What the Pros Say (Week of 12/11/16)


  • Ignoring the podcast host's painful lack of charisma, Pachulski's Jeffrey Pomerantz provides an intriguing interview about the state of retail; he discusses macroeconomic trends, e-commerce trends, and the pros/cons of selling a retail asset pursuant to 363 or a plan (i.e., net operating loss benefits); he also draws on experience from Radio Shack, Wet Seal, Pac Sun and Delia's. Finally, he indicates that "there are rumors that Dick's Sporting Goods has hired Houlihan Lokey to pursue restructuring alternatives" and highlights Sears, Forever 21 and Claire's Stores as potential near term bankruptcy candidates. He forgot to mention J. Crew

Jones Day LLP has a lot to say...

  • 2017. Deloitte CRG's Kirk Blair predicts restructuring activity in...wait for it...energy, shipping and retail. Really going out on a limb.
  • Aeropostale. Jones Day LLP's Brad Erens summarizes the stinging defeat the company took in its efforts to equitably subordinate and/or recharacterize Sycamore Partners' claims (and limit credit bidding rights).
  • Avoidance Actions. A limited expansion of the lookback period as noted by Jones Day LLP's Amanda Parra Criste.
  • Chapter 15. Verle Roovers of Jones Day LLP provides an analysis of recent Chapter 15 precedent (Sanjel).
  • Consumer Privacy. John Drennan of Baker Donelson discusses a critical issue.
  • Equitable Mootness. G. Christopher Meyer of Squire Patton Boggs (US) LLP discusses the doctrine in the context of Detroit's Chapter 9 appeal (spoiler alert: still equitably moot).
  • Indenture Trustee Standing. Andrew Silfen, Leah Eisenberg, Jeffrey Rothleder and Jordana Renert of Arent Fox LLP collaborated on a summary of a recent NY Supreme Court decision.
  • Jevic - Structured Dismissals. Mark Salzberg from Squire Pattong Boggs LLP discusses the SCOTUS deliberations.
  • Makewhole. Simpson Thatcher is a little late to the EFIH-summary party but this is a solid memorandum by John Lobrano, Sandy Qusba, Elisha Graff and Morris Massel discussing the recent 3rd Circuit decision. As is Arent Fox LLP's summary by Andrew Silfen, Jeffrey Rothleder and Beth Brownstein here.
  • Midstream Contracts. Kathryn Coleman and Anson Frelinghuysen of Hughes Hubbard & Reed LLP provide a summary of the March SDNY decision in Sabine that still rankles Judge Jones in Texas to this day.
  • Restaurants. Edward Neiger of ASK LLP summarizes a few of the recent casual restaurant filings. We have also covered this space in here.