Category Archives: Bankruptcy & Creditor’s Rights

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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

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