Bankruptcy Update: TSA and PacSun
Discussions between the term loan lender, WSFS, and consignment vendors over a settlement of the dispute over ownership of the consigned goods were ongoing but no settlement had been reached as of late today. In court hearings, both sides said that Jun. 28 was a firm deadline to give the liquidators clarity on the situation, but that deadline has evidently been extended and talks are continuing to progress. At yesterday’s hearing, the talks were described as very close to a settlement, with WSFS insisting on a global settlement.
The district court’s ruling on the appeal by WSFS to stay the order ... Log in to view full article.