Law360 Mentions Kelley Drye Attorneys as Counsel to dELia*s Creditors Committee in the Retailer’s Bankruptcy
December 23, 2014

Partner James S. Carr, partner Eric R. Wilson, partner Robert L. LeHane, and associate Gilbert R. Saydah Jr. are noted as counsel to dELia*s Inc. unsecured creditors committee in the Law360 article “Delia's Reaches Tentative Creditor Deal On $20M DIP.” The article discusses a provisionary agreement from the unsecured creditors of dELia*s to settle concerns that a $20 million bankruptcy loan would let lender Salus Capital Partners LLC receive too much of the retailer’s liquidation. The terms of the proposed deal state that $18.5 million of dELia*s liquidation would go to paying Salus for preexisting loans. If Salus approves, the agreement will avoid the possibility of a dispute among the unsecured creditors over whether dELia*s can fund its wind-down on existing cash and collateral alone.

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