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.
Family Trust Share Buyout Spurred Prison Phone Co.'s Ch. 11
A bid by a holding company for Smart Communications to scoop up a family trust's ownership interest resulted in a court-ordered payment of approximately $42 million and led the prison phone company to seek Chapter 11 protection.
Bankruptcy Bill Brings Long-Awaited Ch. 7 Trustee Fee Boost
A bill that passed both chambers of Congress would permanently increase Chapter 7 trustees' fixed per-case fees for the first time since 1994, a much-anticipated and needed change, bankruptcy experts told Law360.
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.
Family Trust Share Buyout Spurred Prison Phone Co.'s Ch. 11
A bid by a holding company for Smart Communications to scoop up a family trust's ownership interest resulted in a court-ordered payment of approximately $42 million and led the prison phone company to seek Chapter 11 protection.
Bankruptcy Bill Brings Long-Awaited Ch. 7 Trustee Fee Boost
A bill that passed both chambers of Congress would permanently increase Chapter 7 trustees' fixed per-case fees for the first time since 1994, a much-anticipated and needed change, bankruptcy experts told Law360.
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