Buffets, Inc. Emerges From Bankruptcy

Buffets, Inc., a steak-buffet restaurant company, announced that it has completed its restructuring and that it has emerged from chapter 11 reorganization, six months after its pre-negotiated filing on January 18, 2012.  Buffets currently operates 357 restaurants in 35 states. As part of the reorganization, the Company eliminated all of its outstanding pre-petition term debt, totaling […]

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Supreme Court Upholds Secured Creditor’s Right to Credit Bid

On May 29, 2012, the U.S. Supreme Court decided the well-monitored appeal in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank, where a chapter 11 debtor appealed the ruling of Seventh Circuit Court of Appeals that a debtor may not confirm a cramdown plan, proposing to sell encumbered assets free and clear of liens, without permitting the […]

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