Key Takeaways - The U.S. Bankruptcy Court for the Eastern District of Virginia recently published a critical opinion in a high profile dispute between Toys “R” Us’ creditors and some of the officers and directors of the...more
AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more
Industry News - Archdiocese of Santa Fe's bankruptcy case plods along... The Purdue Bankruptcy Didn’t Work...more
There were several notable trademark cases in Canada in 2020, including those addressing comparative advertising, depreciation of goodwill, brand parody, trademark ‘use’ in the absence of a brick-and-mortar location, and...more
The Federal Court of Canada (the “FCTD“) recently released Toys “R” Us (Canada) Ltd v Herbs “R” Us Wellness Society, in which it considered whether a cannabis company, Herbs “R” Us Wellness Society (“Herbs R Us“), had...more
Section 365(f) of the Bankruptcy Code allows the assignment of leases and executory contracts notwithstanding any provision in the contract or the applicable law that “prohibits, restricts, or conditions the assignment….” So,...more
Successful Chapter 11s for retailers have become few and far between. Sears, Toys "R" Us, Barneys New York, Forever 21, Coldwater Creek, Fred's, Fairway and A&P are just a few examples of recent retail disasters... ...more
Restructurings and uncertainty are hitting the US consumer sector. Retail M&A deal volume dropped 11 percent year-on-year to 459 deals, while deal value dropped 36 percent to US$76.87 billion. Consumer M&A activity...more
The last several years have been treacherous for the retail sector. Changing shopping patterns and shifting demographics have led some commentators to declare that the (retail) apocalypse is upon us. ...more
Good news for the country’s biggest banks, as the Fed confirmed on Friday that all “could weather an extreme market shock—including double-digit unemployment and a 50% U.S. stocks decline—and still have enough capital to...more
Digital disruption and its impact on physical retailers once again weighed on the consumer sector in 2018. Consumer M&A volume was down 13 percent year-on-year to 465 deals in 2018. Value decreased 28 percent to US$119...more
Federal prosecutors are reportedly weighing the allegations that Amazon chief Jeff Bezos has levied against Enquirer-parent American Media Inc., which, if found to have broken any law, “would be in violation of a deal with...more
This year marks the first Christmas in modern memory without Toys "R" Us, Inc. The loss of the international toy seller leaves billions of dollars in toy sales up for grabs, and its slow and steady decline may serve as a...more
Farrell Fritz Attorney Patrick Collins was quoted in this Long Island Business News Article. The parade of retailers filing for bankruptcy marches on as consumer shopping habits continue to evolve and e-commerce keeps...more
Fair Isaac Corp., creator of the “widely used FICO credit score,” unveiled plans to “roll out a new scoring system in early 2019 that factors in how consumers manage the cash in their checking, savings and money-market...more
The failure of Toys ‘R Us to successfully reorganize in Chapter 11 sent shockwaves throughout the retail world and the restructuring community. Saddled with unsustainable debt and unable to chart a viable path forward, the...more
Amazon announced yesterday that it will immediately raise the minimum wage it pays to all 250,000 of its employees (and the 100k it plans to hire for the holiday season) to at least $15/hour, more than double the current...more
A lot of the furor over Elon Musk’s recent “going private” tweets has centered on whether he actually had the financial backing needed to pull it off. The Times sets aside that initial inquiry to explore the why and how,...more
As the Toys “R” Us (TRU) bankruptcy case here in the Eastern District of Virginia Bankruptcy Court, Richmond Division, continues with the wind down of the company, new procedures have been implemented regarding when and how...more
Major retailers that once reigned supreme with brick and mortar stores now face unparalleled challenges. Historically, major retailers dominated the retail industry by opening stores in the most desirable locations and...more
Chalk one up for big Carl (and Darwin). Xerox announced this weekend that it’s bowing to Icahn’s pressures and ending its $6.1 billion combination with Fuji....more
Toys “R” Us filed for bankruptcy in September 2017, with hopes that a strong holiday season would facilitate a successful reorganization. ...more
Just days after profiled Walmart’s efforts to keep pace with Amazon in the grocery biz, a whistleblower and former WM director of business development is accusing Walmart of issuing “misleading e-commerce results” and...more
No US? No big deal. At least when it comes to the once-and-future TPP pact, which Japan, Canada, Australia, and 8 other US allies signed yesterday in Santiago, Chile....more
Heath insurance behemoth Cigna has agreed to buy Express Scripts—a “pharmacy benefits manger”—for $67 billion in cash and stock, including assuming $15 billion of its debt. The merger is one of a series of big moves in the...more