The litigation over the State of Illinois trying to borrow its way out of its financial problems is back on, after the appeals court reverses a lower court judge.
https://www.wsj.com/articles/litigation-against-illinois-debt-payments-can-continue-appeals-court-rules-11596746386?shareToken=st83058d05cb1647dc8fff0dafa6b37a8e
WSJ.COM
Challenge to $14 Billion in Illinois Debt Revived
More retail leases being torn up. Will commercial landlords be the next shoe to drop?
https://www.npr.org/sections/coronavirus-live-updates/2020/08/03/898542688/unsuitable-for-a-pandemic-add-mens-wearhouse-jos-a-bank-to-bankruptcy-list
NPR.ORG
Unsuitable For A Pandemic? Add Men's Wearhouse, Jos. A. Bank To Bankruptcy List
This is a common question, and this article has some good advice.
https://smallbiztrends.com/2020/07/loans-after-bankruptcy.html
SMALLBIZTRENDS.COM
Can I Get Business Loans After Bankruptcy? - Small Business Trends
Anyone want to buy 500,000 used cars? You would think that would flood the used car market, and if you are thinking about buying a used car anytime soon you may want to wait a few months.
https://www.bloomberg.com/news/articles/2020-07-01/hertz-creditors-in-11-billion-standoff-over-494-000-used-cars
BLOOMBERG.COM
Hertz, Creditors in $11 Billion Standoff Over 494,000 Used Cars
Mexico has chosen not to bailout its airline industry, which is crucial in Latin America due to lack of good roads. We'll see how that choice plays out.
https://finance.yahoo.com/news/aeromexico-files-chapter-11-bankruptcy-235404510.html
FINANCE.YAHOO.COM
Aeromexico Files for Ch. 11 Bankruptcy Protection in U.S.
The original hotzone for kids' colds, not a good selling point in today's environment
https://www.cnbc.com/2020/06/25/chuck-e-cheese-parent-files-for-chapter-11-bankruptcy.html
CNBC.COM
Chuck E. Cheese parent files for Chapter 11 bankruptcy
Best name for a trade publication: "Good Beer Hunting". But seriously, how am I supposed to get my trappist monk ale to get through quarantine?
https://www.eatthis.com/shelton-brothers-beer-importer-shutting-down/
EATTHIS.COM
This Devastating Bankruptcy May Cause a Shortage of Your Favorite Beer
I’ve seen and heard some strange things in virtual hearings, but this is the funniest
https://youtu.be/Pdajs2qbW7k
YOUTUBE.COM
Texas Attorney Struggles To Remove Cat Filter During Zoom Court Hearing
"There are no bad pizzas, some are just better than others" -- other than Cici's, which really IS bad pizza.
https://www.nrn.com/finance/cici-s-holdings-files-chapter-11-bankruptcy-protection
NRN.COM
Cici’s Holdings files for Chapter 11 bankruptcy protection
Here are my thoughts/comments/predictions:
1. The “reorganization” will be a Section 363 sale to a newly formed Texas not for profit entity. The new entity will cherry pick the assets out of the old NRA, such as the name and member list at auction.
The danger to the “new” NRA will be the lawsuit claimants outbidding them (like the Gawker case), Former NRA management will still be open to lawsuits by a Dallas trustee or liquidating trust.
2. Why choose the Dallas court, rather than the Houston court which has been preferred lately? Why not file the case in Richmond, which has also become popular. Venue shopping is alive and well.
3. The “new” NRA will pick and choose which old debts it pays, and which ones will have to line up for possible payment years from now. If you are an old vendor and want to get paid, you will have to do whatever “new” NRA says, such as sign an NDA and give them open account credit.
https://www.usatoday.com/story/money/2021/01/15/nra-bankruptcy-national-rifle-association-files-chapter-11/4182011001/
USATODAY.COM
National Rifle Association, at center of heated national gun debate, files for Chapter 11 bankruptcy protection
Regardless of your opinion of the outgoing administration, I give them credit for the new small business bankruptcy law which went into effect in February helping us to save Central Illinois businesses (and jobs).
https://fortune.com/2020/11/24/bankruptcy-covid-economy-small-business/
FORTUNE.COM
Pandemic fallout is about to overwhelm the bankruptcy system and hit small businesses hardest