Toys R Us files for Chapter 11 reorganization

Lawyer Blog Post 2017/09/21 03:12   Bookmark and Share
Toys R Us, the pioneering big box toy retailer, has announced it has filed for Chapter 11 bankruptcy protection while continuing with normal business operations.

A statement by the Wayne, New Jersey-based company late Monday says it voluntarily is seeking relief in U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond - and that its Canadian subsidiary is seeking similar protection through a Canadian court.

Toys R Us says court-supervised proceedings will help restructure its outstanding debt and reorganize for long-term growth.

The company says separate operations outside the U.S. and Canada, including more than 250 licensed stores and a joint venture partnership in Asia, are not part of the filings.

It emphasizes that its approximately 1,600 locations will remain open, that it will continue to work with suppliers and sell merchandise.

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Kenya Supreme Court says why it annulled presidential poll

Legal Insight 2017/09/21 03:11   Bookmark and Share
Kenya's Supreme Court is delivering its full judgment on why it annulled President Uhuru Kenyatta's re-election in August.

The court annulled Kenyatta's victory in the August 8 election saying there were irregularities and illegalities, in response to opposition leader Raila Odinga's petition challenging the official results that Kenyatta won with 54 percent of the vote. The electoral commission has set Oct. 17 as the date for a fresh election. Kenya's Chief Justice David Maraga said Tuesday that since the September 1 judgment nullifying the election results, there have been attempts to intimidate judges.

Kenyatta has called the Supreme Court judges "crooks" and warned of unspecified action against the judiciary if he is re-elected next month. Kenyatta's supporters demonstrated outside the Supreme Court Tuesday ahead of the full judgment on Wednesday.
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