Perfect Storm: Lessons For Distressed Retailers, Part I

Law360, New York (October 29, 2010, 3:43 PM EDT) -- In the approximately five years since the Bankruptcy Abuse Prevention and Consumer Protection Act’s amendments to the Bankruptcy Code took effect, one general consensus has emerged: the effects of BAPCPA on distressed retailers have been profound. The combination of a truncated timeline for dealing with leases, a limited ability to extend plan exclusivity, and expanded rights of vendors to assert administrative priority claims all work together to create a rushed process with very little room for error.

Independent of BAPCPA’s changes, the trend of some courts...
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