Filene's Basement, LLC

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Case overview

Case Number:

1:11-bk-13511

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

May 25, 2012
Syms Ordered To Reopen Ch. 11 Talks With Creditors

Syms Corp. unveiled its liquidation plan Friday, promising full payment for most creditors and an ample recovery for equity holders, but a bankruptcy judge promptly sent the clothing retailer back to the negotiating table with unsecured creditors, who claim the plan unfairly favors shareholders.
May 23, 2012
Syms Creditors Look To File Competing Ch. 11 Plan

Syms Corp.'s unsecured creditors asked a Delaware bankruptcy judge Wednesday for permission to lodge a rival liquidation plan for the company, saying the debtors' proposed plan stiffs creditors in favor of equity, particularly CEO and majority shareholder Marcy Syms.
April 26, 2012
Syms Examiner Report A Boondoggle, Shareholders Say

Syms Corp. shareholders on Wednesday blasted the defunct retailer's proposal to have an examiner probe alleged misconduct by top management, claiming the eventual report would cost thousands of dollars that could go to shareholders.
February 03, 2012
Syms Shareholders Ask To Submit Ch. 11 Plan

A committee representing Syms Corp. shareholders asked a Delaware bankruptcy judge on Friday for permission to file a Chapter 11 plan that would reorganize the defunct clothing retailer as a real estate holding company.
January 27, 2012
Syms, Filene's Creditors Can't Disband Equity Committee

A Delaware bankruptcy judge on Thursday refused to disband the committee representing equity holders in the Syms Corp. and Filene's Basement LLC bankruptcy despite requests by unsecured creditors who said the group was unnecessary because managers and directors own so much Syms stock.
January 24, 2012
Syms Examiner Fight Delayed For Ch. 11 Plan Talks

A Delaware bankruptcy judge on Tuesday postponed a hearing on Syms Corp.'s bid for an examiner to probe alleged misconduct by the defunct retailer's management to allow for talks between the debtors and disgruntled minority shareholders on a Chapter 11 plan.
January 11, 2012
Syms Creditors, Equity Holders Rip Adviser Hirings

Creditors and equity holders of Syms Corp. subsidiary Filene's Basement LLC on Tuesday objected to planned payments to two investment banks and two law firms, including Skadden Arps Slate Meagher & Flom LLP, calling them unnecessary given the company's stated goal of liquidation.
December 15, 2011
Syms Asks Examiner To Probe Management Misconduct

Syms Corp. asked a Delaware bankruptcy judge on Tuesday to tap an examiner to probe allegations of misconduct against management, hoping to head off a turf battle between shareholders and creditors of its insolvent subsidiary Filene's Basement LLC.
December 07, 2011
Syms Equity Holders Strike Back At Creditors

Syms Corp. shareholders on Wednesday asked a Delaware bankruptcy court to reject an attempt by unsecured creditors of Syms and Filene's Basement LLC to disband a committee representing the shareholders' interests, claiming they failed to show that the committee's appointment was improper.
November 28, 2011
Syms, Filene's Creditors Seek To Disband Equity Committee

Unsecured creditors of Syms Corp. and Filene's Basement LLC urged a Delaware bankruptcy court Wednesday to immediately disband a committee that represents equity holders, saying that the committee is too cozy with the company's leadership because managers and directors own so much Syms stock.

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