January 22, 2024
A Delaware bankruptcy judge on Monday approved Pennsylvania Real Estate Investment Trust's plan to swap $727 million in debt for equity after stripping out the release of unimpaired creditors' claims against nondebtor third parties.
January 17, 2024
The Office of the U.S. Trustee has objected to the proposed Chapter 11 plan of mall owner Pennsylvania Real Estate Investment Trust, telling a Delaware bankruptcy court that the plan's exculpation and release provisions go too far.
December 12, 2023
Bankrupt Philadelphia mall owner Pennsylvania Real Estate Investment Trust got court approval Tuesday to spend up to half of a proposed $60 million bankruptcy loan to kick off its Chapter 11 restructuring, overcoming an objection from a federal bankruptcy watchdog that releases in the financing plan were too broad.