Retail Rivalry: Consignment Vendors, Secured Lenders Spar over Priority
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Retail Rivalry: Consignment Vendors, Secured Lenders Spar over Priority
By Robert J. Gayda, Counsel & Michael V. Tenenhaus, Associate, Seward & Kissel LLP
A dispute arising from the bankruptcy cases of Sports Authority Holdings Inc. highlights an issue that could be at the forefront of upcoming retail bankruptcies and should always be considered by parties with credit exposure to distressed retailers. The dispute centered on the competing claims...
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Michael Tenenhaus is an associate in the Bankruptcy and Reorganization Group at Seward & Kissel LLP. His practice focuses on restructuring, bankruptcy, and creditors’ rights. He holds a bachelor’s degree, summa cum laude and Phi Beta Kappa, from Muhlenberg College and a law degree, magna cum laude, from Hofstra University School of Law, where he was a recipient of the Benjamin Weintraub and Alan N. Resnick Bankruptcy Law Award.
Robert J. Gayda is counsel in the Bankruptcy and Corporate Reorganization Group of Seward & Kissel LLP. He has practiced law since 2004 and joined Seward & Kissel this year. Over the course of his career, Gayda has represented a diverse clientele in all aspects of restructuring. This includes creditors’ committees, a court-appointed examiner, lenders and lender groups, special committees, investors, and individual creditors in both out-of-court and in-court restructurings.
