Equitable Mootness Applies to Chapter 9 Municipal Debt Adjustments, Ninth Circuit Says
‘Adamant’ dissenter argues that condemnation claims arising from eminent domain are excepted from discharge under the Takings Clause.
%1
Loss of Voting Rights Must Be Expressly Stated to Be Enforceable, District Judge Says
MPM Silicones makes law again, this time on subordination of junior secured lenders.
Judge Name - Do not use it.
Nelson S. Román
Mattress Firm Exits Bankruptcy, Shuts 660 Stores
Steinhoff International said on Thursday that its Mattress Firm Inc. unit, the largest U.S. mattress retailer, emerged out of bankruptcy with access to $525 million in exit financing, within two months of filing for chapter 11 protection, Reuters reported. Mattress Firm also closed about 660 underperforming stores, said Steinhoff, which has been working on a deal to restructure the debt of some units after revealing multi-billion-dollar holes in its balance sheet. The store closures still leave the Houston-based company with about 2,600 stores across the U.S. Mattress Firm, founded in 1986, had filed for voluntary bankruptcy protection in early October, gaining some breathing room to restructure and shore up its finances.
