United Retail Landlords Balk At Proposed Sale

Law360, New York (March 19, 2012, 7:16 PM EDT) -- The landlords of properties leased to women's clothing retailer United Retail Group Inc. objected Friday to a proposed deal with stalking horse bidder Versa Capital Management, demanding that the stores continue to comply with the obligations in their leases before a buyout is approved.

The landlords, who are all the owners or managing agents of shopping centers throughout the U.S., argue that the proposed cure amounts underestimate the amounts owed to the landlords by up to $21,000 per location, plus attorneys' fees.

They claim that they...
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