News & Analysis as of

Chapter 11 Shopping Centers

Kramer Levin Naftalis & Frankel LLP

District Court Bars Assignment by Sears, Provision in Lease Cannot Supersede §365(b)(3)(A)

In an opinion dated Feb. 27, 2020, Judge Colleen McMahon of the United States District Court for the Southern District of New York reversed the decision of the bankruptcy court that had granted Sears the right to assign its...more

Dechert LLP

Gerrymandering votes in bankruptcy?  The classification of an undersecured claim 

Dechert LLP on

Confirmation of a Chapter 11 plan generally requires the consent of each impaired class of creditors. A debtor can “cramdown” a plan over creditor dissent, however, as long as at least one class of impaired claims accepts the...more

Shumaker, Loop & Kendrick, LLP

Kmart Bankruptcy, Part Deux

It’s no secret that Kmart is facing another liquidity crisis. Just over ten years after Sears rescued the discount retailer from bankruptcy in 2006, the pioneer of the “blue light special” is destined for another, and...more

Pullman & Comley, LLC

Appellate Court Notes

Pullman & Comley, LLC on

Appellate Court Advance Release Opinions - AC36506 - Sidorova v. East Lyme Board of Education - Due to budget cuts, the Board of Education laid off the plaintiff who was a tenured French teacher. She sued for...more

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