BED BATH & BEYOND FILES FOR CHAPTER 11 BANKRUPTCY IN THE UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY
Co-Authored by Courtney Schroeder On April 23, 2023, Bed Bath & Beyond Inc., et al., filed a voluntary petition for Chapter 11 bankruptcy under the United States Bankruptcy Code. The company was compelled to file after failing to secure funds to maintain operations. The home goods retailer based in Union, New Jersey filed for protection […]
Recent Third Circuit Decision Encourages 363 Sales
A recent opinion from the U.S. Court of Appeals for the Third Circuit could encourage debtors to resolve their Chapter 11 bankruptcies through 363 sales instead of a traditional reorganization plan. Section 363 of the bankruptcy code allows debtors to create an asset purchase agreement with the first proposed purchaser. A 363 sale, also called […]
House Passes “The Financial Institutional Bankruptcy Act of 2014”
This week, the House of Representatives passed “The Financial Institutional Bankruptcy Act of 2014,” a bill allowing financial institutions, and in some cases, the Federal Reserve, to voluntarily begin the bankruptcy process. The bill, co-sponsored by Rep. Spencer Bachus (R-Ala.), House Judiciary Committee Chairman Bob Goodlatte (R-Va.), and Ranking Member John Conyers (D-Mich.), was passed […]
FASB Issues New Standard Regarding Disclosures By Corporate Managers
The Financial Accounting Standards Board (FASB), responsible for establishing and improving financial accounting standards and reporting by non-governmental entities issued a new standard on Wednesday regarding disclosures by corporate managers. This new standard was issued an in effort to create uniform disclosure procedures by corporate managers upon finding substantial doubt about their organization’s ability to […]
Donald Campbell To Speak On “Preferences, Fraudulent Transfers, And Dischargeability Of Debts” – June 11, 2014
Donald F. Campbell, Jr. will be speaking on June 11, 2014 regarding “Preferences, Fraudulent Transfers, and Dischargeability of Debts.” Mr. Campbell will discuss, how Bankruptcy Trustee’s and Receivers institute avoidance actions against creditors and non-dischargeability complaints against debtors and explain how creditors and debtors can negotiate, defend and potentially avoid these legal actions all together. […]
Mexico Homebuilder Homex Files for Bankruptcy, Seeks Financing
Troubled Mexican homebuilder Homex has filed for bankruptcy after gaining the support of a majority of its creditors, Reuters reported yesterday. The company, which has struggled with a heavy debt load and slumping home sales, said that it was seeking additional financing during the bankruptcy proceedings. Mexican homebuilders have been hit hard since the government […]
Bankruptcy Court Rules Liability Under Prenuptial Agreement Non-Dischargeable, But No Legal Fees Incurred In Bankruptcy Proceedings
When entering into prenuptial agreements, parties should be aware that debts owed under such agreements are likely not dischargeable under the United States Bankruptcy Code (the “Code”), regardless of how carefully drafted. In DeStephano v. DeStephano (In re DeStephano), the New Jersey Bankruptcy Court determined that the debts owed by a former husband, DeStephano, under […]
Donald F. Campbell to Moderate Turnaround Management Association’s Bankruptcy Law Event
Donald F. Campbell, Esq. of Giordano, Halleran & Ciesla, will be the Moderator of a panel at “The Birdsall Bankruptcy: A Case Study in a Challenging and Multifaceted Insolvency Proceeding,” on April 8, 2014. For more information on this event please click here.
Quiznos Follows Sbarro To Bankruptcy Protection
Quiznos, the toasted sandwich chain based out of Denver, CO, filed for prepackaged bankruptcy protection within days of Sbarro. The company foresees this restructuring cutting $400 million of debt. In its bankruptcy protection the company listed liabilities between $500 million and $1 billion.
Sbarro Seeks Bankruptcy Protection
The New York based pizza chain, Sbarro LLC, has filed for bankruptcy protection for the second time in less than three years. Sbarro first filed for bankruptcy in April 2011 and emerged from Chapter 11 the following November. The chain’s financial struggles are attributed to too much debt and a significant decline in mall traffic.
keep looking »
Add Web Slice