J.C. Penney Lender Fight Shows Competing Bankruptcy Interests
October 28, 2020
“It’s an argument for whether you can sell outside the [Chapter 11] plan before minority lenders [arguably] have a chance to put their ducks in a row for their competing bid, which they’re telling the judge will bring more value to the table, or do it under a plan which [they argue] would give them more time and would ensure that the protections of the bankruptcy plan are satisfied,” said Patrick Collins, bankruptcy and restructuring partner at Farrell Fritz P.C., who is not involved in the case and spoke generally.
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