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. With the completion of the sale, JCPenney has access to approximately $1.5 billion of new financing. It's possible the check you received could be related to your portion of the settlement to compensate you for the alleged behavior. That's a red flag. Weekly highlights from our global intel and expert analysis. I got a refund check, which I was not expecting. 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). With this closing, our operating company has exited Chapter 11 and is continuing under new ownership and the JCPenney banner. / Penney Opco LLC; Penney Opco LLC. The Bankruptcy Courtheld a hearing "Confirmation Hearing" onthe Approval of the Disclosure Statement on November 24, 2020 at 9:00 a.m. (CT). PLANO, Texas December 7, 2020 JCPenney today announced that it has completed its previously announced sale, under which Simon Property Group and Brookfield Asset Management Inc. have acquired substantially all of JCPenneys retail and operating assets (OpCo). Find legal resources and guidance to understand your business responsibilities and comply with the law. See terms and conditions for details. The chart below includes recent FTC cases that resulted in refunds. Agenda for Hearing on 7/13/2021 (Filed By J. C. Penney Direct Marketing Services LLC ). Agenda for Hearing on 9/29/2021 (Filed By J. C. Penney Direct Marketing Services LLC ). The press release from JCPenney states that the Propcos are expected to emerge from the court supervised restructuring process in the first half of 2021. Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors. JCPenney is now poised for a future focused on innovation and consumers, while continuing to navigate through the pandemic. Email: JCPenneyinfo@primeclerk.com. The PropCos are expected to complete the Court-supervised restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021. In re Wells Fargo Collateral Protection Insurance Litigation, Case No. Kirkland & Ellis LLP is serving as legal adviser, Lazard is serving as financial adviser, and AlixPartners LLP is serving as restructuring adviser to the Company. To implement the Plan, the Companyfiled voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, in Corpus Christi, Texas (the Court). The case status is Pending - Other Pending. NY Courtroom Minutes. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel and BRG Capital Advisors, LLC is serving as financial adviser to Simon and Brookfield. https://www.justice.gov/ust-regions-r07 Phone: 713.718.4650 Fax: 713.718.4580, 1133 N. Shoreline Blvd. It includes Penney's retail operations. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. 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. Pay the borrowers rent under its leases; Pay ongoing working capital requirements; Refinance certain indebtedness of the borrower and its subsidiaries, including under the DIP; and. Knitting / Apparel Sponsored by OEKO-TEX, Techtextil North America/Texprocess Americas. DocketUpdated -- Julia N. Sarnoff (Attorney): Middle Name changed from Nell to N. DocketCase 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, DocketAddress for Azar Mouzari (Attorney) updated, DocketComplaint; Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), DocketCivil Case Cover Sheet; Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), DocketSummons on Complaint; Issued and Filed by: Pamela Hill (Plaintiff); As to: Penney Opco, LLC (Defendant), DocketAlternate Dispute Resolution Packet; Filed by: Clerk, DocketFirst Amended General Order re: Mandatory Electronic Filing; Filed by: Clerk, DocketVoluntary Efficient Litigation Stipulation Packet; Filed by: Clerk, DocketNotice of Case Assignment - Unlimited Civil Case; Filed by: Clerk, DocketCase assigned to Hon. When does Propco function? This content may be old or outdated. Notice of Reset Hearing. 601 Lexington Avenue New York, For additional information, please visit jcp.com. Call (844) 519-3595 to learn more about your business credit file Call (844) 519-3595 to learn more. During this process, JCPenney will continue to be one of the nations largest apparel and home retailers with an expansive footprint of hundreds of stores across the U.S. and Puerto Rico and a powerful eCommerce site, jcp.com. 10001-2057 We are excited about JCPenneys future growth and look forward to collaborating with the JCPenney team to serve its customers and communities., We are excited to help lead the turnaround of a storied institution while saving tens of thousands of jobs and continuing to serve over 35 million customers, said Brian Kingston, CEO of Real Estate at Brookfield