The Week In Bankruptcy: Rent Relief Dominates Ch. 11 Cases
Law360 (June 12, 2020, 7:26 PM EDT) — New filings of high-dollar Chapter 11 cases slowed to a trickle last week as debtors driven into bankruptcy by the COVID-19 outbreak dealt with their liability for unpaid rent. Others whose cases began before the COVID-19 outbreak have made progress by closing on assets sales or confirming pre-coronavirus plans.
J.C. Penney received permission from a Texas judge Thursday to delay payment on $34 million in rent and lease obligations until July 13, overruling opposition from landlords who say the retailer could afford to pay the rent now. The storied icon has reopened more than half of its 850 stores nationwide…