Kozyak Tropin & Throckmorton is a complex commercial litigation firm founded in 1982 that focuses its practice on bet-the-company commercial cases, class actions, healthcare and bankruptcy matters.
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COURT OKS PROPOSED $150M SETTLEMENT WITH RAYMOND JAMES
/in In the News /by Diane McDermottAfederal judge has given initial approval to a nearly $150 million settlement with an investment firm over its alleged role in a “Ponzi-like” scheme to defraud investors in EB-5 funded developments projects at Jay Peak, Burke Mountain and in the city of Newport.
Retailers Going Bankrupt at Staggering Rate on Flood of Store Closures
/in In the News /by Diane McDermottRetailers reportedly are filing for bankruptcy protection at a disturbing rate that’s flirting with recessionary levels.
‘The dominoes are starting to fall’: Retailers are going bankrupt at a staggering rate
/in In the News /by Diane McDermottRetailers are filing for bankruptcy at an alarming rate that’s quickly approaching recessionary levels. It’s only April, and nine retailers have already filed for bankruptcy since the start of the year — as many as all of last year.
The retail apocalypse is having a terrifying impact on one corner of Wall Street
/in In the News /by Diane McDermottOne of the biggest waves of retail closures in decades is killing off malls across the US and taking some Wall Street investments with it. Struggling with online competition, huge retailers like Sears, JCPenney, and Macy’s are closing hundreds of stores that typically anchor malls, meaning they occupy the largest spaces at mall entrances and drive most shopper traffic.
New York City’s high-end restaurants are disappearing
/in In the News /by Diane McDermottNew York City’s higher-end restaurant scene is now experiencing what some national dining chains have been going through for the past year or so — closing the kitchen.
State, former healthcare provider agree to settle suit over prisoners’ untreated hernias
/in In the News /by Diane McDermottAbout 1,800 current and former Florida prison inmates who were denied medical care for hernias will be entitled to divide $1.7 million in damages from a class-action lawsuit under a conditional settlement agreed to by the Department of Corrections and its former prison health-care provider, Corizon, and filed in federal court in Tallahassee last week.
For Only $130 a Month, You Could Lease an Entire Office Inside a Virtually Empty Staples
/in In the News /by Diane McDermottIn September, Staples partnered with Massachusetts operator of co-working space Workbar, to bring offices, reservable conference rooms, private phone rooms and free onsite parking, plus unlimited coffee as the retailer pointed out, to monthly members at a cost of $130. The spaces are only available at three Staples stores located near Boston so far.
Sears warranties could be worthless if company files bankruptcy: Money Matters
/in In the News /by Diane McDermottNow that Sears seems to be warning it could file bankruptcy, I’m wondering what could happen to my extended warranties on the appliances I’ve bought from Sears? I bought a new refrigerator, stove and dishwasher last year and also purchased extended warranties. If Sears goes out of business, who would honor those warranties?
Don’t Write That Mall Obit Yet
/in In the News /by Diane McDermottThe litany of recent store closures reads like a who’s who of once beloved retailers. Whether to bankruptcy or restructuring, hundreds of doors have been—or are already slated to be—on the chopping block.
Here’s what will happen to your Sears warranty if the company goes bankrupt
/in In the News /by Diane McDermottAlbert Barrera of Odessa, Texas, walked into a Sears store recently with a pressing question for the manager: “If Sears closes, who will service my refrigerator?”
Amazon Is Causing Catastrophe by Being the Most Disruptive Force in Retail and Technology Today
/in In the News /by Diane McDermottIt’s no secret that Amazon (AMZN) is upending retail, with a new bankruptcy filing or store closure announcement coming nearly every day since the beginning of March from traffic starved bricks-and-mortar retailers.
Fashion brands go out of style faster
/in In the News /by Diane McDermottAmerican Apparel bit the dust. So did Nasty Gal. BCBG Max Azria filed for bankruptcy as did teen retailer Wet Seal. The fashion industry long has been a fickle beast, with trends rising and dying sometimes in the space of weeks. But changing consumer habits — including the emergence of e-commerce and the decline of traffic at many malls — is further shortening the life cycle for many fashion brands, analysts said.