The Wet Seal, Inc. Bankruptcy New Filing Alert: Affidavit Or Declaration Regarding Motion For Authority To Obtain Debtor-In-Possession Financing

On March 13, 2015, an affidavit or declaration regarding motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of The Wet Seal, Inc. and its affiliates.

The filing was assigned docket number 409 and is described on the court’s official docket as follows:

Declaration of Thomas R. Hillebrandt in Support of Motion of the Debtors for Entry of Order Pursuant to Sections 105, 361, 362, 363 and 364 of the Bankruptcy Code and Bankruptcy Rules 2002, 4001 and 9014: (I) Authorizing Replacement Postpetition Financing from Mador Lending, LLC, (II) Granting Liens and Providing Superpriority Administrative Expense Priority, (III) Authorizing Use of Cash Collateral and Providing for Adequate Protection, and (IV) Modifying the Automatic Stay (related document(s)[408]) Filed by The Wet Seal, Inc.. (Kandestin, Maris)

The Wet Seal, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on January 15, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 15-10081. The bankruptcy case is currently assigned to United States Bankruptcy Judge Christopher Sontchi. The law firm of Klee, Tuchin, Bogdanoff & Stern LLP is acting as lead bankruptcy counsel to The Wet Seal, Inc. in the bankruptcy case.


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