J.C. Penney bankruptcy judge orders lawyers in case to appear due to 'lack of progress in the sale'
J.C. Penney’s lawyers and lenders need to pick up the pace.
U.S. Bankruptcy Court Judge David Jones issued an order calling in all the lawyers for the company, lenders, creditors and the ad hoc equity committee to his courtroom at 4 p.m. Wednesday.
Jones doesn’t mince words in his public hearings and apparently will deliver a strong message Wednesday because the hearing is sealed to the public. He’s even said he opposes sealed hearings and documents and has ruled that way consistently.
“At the initial hearings in this case, the court expressed its concern about the proposed timeline in this case. That concern has escalated due to the lack of progress in the sale process,” Jones said in his order.
Read more: https://www.dallasnews.com/business/retail/2020/08/19/jc-penney-bankruptcy-judge-orders-lawyers-in-case-to-appear-due-to-lack-of-progress-in-the-sale/
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