Sears was lucky to receive the green light on a $5.2 billion plan, proposed by Sears chairman and biggest shareholder, Eddie Lampert. This restructuring plan is meant to give Sears a second chance on life and hopefully keep the historical, retail business alive and kicking. Experienced bankruptcy lawyers agree this is a bold plan to …
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The San-Francisco-based company PG&E is set to reorganize under a Chapter 11 Bankruptcy filing, due to the potential liabilities of over $30 billion caused by the wildfires. The sheer magnitude of this filing means the company will have to work very closely with a team of skilled bankruptcy attorneys to ensure the optimal outcome. How …
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Over 265 young women have come forward with sexual misconduct allegations against Larry Nassar, former USA Gymnastics national team osteopathic physician. Hundreds of lawsuits have been filed by these women, claiming Nassar sexually abused them while under the pretense of providing medical treatment. When Did The Allegations Begin? The first public statements were made back …
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The nation’s leading wedding retailer is considering a marriage of its own – a marriage to bankruptcy. Online Shopping Continues to Hurt Retailers Like many other retailers who struggled to innovate in the digital age, David’s Bridal has seen its business slowing down in recent years as more brides order dresses from online companies, companies …
Over a dozen major retailers have filed for bankruptcy so far in 2018, closing down the majority of their stores, if not all of them. These retailers include clothing chains, department stores, and shoe stores that will likely be household names for you if you grew up in the era of mall shopping. Not surprisingly, …
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The CEO of Sears Holdings Corporation – best known to the public as Sears – has a plan to save his retail chain from bankruptcy. The controversial plan will require the help of highly skilled bankruptcy attorneys to ensure it goes smoothly. Why is the Bankruptcy Plan Controversial? The potential controversy stems from the fact …
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According to the Lucky Dragon developers, the Lucky Dragon is worth $143 million. However, the lender begs to differ, reporting that the un-successful hotel-casino is worth less than half of that and isn’t earning nearly enough revenue to cover its operating costs—much less its loans. Devaluing After A Series of Financial Issues Lucky Dragon developers …
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Caesar’s recently awarded its Chief Executive Officer, Mark Frissora, $29.4 million in compensation for 2017, which is the year the hotel-casino emerged from Chapter 11 Bankruptcy. Post Bankruptcy Earning The $29.4 million breaks down, roughly, as follows: $2 million for a base salary, $4.5 million as a cash bonus, $16.5 million in retention-restricted stock, $6 …
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If you grew up with Geoffrey the Giraffe and the dream of being a Toys R Us Kid forever, it is now time to put your childhood fantasy to bed. Or, more accurately: close down your nostalgic dream. After an unsuccessful Chapter 11 bankruptcy, the retailer is closing its doors for good. Toys R Us …
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Prior to its scheduled foreclosure auction, the Lucky Dragon Casino, just off the Strip, has filed for Chapter 11 Bankruptcy. Why Are they Filing Chapter 11 Bankruptcy in Las Vegas? The Lucky Dragon opened in 2016, and its primary focus was to attract baccarat clients — a strategy which may have contributed to its lack …
