Bankruptcy and Creditors' Rights

Scarinci Hollenbeck’s Bankruptcy and Creditors' Rights practice group regularly provides content on the turmoil surrounding financially troubled and bankrupt companies. Our content provides insight on financial institutions, corporations, insurance companies, leasing and finance companies and other organizations and business entities interested in preserving and enforcing their rights as creditors.

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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Bankruptcy Filings Fall, Chapter 11 Filings Rise Compared to April 2019

The American Bankruptcy Institute reports that the government’s measures in April appear to have helped individual citizens avoid bankruptcy… The American Bankruptcy Institute reports that the government’s measures in April appear, for now, to have helped individual citizens avoid bankruptcy. Note, however, the rise in commercial Ch. 11 filings – both year-over-year and month-on-month. Total […]

Author: Joel R. Glucksman

May 7, 2020

COVID-19

5 Reasons the Retail Industry is Declining

It’s no surprise that 2017 isn’t a great year for the retail industry. According to Business Insider, several well-known retailer It’s no surprise that 2017 isn’t a great year for the retail industry. According to Business Insider, several well-known retailers, including Payless Shoe Source, The Limited and RadioShack, have gone bankrupt since the beginning of the year […]

Author: Joel R. Glucksman

June 2, 2017

IT Firm Ciber Inc. files for Chapter 11 Bankruptcy

Information technology consulting firm Ciber Inc. filed for Chapter 11 bankruptcy April 9, 2017, according to The Wall Street Journal. The company took a buyout offer of $50 million for its North American and India assets from France’s Capgemini. The bankruptcy filing is an effort to begin the intended process to make room for the sale […]

Author: Joel R. Glucksman

May 30, 2017

Puerto Rico Officially Files For Bankruptcy

After careful consideration, the Caribbean island of Puerto Rico officially filed for the equivalent of bankruptcy May 3, 2017. According to USA Today, this decision will likely spark a “fierce legal battle” as it may put Puerto Rico’s citizens, creditors and workers in jeopardy. Restructuring to eliminate debt After years of talking with bondholders and […]

Author: Joel R. Glucksman

May 23, 2017

Scarinci Hollenbeck

Gander Mountain Co. files for Chapter 11 Bankruptcy

Outdoor gear retailer Gander Mountain Co. filed for Chapter 11 bankruptcy protection as of March 11, 2017. This company is among many other sporting goods and fashion retailers who have also declined in sales in past years, likely due to a shift in shopping patterns. More people are interested in online shopping than heading out […]

Author: Joel R. Glucksman

May 16, 2017

RadioShack Files For Chapter 11 Bankruptcy Again

General Wireless Operations Inc., best known as wireless and electronic store chain RadioShack, filed for Chapter 11 bankruptcy for the second time on March 8, 2017. The Fort Worth, a Texas-based company first filed for protection in 2015, which led to the reorganization of business and the closing of nearly 2,400 of its stores, according […]

Author: Joel R. Glucksman

May 11, 2017

Third Circuit Ruling Affects Right to Discharge Tax Claims

Third Circuit Strips Taxpayers of Right to Discharge Tax Claims in Bankruptcy One of the great powers of bankruptcy law is the ability to achieve a “fresh start” – that is, to use the bankruptcy process to wipe away or to “discharge” one’s debts, so that the bankrupt may start over with a clean financial slate. […]

Author: Joel R. Glucksman

May 9, 2017

Payless Inc Files for Chapter 11 Bankruptcy

The rumors that predicted Payless ShoeSource would go bankrupt in the near future are true: the major shoe retailer officially filed for Chapter 11 bankruptcy protection on April 4, 2017. However, this footwear business isn’t alone. According to CNBC, the number of retailers filing for protection is on its way to reaching the highest since the […]

Author: Joel R. Glucksman

May 9, 2017

What Can You Learn From Lansaw v Zokaites?

Abusive Landlord Hit With Emotional Distress and Punitive Damage Award By Bankruptcy Court A recent decision by the Third Circuit should serve as a clear warning to overly-aggressive landlords who are dealing with bankrupt tenants. In Lansaw v Zokaites (In re Lansaw), 2017 U.S. App. Lexis 6121 (3d Cir. 2017), the appellate court affirmed awards of […]

Author: Joel R. Glucksman

April 28, 2017

What the Grand Cache Coal Bankruptcy Reveals About the Coal Industry

Grand Cache Coal, a major Chinese-owned coal company in Grande Cache, Canada is bankrupt, Calgary Herald reported. The company had originally planned to reopen in the early months of 2017, but its bankruptcy has put those plans on hold. It recently sent town residents a letter saying that it was going into receivership. This would allow […]

Author: Joel R. Glucksman

April 4, 2017

China

Gordmans Stores Inc. Files for Chapter 11 Bankruptcy

Gordmans, a chain of Midwestern discounted department stores, filed for Chapter 11 bankruptcy March 13, 2017. It continues a trend other major department store chains are familiar with, and internet shopping is likely to blame. Another department store bites the dust According to Bloomberg Markets, Gordmans Stores Inc. plans to liquidate all of its stores. […]

Author: Joel R. Glucksman

March 28, 2017

Payless Inc. Expected to File for Bankruptcy

Retailer Payless Shoesource is expected to file for bankruptcy in the near future, according to Bloomberg News. Retailer Payless Shoesource is expected to file for bankruptcy in the near future, according to Bloomberg News. Although not yet publicly acknowledged, the company is rumored to be planning to close around 500 of its stores as a method of […]

Author: Joel R. Glucksman

March 18, 2017

Scarinci Hollenbeck

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