Landlords Call Circuit City Bid Procedures Unfair

Law360, New York (February 12, 2009, 12:00 AM EST) -- Landlords holding leases on Circuit City Stores Inc. outlets have filed a raft of objections to the liquidation plan the company filed in January, arguing that several of the plan's provisions set the bar for the landlords' participation in the auction process too high and do not allow them to reject unwanted tenants.

Judge Kevin R. Heunnekens of the U.S. Bankruptcy Court for the Eastern District of Virginia will hold a hearing Friday on the various objections to Circuit City's liquidation plans. Many of the objections...
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