Thomas S. Onder

1 month ago | natlawreview.com | Thomas S. Onder |Joseph H. Lemkin |Alan L. Friel |Julia Jacobson

Rite Aid Corporation filed a Chapter 11 bankruptcy petition for the second time in two (2) years in the District of New Jersey Bankruptcy Court, docket #25-14731 (MBK) on May 5, 2025. A repeat filing like this is often referred to as a “Chapter 22” – two (2) Chapter 11 filings in a row. The company issued a press release that noted it was pursuing a sale process, which it intends to conduct under section 363 of the U.S. Bankruptcy Code.

Feb 6, 2025 | jdsupra.com | Thomas S. Onder

During a retail bankruptcy, commercial landlords often face challenges when their tenants try to maximize the value of the bankrupt estate by holding lease auctions. Despite lease provisions that may restrict or prohibit a lease sale, courts have generally allowed retail debtors to conduct such sales. This is because lease clauses that attempt to limit or prohibit a lease sale are often disregarded as “ipso facto” clauses, which are unenforceable in bankruptcy.

Feb 4, 2025 | natlawreview.com | Thomas S. Onder

During a retail bankruptcy, commercial landlords often face challenges when their tenants try to maximize the value of the bankrupt estate by holding lease auctions. Despite lease provisions that may restrict or prohibit a lease sale, courts have generally allowed retail debtors to conduct such sales. This is because lease clauses that attempt to limit or prohibit a lease sale are often disregarded as “ipso facto” clauses, which are unenforceable in bankruptcy.

Nov 5, 2024 | jdsupra.com | Thomas S. Onder

Dallas-based TGI Friday’s, which started in Manhattan in 1965 and was one of the first chains to capitalize on the “happy hour” concept, filed for Chapter 11 bankruptcy protection on Saturday in the Northern District of Texas, docket 24-80069.

Nov 4, 2024 | natlawreview.com | Thomas S. Onder

Dallas-based TGI Friday’s, which started in Manhattan in 1965 and was one of the first chains to capitalize on the “happy hour” concept, filed for Chapter 11 bankruptcy protection on Saturday in the Northern District of Texas, docket 24-80069.