Judge Sends JC Penney, Noteholders Into Talks

By Rick Archer (September 15, 2020, 8:22 PM EDT) -- The Texas bankruptcy judge overseeing J.C. Penney's Chapter 11 case has ordered the retail chain and two noteholder groups into a settlement conference, saying he is concerned that progress on the case is slowing down.

In a one-page order Monday, U.S. Bankruptcy Judge David Jones sent J.C. Penney, an ad hoc group of first-lien noteholders and a second, minority group of first-lien noteholders into a Tuesday confidential settlement conference before U.S. Bankruptcy Judge Marvin Isgur.

"The court is concerned that progress in the case has slowed," he said.

Last week, mall owners Simon Property Group and Brookfield Property Partners cemented an...

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