Close

MEDIA

Cole Schotz Secures Unprecedented Temporary Suspension of Modell's Sporting Goods' Ch. 11 Bankruptcy

March 27, 2020Attorneys: Michael D. Sirota, David M. Bass, Felice R. Yudkin and Rebecca Hollander
Cole Schotz P.C. has secured on behalf of Modell’s Sporting Goods a suspension in the proceedings of the company’s Chapter 11 Bankruptcy, to counter the operational shutdown of the Company’s store closing sales caused by COVID-19.

In making ground-breaking law, Cole Schotz relied on an infrequently used bankruptcy law provision in a way no party had ever done, allowing the sporting goods retailer to temporarily freeze its Chapter 11 case until at least April 30. The bankruptcy process is expected to resume once the coronavirus crisis is no longer deemed a threat and the stores can resume operations.

“We are extremely pleased to have obtained this first-of-its-kind order for Modell’s given the unprecedented circumstances posed by COVID-19,” said Michael D. Sirota, co-chair of the Bankruptcy & Corporate Restructuring Department at Cole Schotz. “We are thankful that Judge Vincent F. Papalia extended extraordinary time, effort and considered the extraordinary circumstances in granting the requested relief for the benefit of all parties.”

Mitchell Modell, CEO and President of Modell’s Sporting Goods, commented: “I want to personally thank Judge Vincent F. Papalia for being so understanding in these most difficult and unprecedented times. The brilliant team of Michael Sirota and his spectacular colleagues from Cole Schotz presented clear facts, working around the clock to accomplish this result.. I also appreciate the collaborative efforts of the vendors and landlords in reaching this temporary solution.”

In addition to Mr. Sirota, the Cole Schotz team included members David M. Bass, Felice R. Yudkin and Rebecca Hollander.
 

Hosted on the FirmWise platform.

© Cole Schotz P.C.

DISCLAIMER

The materials on this site have been prepared by Cole Schotz P.C. for general informational purposes only and are not intended to constitute legal advice. Viewers should not act upon this information without seeking professional counsel on the specific facts and circumstances in question from an attorney licensed in their jurisdiction. Use of this site does not create an attorney-client relationship between the user and Cole Schotz or any lawyer(s) within the firm. Any information sent to Cole Schotz or its lawyers through this site will not be treated as confidential and is not protected by the attorney-client privilege.

© Cole Schotz P.C.

Attorney Advertising

This website is an advertisement for a law firm. Statements and previous outcomes do not imply similar results in your matters.

© Cole Schotz P.C.

SUBMIT YOUR INFORMATION

Thank you for your interest in our publication. Please fill out below and a copy will be sent to your email address.

×

For Important Legal Updates and Resources on the Coronavirus Click Here.