In January, Walmart announced that it will be closing 269 stores worldwide, including 154 stores in the United States.1 These closings will have the effect of displacing 16,000 employees (10,000 in the U.S.), some of whom will be absorbed by neighboring stores, and others laid-off.2 Although Walmart is aiming at opening 300 new stores in…
Author: Lucas Wollenzien
The Square IPO and Unease over Tech Bubble 2.0
Last week, mobile payment company Square launched its IPO at $9 per share, closing the day at a 45% gain of $13.07.1 However, in spite of ending the day at a gain, Square’s IPO opening share price was lower than expected.2 As of early last week, it was speculated that the company would open at…
In re Tribune and the Narrowing of “Safe Harbor” for Fraudulent Transfer Claims
The cases of In re Tribune Co. Fraudulent Conveyance Litig., 499 B.R. 310 (S.D.N.Y 2013) and In re Lyondell Chem. Co., 503 B.R. 348 (Bankr. S.D.N.Y 2014) have narrowed the bankruptcy code’s scope of “safe harbor” regarding fraudulent transfer claims and bolstered the general security of creditors looking to claw back proceeds from pre-bankruptcy LBO’s….