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Retail Without Borders

It seems every few weeks there is an announcement of another majo retailer filing chapter 11, including some iconic claims. Frequently, the insolvency involves cross-border aspects and retail operations in Canada. From the initial filing decision — is there a “full blown” or ancillary proceeding in Canada? — through to the end result, whether it be by way of plan or liquidation, there is the need to coordinate the cross-border proceedings. Debtor counsel, advisors and stakeholder counsel discuss some of these issues in the context of recent filings and whether a reorganization of a large retailer is even possible in today’s environment. We will consider the recent World Importers decision on § 503(b)(9) claims issued by the Third Circuit and the impact on debtors and the expanding scope of critical vendor orders to pay certain, but not all, of pre-petition suppliers.

2018 Cross-Border Insolvency Program
Bankruptcy Code: 
Bankruptcy Rules: 
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