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 a partner in Seward & Kissel LLP’s Corporate Restructuring & Bankruptcy Group. He represents creditors’ committees, lenders, directors, special committees, distressed investors, court-appointed examiners, and individual creditors in restructurings. Gayda currently leads the team representing the official committee of unsecured creditors in the A.B.C. Carpet & Home cases and the Furniture Factory cases, and he recently led the representation of the committee in the San Jose Fairmont cases.
