The Uniform Commercial Code (UCC) provides a framework to allow a secured party to foreclose its security interest in personal property after a default without judicial proceedings. The secured party may then proceed to take possession of the collateral and render it unusable or dispose of it on...

In February 2017, Strack and Van Til Supermarkets (SVT) retained the authors’ firm to address liquidity challenges and performance issues. Little did anyone appreciate at the time the severity of the issues the grocery store chain faced or that this case would become such a complex and multifaceted...

J acques H. “Jac” Belét III, CTP , is president of The Belét Group Inc., based in Memphis, Tennessee, with staffing throughout the United States. He has done turnarounds and corporate restructurings of middle market companies for 35 years and has an in-depth background in creditor and debtor...

Alabama Nicholas C. Glenos, Bradley Arant Boult Cummings LLP Arizona Matthew H. Sloan Atlanta Laura DiBiase, Miller & Martin PLLC Llewellyn R. Hall, FTI Consulting Ernesto Moran, UPS Capital Corporation Brian Stewart, Bibby Financial Services Inc. Carolinas Tim Jordan, Valtegra Group Chesapeake...

Chiron Financial LLC has opened a new European headquarters in Paris to be led by Alban Meteyer , a vice president with the middle market investment banking firm. The new office serves businesses in western continental Europe, including France, the U.K., the Netherlands, Germany, Italy, Spain,...

To outsiders, the world of turnarounds and restructurings can seem like a vast industry of disparate professionals with numerous specializations spread across the globe. In reality, our world is actually a small, tight-knit community that is closely connected through a network of dedicated and...

Last year more than 20 national retail chains filed for bankruptcy protection, continuing a trend that many observers attribute to the rise of e-commerce and the unprecedented growth of Amazon. While the impact of those forces certainly cannot be denied, the history of retail is also one marked by...

The 2005 amendments to the U.S. Bankruptcy Code foreclosed the ability of retailers to defer store lease assumption or rejection decisions until the end of a bankruptcy case. Following the 2005 amendments, retailers followed a predictable path leading up to bankruptcy, typified by waiting as long...

When charting a course through bankruptcy, retailers must prioritize maintaining sufficient liquidity to fund operations and the expenses associated with the case. To accomplish this, retailers typically use a lender’s cash collateral and obtain debtor-in-possession (DIP) financing. Both are...

The struggles of the U.S. retail sector have been well publicized—so much so that the term “retail apocalypse” is now firmly established in the lexicon. Last year alone, more than 20 national chains in the United States, including names like RadioShack, hhgregg, BCBG Max Azria, Gander Mountain, and...