Starting on October 8, 2020, Kmart Holding Corporation, Sears, Roebuck & Co. and other affiliated debtors of Sears Holdings Corporation (“Debtors“) collectively filed over 400 complaints in the United States Bankruptcy Court for the Southern District of New York, seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547,
A Primer on Defenses to Bankruptcy Preference Claims
Your business provided goods or services to another company. Shortly thereafter, that company then files for bankruptcy, and owes your business substantial sums of money. After the filing of the bankruptcy action, you then receive a letter from counsel demanding that your business return all of the money the debtor paid to you in the
Local Rules of the Delaware Bankruptcy Court – Comment Period
The Delaware Bankruptcy Court issued a notice stating that the comment period for its Local Rules is currently open. Per the notice, the comment period is open from October 1 through October 30, 2020.
A current version of the Local Rules of the Delaware Bankruptcy Court, effective February 1, 2020, can be found here.
Top Five Tips for Commercial Landlords Dealing with a Tenant in Bankruptcy
There has been no shortage of significant bankruptcy filings in 2020 as a result of the ongoing pandemic. Large companies such as J.C. Penney, Brooks Brothers, Lucky Brand, GNC, subsidiaries of Regus, and others, have all filed for bankruptcy protection, citing the coronavirus for sharply reduced sales at their brick and mortar stores.
These filings
Delaware Bankruptcy Court Issues Order Setting Bar Dates in Subchapter V Cases
The United States Bankruptcy Court for the District of Delaware issued an Order establishing Bar Dates for filing proofs of claim in Subchapter V Cases. The Bar Dates are set at the filing of the case for creditors and governmental units. The Bar Dates are 60 days and 180 days, respectively from the date of
Delaware District Court and Bankruptcy Court Move to Phase 2
On September 1, 2020, the United States District Court for the District of Delaware issued a Standing Order Re: Criminal and Civil Jury Selections; Jury Trial; and Transition to Phase 2. Per the Standing Order, the Delaware District Court will move into Phase 2 starting September 15, 2020, which permits the District Court to
RGN Bankruptcy Update; Debtors Move to Reject Commercial Lease
As reflected in the prior post, RGN Group Holdings, LLC, and various of its affiliates (“RGN” or the “Debtors”), which are subsidiaries of Regus, have filed for bankruptcy. As part of the first-day motions filed by the Debtors, RGN sought approval of proposed termination notification procedures, through its Motion to Approve Interim and Final
RGN Group Holdings Files for Chapter 11 Protection in Delaware; Seeks Approval of Lease Termination Notification Procedures
RGN Group Holdings LLC, and certain of its affiliates (“RGN” or the “Debtors”) filed voluntary Chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the District of Delaware on August 17, 2020.
According to court filings, the Debtors are subsidiaries of Regus Corporation, a Delaware corporation that, together with its affiliates offers a
Arandell Holdings, Inc. Files for Chapter 11 Relief in Delaware
Arandell Holdings, Inc. and its affiliated debtors (“Arandell” or the “Debtors”), a catalog printing services company, recently filed for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware.
According to the Declaration of Bradley J. Hoffman in Support of the Chapter 11 Petitions and First Day Motions
Delaware Bankruptcy Court Directs Parties to Refrain from Serving Paper Copies of Pleadings
Today, the United States Bankruptcy Court for the District of Delaware issued an Order Regarding Service Pursuant to Del. Bankr. L.R. 5005-4 and 9036-1, which directs parties not to serve hard copies of documents that are filed through the CM/ECF system. Citing the restrictions imposed by the pandemic and restricted access to regular places of