I shudder at the additional costs that JCPenney has to incur in order to fully settle the bankruptcy. BRADLEY SYVERSON, vp-real estate; C T Corporation System, agent; PropCos assets would include the 160 owned and ground leased real properties and the six owned distribution centers, as well as other unspecified related assets and liabilities. Agreed Notice of Reset of Hearing with Respect to Claim No. Paypal signed new agreements with Synchrony Financial late last year, whereby Synchrony would be the exclusive issue ofall credit/banking products including their Mastercards and Paypal Credit (which was previously contracted through Comenity Bank). Final Hearing on Certain First Day Motions, Hearing re Extending Time for Performance re Unexpired Non-Residential Lease, J. C. Penney Direct Marketing Services LLC, J. C. Penney Export Merchandising Corporation. In any case, as I understand it, PropCos will be owned by the majority of JCPenneys first-lien lenders. Case Background. 2022-11-21, Los Angeles County Superior Courts | Labor | Appearances: see attached. Cancellation and Refund Policy, Privacy Policy, and Media Relations: On March 31, 2022, the buyer will pay JCP 20% of the difference of (i) average net merchandise accounts payable in fiscal 2021 and (ii) net merchandise accounts payable at closing of the sale transaction; On March 31, 2023, the buyer will pay JCP 20% of the difference of (i) average net merchandise accounts payable in fiscal 2022 and (ii) average net merchandise accounts payable in fiscal 2021; The payment is limited to the less of (i) the amount due or (ii) the amount that would cause JCPs average LTM liquidity to fall below $500 million; and. When does Propco function? Copyright 2017 Textile Industries Media Group, LLC. Penney Opco LLC VISIT WEBSITE Contact Information 2401 S Stemmons Fwy, Ste 4000 Lewisville, TX 75067-8797 VIEW MAP (972) 431-1000 www.jcpenney.com Company Details Location Type: Headquarters Industry: Department Stores Ownership: Private Year Founded: 1902 We are pleased to lead such an important financing for this iconic American retailer, to not only support our long-term client through their reorganization, but also provide Simon Property Group and Brookfield Asset Management the financial flexibility they need as they transition JCPenney into its next phase, said David Marks, head of Wells Fargo Commercial Capital. Corpus Christi, Or is there a kitty that holds all lease payments due from now on? Reinforcing this shopping experience is the customer service and warrior spirit of JCPenney associates across the globe, all driving toward the Company's mission to help customers find what they love for less time, money, and effort. Agenda for Hearing on 12/7/2022 (Filed By J. C. Penney Direct Marketing Services LLC ). Orders purchased with PayPal will be refunded as cash when the customer is present at the point of return or as a check to the customer's billing address when the customer is not present. By browsing this website, you consent to the use of cookies. Notice of Electronic Hearing. We are looking forward to working with the management team and new equity partners as they continue to implement their transformation strategy and focus on enhancing the shopping experience of their loyal customer base., Additional information regarding JCPenneys financial restructuring is available at jcprestructuring.com. (Related document(s):538 Generic Motion) Filed by J. C. Penney Direct Marketing Services LLC. In addition, on November 24, 2020, the Court approved the Companys Plan of Reorganization to create separate property holding companies (PropCos) comprising 160 of the Companys real estate assets and all of its owned distribution centers, which will be owned by the Companys DIP and First Lien Lenders. Services may be provided by Western Union Financial Services, Inc. NMLS# 906983 and/or Western Union International Services, LLC NMLS# 906985, which are licensed as Money Transmitters by the New York State Department of Financial Services. J.C. Penney disclosed that on Sept. 10, the company entered into a nonbinding LOI with the ad hoc group, Simon Property Group and Brookfield Property Group that is "generally consistent with the framework of the restructuring process contemplated in the RSA." . Notice of Electronic Hearing. The OpCo will enter into master leases with the PropCos and JCPenney will continue to operate the properties and distribution centers moved into the PropCos. ALL PRIME CLERK URLS AND EMAIL ADDRESSES ARE AUTOMATICALLY REDIRECTED. NY Wells Fargo CPI Class Action Settlement. (Related document(s):2732 Generic Motion, 3025 Objection) Filed by OpCo Purchaser. JCPenney, one of the nations largest apparel and home retailers, combines an expansive footprint of stores across the United States and Puerto Rico with a powerful eCommerce site, jcp.com, to deliver style and value for all hard-working American families. Please click below to view and downloadadditional Sale Documents: The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors: Claims Bar Date: on or before July 10, 2020, at 5:00 p.m. (prevailingCT), GovernmentalBar Date: on or before November 12, 2020, at 5:00 p.m. (prevailingCT). Penney OpCo LLC (trading name, 2020-11-16 - ) JCPenney (trading name, 2021-01-13 - ) Agent Name C T Corporation System Agent Address 1999 Bryan