At Pioneer Funding, LLC, we provide expert guidance and insights on selling bankruptcy claims, creditor rights, distressed assets, and restructuring situations. Our co-founder, Adam Stein-Sapir, has been quoted in leading publications including The Wall Street Journal, Bloomberg, Forbes, New York Post, TechCrunch, New York Daily News, and Philadelphia Inquirer. This page features a collection of articles where Adam and our team have shared analysis and updates on recent bankruptcy filings from the perspective of a fund who buys trade claims, financial restructuring, and trends in the industry. Stay informed with the latest news and expert commentary from Pioneer Funding, LLC.
Filing for chapter 5 bankruptcy is often faster and cheaper than the better-known chapter 11, said Adam Stein-Sapir, a managing member of Pioneer Funding Group, LLC, which invests in claims against bankrupt companies.
The bankruptcy filing allows Suitable’s assets to be sold free of all legal issues, Stein-Sapir says, in a process that is “beyond reproach,” since it’s supervised by the court.
The restructuring team guiding Woodbridge through bankruptcy will likely “shy away from doing a quick…
Adam Stein-Sapir…said it was unlikely the bankruptcy would affect the tenant’s settlement but it makes it more unlikely owners would keep up repairs with the properties. “I wouldn’t expect anything to improve while they’re in bankruptcy,” he said. “If funds were an issue for the owner to respond to and perform repairs, that’s not going to improve in bankruptcy. They’re going to be spending a lot of money.”
“It’s a very niche exhibit and the operating costs are extraordinarily high,” said Adam Stein-Sapir, an expert on distressed debt. “It seems like they haven’t been able to generate the ticket sales to cover their expenses.”
“Other potential buyers of the customer list like Avenue are in bankruptcy,” said distressed debt expert Adam Stein-Sapir. “Dressbarn is widely considered to be a poor brand name.”
“It looks like this was a spec house that’s been for sale for a while,” said Adam D. Stein-Sapir of Pioneer Funding Group LLC, a New York firm that watches bankruptcies. Stein-Sapir has not been involved with the Brush Creek Road bankruptcy or foreclosure proceedings, which are now on hold because of the Chapter 11 move. “If there’s a foreclosure, then Mr. Droste’s equity would be gone.”
“Inverness filed for bankruptcy as a result of extreme competition with other skilled nursing facilities for staff and residents, lack of continuing financial support from Asbury Communities, and unsustainable bond obligations totaling over $60 million,” said Adam Stein-Sapir, a portfolio manager at Pioneer Funding Group who specializes in analyzing bankruptcy cases.
“It’s certainly a case where the lenders were able to overcome the debtor-friendly protections of bankruptcy and end up gaining control of the asset,” said Adam Stein-Sapir, a co-managing partner of Pioneer Funding Group, which specializes in analyzing and investing in bankruptcy cases, and who is not involved in the case. “Normally it can take quite a while.”
“You can see there’s some kind of liquidity issue going on,” Adam Stein-Sapir, a bankruptcy expert at Pioneer Funding Group LLC in New York, said of the filing.
“The most likely scenario is that they’ll work out a settlement, but Bruce and Wally have a big judgment to pay, money they have been avoiding paying for 40 years.”
“ESL could object to the sale,” distressed asset expert Adam Stein-Sapir told The Post. “A buyer could find itself in the middle of all of these parties who have an interest in those assets, including the creditors, Sears and ESL.”
“The estate cares about new money coming in,” distressed-asset expert Adam Stein-Sapir told The Post.
“Ronco has fallen so far,” said distressed-asset expert Adam Stein-Sapir. “Millions of dollars have been invested in that name.”
The owner of the Hotel Astor on South Beach filed Chapter 11 reorganization to stay an eviction lawsuit. The 40-room hotel at 956 Washington Ave. is owned by Astor EB-5 LLC, which has a land lease with 1651 Astor LLC.
