Daily Bankruptcy & Restructuring Newsletter for January 16, 2015

All About Wet Seal (Which Filed for Chapter 11 Late Last Night in Delaware)…

Court Docket: Motion for Order Approving Wet Seal’s Assumption of a Plan Sponsorship Agreement with B. Riley Financial, Inc. & Approving and Authorizing the Payment of a Break-Up Fee and Expense Reimbursement

Commercial Bankruptcy Investor: The Wet Seal, Inc. Files for Bankruptcy Protection with Plan Sponsorship Agreement

Reuters: Apparel retailer Wet Seal files for Chapter 11 bankruptcy

All About Caesars…

Court Docket (Delaware): Order Pursuant to Section 105(a) of the Bankruptcy Code and Bankruptcy Rule 1014(b) Staying Parallel Proceeding

Reuters: Caesars files Chicago bankruptcy, halted by Delaware judge

Maria Chutchian of Debtwire on Twitter: NY judge keeps unsecured noteholder suit alive in New York. Status conference will be held Feb. 3

All About RadioShack…

Wall Street Journal: RadioShack Delays Some Rent Payments Amid Restructuring

Bloomberg: RadioShack Said to Be in Talks to Sell Stores to Sprint

Press Release: GASFRAC Energy Services Inc. Commenced Proceedings and Obtained Court Protection Under the Companies’ Creditors Arrangement Act and Recognition Under Chapter 15 in the Western District of Texas

Bloomberg: Best Buy Tumbles After Predicting Sales Slump in First Half

Weil, Gotshal & Manges: Postpetition Ratification of Prepetition Stay Waivers – A Possible End Around of the General Prohibition Against Prepetition Waivers of Bankruptcy Rights?

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