St., Ste. It is difficult to understand how an operating company now run by Simon and Brookfield with assistance by ABG can operate when the properties may get not out of bankruptcy quickly. On January 30, 2021, the Effective Date of the Plan occurred, and the Plan was consummated.To view copies of the related documents, click on the link below: On October 20, 2020, the Debtors filed a motion to sell substantially all of their assets. I'm not sure what the process was to submit a claim if you were impacted by Paypal's alleged behavior regarding the credit product, perhaps there was a claim's administrator, I don't know. The Bankruptcy Courtheld a hearing "Sale Hearing"for the sale of the assets on November 9, 2020 at 10:30 a.m. (CT). (Related document(s):1594 Emergency Motion) Filed by J. C. Penney Company, Inc. Notice of Sale of Substantially All of the Debtors' Assets. This is exactly the type of investment our Retail Revitalization Program was designed to make and along with our partner Simon we have a successful blueprint in place to deploy our collective operational expertise and industry relationships to transform JCPenney through new innovations and offerings.. This content may be old or outdated. Despite that fact, Adobe claims to know that sales went up 22% - all through digital purchases. Core properties: 160 fee-owned and ground leased real properties comprising 33 Tier 1 properties, 84 Tier 2 properties, 20 Tier 3 properties and 23 Tier 4 properties; Landlord option properties: Landlord will have option to remove these properties; Tenant option properties: Tenant will have option to remove these properties; and. Leave the Archive, It has a return address of: PayPal, , Orlando, FL 32896, The name of the bank issuing this check is Synchrony Bank. 8:17-ML-2797-AG-KES. The common stock (JCPNQ/CPPRQ) is no longer in existence and is not traded or quoted on any market or exchange. Time Hearing Held: 11:15 AM. The old Penney's, now called Old Copper Company, will continue to own the real estate. (Related document(s):1592 Emergency Motion) Filed by J. C. Penney Company, Inc. Order Postponing Sale Hearing Signed on 11/2/2020 Sale Hearing continued to November 9, 2020, at 10:30 a.m. CST by telephone and video conference. Doing Business As: JC Penney Company Description: Key Principal: Kerri Bingham See more contacts Industry: Department stores, non-discount Printer Friendly View Address: 3601 S Constitution Blvd Salt Lake City, UT, 84119-3746 United States See other locations Phone: Employees (this site): Modelled ESG industry average: What is D&B's ESG Ranking? OpCo Secured Term Loan According to the filing, the proposed $500 million . You may unsubscribe by clicking the Unsubscribe link at the bottom of the email updates you receive. With this closing, our operating company has exited Chapter 11 and is continuing under new ownership and the JCPenney banner. JCPenney is now poised for a future focused on innovation and consumers, while continuing to navigate through the pandemic. Pathlight is pleased to support JCPenney through their emergence and future growth, said Dan Platt, CEO at Pathlight Capital. The Judge overseeing this case is THERESA M. TRABER. On May 15, 2020, JCPenney announced that it has entered into a restructuring support agreement (the "RSA") with lenders holding approximately 70% of JCPenney's first lien debt to reduce the Company's outstanding indebtedness and strengthen its financial position. There needs to be clarification. 2023-01-13, Los Angeles County Superior Courts | Personal Injury | Aside from the fact that the English does not make any sense, nor does the action. The Company has included statements in this press release that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Opinions expressed by Forbes Contributors are their own. Like the FTC on Facebook, follow us on Twitter, get consumer alerts, read our blogs, and subscribe to press releases for the latest FTC news and resources. Internet Explorer presents a security risk. (Related document(s):1503 Emergency Motion (with hearing date)) The Court heard from Notice of Reset Hearing. Learn more about your rights as a consumer and how to spot and avoid scams. Check your browser settings or contact your network administrator. Appearances: SEE ATTACHED. Agenda for Hearing on 7/22/2021 (Filed By J. C. Penney Direct Marketing Services LLC ). This includes a new ABL Facility, which was led by Wells Fargo, and the recently funded FILO Facility, on which Pathlight Capital (Pathlight) is serving as the FILO Agent. The .gov means its official. Looking for legal documents or records? NEW HAMPSHIRE FOREIGN LIMITED-LIABILITY COMPANY. PENNEY OPCO LLC. