection Actions

Posted in Bankruptcy & Creditor's Rights, Collections

Understanding what can occur during a collection action can be vital in determining which accounts to pursue. One common occurrence is that a debtor files for bankruptcy. There are two (2) types of consumer bankruptcy filings that may likely be encountered during a collection action. The first is a Chapter 7 Liquidation, meaning that the… Continue Reading

Amendment to the New Jersey Uniform Commercial Code

Posted in Bankruptcy & Creditor's Rights, Business & Corporate, Collections, Stark News

The New Jersey Uniform Commercial Code (the “UCC”) was amended, effective May 11, 2015, imposing new requirements on the filing of a financing statement to perfect a security interest in collateral within the scope of Article 9 of the UCC. The amendment provides that in order to be sufficient, a financing statement must state that… Continue Reading