In re Borders Group, Inc.

Order Authorizing Borders to Honor Certain Customer Programs (Including Gift Cards and Borders Rewards)

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Borders Group, Inc. filed for bankruptcy protection in New York last week. As part of its bankruptcy filing, it asked the bankruptcy court to allow it to honor certain obligations to customers, including its outstanding gift cards and its Borders Rewards program. The court entered this order on February 16, 2011 authorizing (but not directing) Borders and its affiliates to "continue their Customer Programs in the ordinary course of their business in the same manner and on the same basis as the Debtors implemented and maintained the same prior to the commencement of these chapter 11 cases and pay and honor all obligations thereunder whether arising prior to or after the Commencement Date."

For more information about the impact that bankruptcy filings have on retailers' outstanding gift cards, please see our blog posting on the topic: http://blog.ch11cases.com/2011/02/borders-gift-card-holders-dont-believe.html#axzz1EZtZ3JPI

To access more court filings from the Borders bankruptcy cases, please visit: http://www.chapter11cases.com/Borders-Group-Inc_c_22743.html#axzz1EZrjjydq

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Reference Info:Decision | Federal, 2nd Circuit, New York | United States


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Randall Reese, Restructuring Concepts LLC | Attorney Advertising

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