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hhgregg Bankruptcy Objections Filed

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Multiple parties – including 3503 RP Gurnee, Bel Air Square, Capital Centre, RPAI Concord King’s Grant II, RPAI Newnan Crossing II, RPAI West Mifflin Century III, Geneva Commons, DGI LS, Cincinnati Eastgate Exchange, IRC Orland Park Place, Noblesville Partners, Brixmor Property Group, Federal Realty Investment Trust, GGP Limited Partnership, HCP III Golden Gate – filed with the U.S. Bankruptcy Court separate objections to hhgregg’s proposed bid procedures.

Geneva Commons asserts, “Landlords object to the sale on the following grounds: a) The relief requested by Debtors is in violation of the due process rights of Landlords in that it fails to provide for adequate time to digest and respond to cure amount statements of Debtors, adequate assurance of future performance information (‘Adequate Assurance Information’) and to determine the suitability of prospective tenants. Debtors’ Motion and Proposed Order do not provide for sufficient Adequate Assurance Information.”

In addition, “The assumption and assignment rule proposed in the Motion and Proposed Order do not protect Landlords’ rights to have any assumption and assignment that comply with the terms of the various Leases. The sale free and clear of liens does not protect Landlords’ right to payment of accrued but unbilled charges.”

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