BUSINESS RESTRUCTURING REVIEWVOL. 20 NO. 5 SEPTEMBEROCTOBER 2021IN THIS ISSUE1 Secured Lenders Credit Bid Right in Bankruptcy Sale Denied4 Structured Dismissal of Chapter 11 Cases Did Not Violate Jevic8 Work-for-Hire Film Production Agreement Not Executory Contract in Bankruptcy Due to Lack of Mutual Continuing Material Obligations12 Stalking Horse Bidder May Be Entitled to Administrative Priority…
MINNEAPOLIS–(BUSINESS WIRE)–Apogee Enterprises, Inc. (Nasdaq: APOG) today announced its fiscal 2022 second-quarter results. Second-quarter revenue grew 2.0 percent to $325.8 million, compared to $319.5 million in the second quarter of fiscal year 2021, led by growth in Architectural Services and Large-Scale Optical. The company reported a net loss of $(0.08) per diluted share, which included…
Alan J. Brody, a Restructuring & Bankruptcy shareholder in global law firm Greenberg Traurig, LLP’s New Jersey office, will co-chair the 2021 Turnaround Management Association (TMA) Mid-Atlantic Networking Summit on Sept. 23-24 at the Hard Rock Hotel & Casino in Atlantic City, NJ. The conference is the “premier event for the Mid-Atlantic region” and will…
NEW YORK, Sept. 20, 2021 /PRNewswire/ — Katten announced today that its Insolvency and Restructuring practice was honored by The M&A Advisor in five categories of the 15th annual Turnaround Awards, known as one of the restructuring and distressed investing industry’s benchmarks for excellence. Katten (PRNewsfoto/Katten) “Ours is a group of exceptionally talented attorneys with…
Shining a Light on Structured Dismissals This article provides a discussion of the June 9, 2021 decision In re KG Winddown, where U.S. Bankruptcy Judge Martin Glenn clarified some unresolved issues about structured dismissals in Chapter 11 bankruptcy cases that stemmed from the 2017 U.S. Supreme Court decision in Czyewski v. Jevic Holding. Navigating Preference…
Shares of Evergrande have plunged to over 11-year lows, extending losses as executives try to salvage its business prospects and as default fears grow over a looming deadline for payment obligations this week. Evergrande has been scrambling to raise funds to pay its many lenders, suppliers and investors, with regulators warning that its $US305 billion…
An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo HONG KONG, Sept 20 (Reuters) – Shares of Evergrande on Monday plunged to over 11-year lows, extending losses as executives try to salvage its business prospects and as default fears grow over a looming deadline for payment obligations…
William Je establishes a charity to help provide support to individuals and families as they relocate from Hong Kong to the UK LONDON, Sept. 20, 2021 /PRNewswire/ — One of the most distinguished names in Hong Kong, esteemed entrepreneur and philanthropist, Mr William Je, has embarked upon a quest to help many of those 5.4…
Telstra took the opportunity on Thursday to lay out its T25 future strategy as its approaches the end of its T22 strategy, which kicked off in 2018. “If T22 was a strategy of necessity, T25 is a strategy for growth,” Telstra CEO Andy Penn said. But one of the most significant changes to the company…
CWT, a company that arranges business travel and meetings that was hit hard by the pandemic, reached a restructuring agreement with creditors that would allow it to shed around $900 million of debt and receive an equity infusion from existing investors. The plan, which is being supported by holders of 90% of the companys debt,…