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.
Saks Sheds Dark Store Leases To Save Cash, Shrink Footprint
When the parent company of luxury department store chain Saks Fifth Avenue filed for bankruptcy protection Wednesday, it also moved immediately to reject 26 leases for stores that have already closed, setting the debtor on a path to a smaller footprint, freeing up cash and potentially heading off a protracted showdown with the affected landlords, experts told Law360.
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.
Saks Sheds Dark Store Leases To Save Cash, Shrink Footprint
When the parent company of luxury department store chain Saks Fifth Avenue filed for bankruptcy protection Wednesday, it also moved immediately to reject 26 leases for stores that have already closed, setting the debtor on a path to a smaller footprint, freeing up cash and potentially heading off a protracted showdown with the affected landlords, experts told Law360.
Expert Analysis
The regulatory and litigation developments for California financial institutions in the fourth quarter of 2025 wer... (more story)
As automation and arbitration increase the volume of legal filings, in-house counsel must build scalable service o... (more story)
2026 will likely be shaped by issues ranging from artificial intelligence regulatory turbulence to potential evide... (more story)
Large Cap More
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.
A Delaware bankruptcy judge said Wednesday he would issue an oral ruling "in very short order" on telecommunications group Ligado Networks LLC's bid to stop litigation launched by Viasat unit Inmarsat Global L... (more story)
Sports gear and golf design company GBI Services received final approval for a $17 million Chapter 11 loan Wednesday in Delaware, with a judge there ruling the debtor can grant a lien in favor of the postpetit... (more story)
Attorneys for former crypto lender Genesis Global told a New York bankruptcy judge Wednesday that they're hoping for a quick resolution on pending lawsuits as they push to keep making digital asset distributions to creditors.
While a 100th anniversary is always cause for celebration, Cole Schotz PC reaching the milestone resonates especially strongly for a midsize firm succeeding at a time when a number of its peers have consolidat... (more story)
Mid Cap More
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)
A Delaware bankruptcy judge granted the wish of the California Attorney General's Office that a trustee be installed to oversee the Chapter 11 case of fundraising tech company Flipcause, after the debtor voiced assent.
A federal bankruptcy judge had pressing questions Wednesday about how many times the firm Calaiaro Valencik missed noticing that one of its attorneys had once represented a $32 million creditor for their clien... (more story)