March 25, 2016
Partner Robert L. LeHane, special counsel Gilbert R. Saydah Jr. and associate Scott L. Fleischer are mentioned as counsel to the landlords that lease retail space to Sports Authority in the Law360 article “Sports Authority Landlords Say $20M Cost Not Covered.” The article discusses the landlords’ demand, in papers that were filed in Delaware bankruptcy court, that Sports Authority immediately pay March rent. They said the athletics retailer doesn’t have a plan to pay approximately $20 million in unsecured financing that the landlords are liable for. Several companies that own shopping centers where Sports Authority leases space are demanding immediate payment of rent and urging the bankruptcy court to impose protections on the debtor’s continued use of their properties. Sports Authority filed for Chapter 11 bankruptcy with plans to close stores and restructure $1.1 billion in debt.
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