Insights on Acquirers & Investors

This analysis will help retailers, creditors, vendors, and opportunistic investors who are poised to take advantage of the recent trend in bankruptcy cases.

In this episode of Fashion Counsel, Anthony Lupo and Aram Ordubegian discuss the different routes a struggling retailer can take when facing bankruptcy.

Chief Judge Leonard P. Stark of the District Court for the District of Delaware reversed and remanded the decision of the Bankruptcy Court which approved a Bankruptcy Rule 9019 settlement that Judge Stark concluded had been inadequately noticed under the circumstances.

Sovereign Assets Ltd. (SAL), a real estate firm based in Israel, was unable to service its debt obligations and was placed into liquidation proceedings in Israel. Two administrators, who had been appointed to liquidate the company in Israel, commenced Chapter 15 proceeding.

This case presents a common scenario and dynamic that a party involved with a distressed bank holding company may have seen in the last several years.

The Third Circuit agreed with the Bankruptcy Courts finding that the proposed releases were not adequately disclosed to the bondholders as required by Bankruptcy Rule 3016(c), and therefore would not be approved.

On June 26th, Arent Fox managing partner Andrew Silfen will be a moderator for the panel entitled, “Views on the Bench” at the 11th Annual Philadelphia Credit & Restructuring Summit 2018.