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. If its for a reasonably small amount 0-100, for example, I really can't imagine it being a fraudulent check. VS PENNEY OPCO LLC. Investors can still trade JCP it's . Court filings and information about the claims process are available at cases.primeclerk.com/JCPenney, by calling the Companys claims agent, Prime Clerk, toll-free at 877-720-6576, or by sending an email to JCPenneyinfo@primeclerk.com. I've encountered some lazy ones, if you don't feel like they are taking ownership of your issue, hang up and call again. https://www.cooley.com/ Phone: 212.479.6000 Fax: 212.479.6275, Jay R. Indyke Cathy Hershcopf Michael Klein, J. C. Penney Direct Marketing Services, LLC. 204, Olympia, WA 98501-1267, 232 Pinehurst Dr Sw # 302, Tumwater, WA 98501, 1111 Market St Ne Ste 200, Olympia, WA 98501, 5205 Boulevard Extension Road Se, Olympia, WA 98501, 300 Deschutes Way Sw Mc-Csc1, Ste 208, Tumwater, WA 98501, 120 State Ave Ne #1502, Olympia, WA 98501, 6511 Bunker Lake Blvd Nw, Ramsey, MN 55303-5409, 412 Sw 11th St, Battle Ground, WA 98604-2844, 404 N Ingraham Ave, Lakeland, FL 33801-2031, 1253 S Jackson St Ste A, Seattle, WA 98144-3075, 411 Lee Street Sw Apt B13, Tumwater, WA 98501, 22900 Se 438th St, Enumclaw, WA 98022-9069. Pursuant to the Plan of Reorganization, the common stock of Old COPPER Company, Inc. (f/k/a J. C. Penney Company, Inc.) was cancelled on the Effective Date. WRITE REVIEW. Not sure as I know nothing about e-checks, but its not implausible, so I offer it as a potential possibility. Are they going to sell some of their stores after ythe holiday season? Penney Opco LLC is listed as an officer of another company. (Photo by: Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images), Education Images/Universal Images Group via Getty Images. The Company does not undertake to update these forward-looking statements as of any future date. On December 7, 2020, Old COPPER Company, Inc. (OTCMKTS: CPPRQ), formerly known as J. C. Penney Company, Inc. (OTCMKTS: JCPNQ), completed the sale of substantially all of its retail and operating assets to Penney OpCo LLC, an entity controlled by Simon Property Group and Brookfield Asset Management, Inc. Penney OpCo LLC is a private company doing business as JCPenney outside of the Chapter 11 bankruptcy process. TX The RSA contemplates agreed-upon terms for a pre-arranged . 7/7/2022: Minute Order - MINUTE ORDER (CASE MANAGEMENT CONFERENCE:), 5/13/2022: Minute Order - MINUTE ORDER (CASE MANAGEMENT CONFERENCE:), 4/15/2022: Stipulation and Order - SECOND STIPULATION AND ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADING, 3/17/2022: Certificate of Mailing for - CERTIFICATE OF MAILING FOR (COURT ORDER - REGARDING CONTINUANCE OF HEARING:) OF 03/17/2022, 3/17/2022: Minute Order - MINUTE ORDER (COURT ORDER - REGARDING CONTINUANCE OF HEARING:), 3/17/2022: Stipulation and Order - STIPULATION AND ORDER TO EXTEND TIME TO FILE RESPONSIVE PLEADING AND CONTINUE CASE MANAGEMENT CONFERENCE, 1/19/2022: Notice of Case Management Conference, 1/13/2022: Summons - SUMMONS ON COMPLAINT, 1/13/2022: Notice of Case Assignment - Unlimited Civil Case, 1/13/2022: Voluntary Efficient Litigation Stipulation Packet, 1/13/2022: Unknown - FIRST AMENDED GENERAL ORDER RE: MANDATORY ELECTRONIC FILING, 1/13/2022: Unknown - ALTERNATE DISPUTE RESOLUTION PACKET, DocketOn the Complaint filed by Pamela Hill on 01/13/2022, entered Request for Dismissal with prejudice filed by Pamela Hill as to the entire action, DocketRequest for Dismissal; Filed by: Pamela Hill (Plaintiff); As to: Pamela Hill (Plaintiff); Penney Opco, LLC (Defendant), DocketOrder to Show Cause Re: Dismissal (Settlement) scheduled for 09/06/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47 Not Held - Vacated by Court on 07/22/2022, DocketOrder to Show Cause Re: Dismissal (Settlement) scheduled for 09/06/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47, DocketMinute Order (Case Management Conference:), DocketCase Management Conference scheduled for 07/07/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47 updated: Result Date to 07/07/2022; Result Type to Held, DocketCase Management Conference scheduled for 07/07/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47. After all, all those scams they talk about in the News where people deposited bogus checks and wired the money out to the fraudsters did not receive the checks in question until regular communication with the fraudster was established. We are pleased to lead such an important financing for this iconic American retailer, to not only support our long-term client through their reorganization, but also provide Simon Property Group and Brookfield Asset Management the financial flexibility they need as they transition JCPenney into its next phase, said David Marks, head of Wells Fargo Commercial Capital. 77010 OpCo acquired assets include substantially all operating assets and all of the real estate assets other than the PropCo assets. That would mean there would be fewer properties. Updated -- Julia N. Sarnoff (Attorney): Middle Name changed from Nell to N. Case Management Conference scheduled for 05/13/2022 at 08:30 AM in Stanley Mosk Courthouse at Department 47 Held - Continued was rescheduled to 07/07/2022 08:30 AM, Address for Azar Mouzari (Attorney) updated, Complaint; Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), Civil Case Cover Sheet; Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), Summons on Complaint; Issued and Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), Alternate Dispute Resolution Packet; Filed by: Clerk, First Amended General Order re: Mandatory Electronic Filing; Filed by: Clerk, Voluntary Efficient Litigation Stipulation Packet; Filed by: Clerk, Notice of Case Assignment - Unlimited Civil Case; Filed by: Clerk, Case assigned to Hon. Or exchange is THERESA M. TRABER the Judge overseeing this case is THERESA M. TRABER Judge overseeing this is! 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