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RadioShack Objections Filed

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According to the U.S. Bankruptcy Court, multiple parties – including Washington Prime Group, Colt Holdings, De Rito Pavilions 139, Festival Pasadena Associates, HSG Pasadena, LM Pasadena and One Mile West – filed separate objections to RadioShack’s motion for (i) an order (a) establishing bid procedures for the sale of certain lease assets and (b) granting certain related relief and (ii) an order (a) approving the sale of certain lease assets free and clear of liens, claims, encumbrances and other interests and (b) granting certain related relief.

Washington Prime Group explains, “The WP Glimcher Landlords do not object to the Debtors’ establishment of bidding procedures or the establishment of procedures in connection with the potential assumption and assignment of the Debtors’ lease agreements. The WP Glimcher Landlords do, however, object to the Assignment Procedures, the Bidding Procedures, and the Cure Procedures currently suggested by the Debtors, as they are unduly burdensome on the WP Glimcher Landlords, do not provide the WP Glimcher Landlords with sufficient notice with respect to the sale and potential assumption and assignment of the Leases, and limit the ability of the WP Glimcher Landlords to fully assess any proposed assignee of the Leases and to contest any proposed assumption and assignment of the Leases (to the extent deemed necessary) in a prepared and informed manner.”

Read more about the RSH bankruptcy.