Cole Schotz Secures Approval for True Religion Reorganization Plan

October 6, 2020Attorneys: Justin R. Alberto, Seth Van Aalten, Michael Trentin, Patrick J. Reilley, Warren A. Usatine, Roger M. Iorio, Randi W. Kochman, Joseph A. Armenti and Michael C. Klauder
Cole Schotz P.C. has secured on behalf of client True Religion Apparel Inc. approval of its reorganization plan in U.S. Bankruptcy Court for the District of Delaware. The retailer filed for Chapter 11 in April as a result of the COVID-19 pandemic and has received approval for its reorganization plan from U.S. Bankruptcy Judge Christopher Sontchi. The plan confirmation order was entered today, October 6.

The Cole Schotz team, led by member Justin Alberto and including member Seth Van Aalten and associate Michael Trentin, assisted the retailer with all aspects of its reorganization, including a settlement with a group of lenders owed $65.8 million that enabled the company to finalize the terms of its reorganization plan. Judge Sontchi praised management and the professionals for successfully reorganizing a retail establishment during COVID-19, calling it an “unusual” feat even before the pandemic.

The team was also assisted by Cole Schotz members Kate Stickles, Patrick Reilley, Warren Usatine, Roger Iorio, Randi Kochman, and associates Joseph Armenti and Michael Klauder.

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