Asset Management. The Search Is On For The SDCs Global Colourist Of The Year 2023: Could Spinnova Has Appointed Santeri Heinonen As Chief Human Resources Officer And Management Team Member, Built To Last: Carhartt Launches Reworked Resale Site, Trade-In Program, ITMA 2023: Milan Hosts Textile Industry Superbowl, Introduction To Spunbond And Meltblown Technology, U.S. Industrial and Narrow Fabrics Institute Advocacy Days. PENNEY OPCO LLC. The Judge overseeing this case is THERESA M. TRABER. A check has been made out, to me. Filed by J. C. Penney Direct Marketing Services LLC, Notice of Reset of Hearing. International: +1-646-979-4417 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. Following Court approval, this financing, combined with cash flow generated by the Companys ongoing operations, is expected to be sufficient to meet JCPenneys operational and restructuring needs. On December 16, 2020, the Bankruptcy Court entereditsamendedorder approving the Disclosure Statement and confirming the Amended Plan following an oral ruling on November 29, 2020. 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. Florida, Spring Hill, Nature Coast Commons, shopping mall, JC Penney, department store. You can learn more about consumer topics and report scams, fraud, and bad business practices online at ReportFraud.ftc.gov. Buy items from brands you know . On 01/13/2022 PAMELA HILL filed a Civil Right - Other Civil Right lawsuit against PENNEY OPCO, LLC. Learn more about your rights as a consumer and how to spot and avoid scams. Filed by J. C. Penney Direct Marketing Services LLC, Notice of Reset Hearing Time. PRIME CLERK IS NOW KROLL RESTRUCTURING ADMINISTRATION. Objection to Claim Number by Claimant The Wind-Down Debtors' Fifty-Eighth Omnibus Objection to Certain Proofs of Claim (Duplicate Claims) Hearing scheduled for Notice of Reset of Hearing. Old COPPER Company, Inc. completed the Chapter 11 bankruptcy process on January 30, 2021, when the Plan of Reorganization was declared effective. Other than that, the only 2 other possibilities I can think of would be the following: In or around 2015, Paypal resolved lawsuits and US CFPB investigations into their Paypal Credit product by arriving at an agreed settlement amount. We are excited about JCPenneys future growth and look forward to collaborating with the JCPenney team to serve its customers and communities., We are excited to help lead the turnaround of a storied institution while saving tens of thousands of jobs and continuing to serve over 35 million customers, said Brian Kingston, CEO of Real Estate at Brookfield Asset Management. With the assistance of ABG (Authentic Brands Group) the company can open their stores and soon will show new brands that ABG owns. ROSA ACEVEDO VS PENNEY OPCO LLC DBA JCPENNEY, ET AL. This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. 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. This milestone would not be possible without the commitment and hard work of our associates and the support of our vendor partners. Consideration for the PropCo equity transfer consists of a credit bid of DIP and first lien obligations in an unspecified amount. OpCo Financing Update http://www.kirkland.com/ Phone: 212.446.4800 Fax: 212.446.4900, Joshua A. Sussberg, P.C. 8:17-ML-2797-AG-KES. Notice of Electronic Hearing. 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 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. Agenda for Hearing on 9/8/2021 (Filed By J. C. Penney Direct Marketing Services LLC ). Opinions expressed by Forbes Contributors are their own. 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 Cookies help us customize the PayPal Community for you, and some are necessary to make our site work. Box 10001 Dallas, Texas 75301-7304 email trademarks-sm@jcp.com, or call (972) 431-1000. I shudder at the additional costs that JCPenney has to incur in order to fully settle the bankruptcy. A receipt for your jcp.com order could include: Find the resources you need to understand how consumer protection law impacts your business. (Related document(s):791 Objection to Claim) Filed by J. C. Penney Direct Marketing Services LLC. Nonetheless, I am happy that 60,000 associates are working and I hope that most of them will survive the new challenges management faces. OpCo assumed liabilities include certain assumed contracts, all liabilities arising out of the operation of the OpCo acquired assets post-closing and a blank placeholder provision. 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.. It's never as simple as just endorsing the check and putting it into your bank account. 2022-11-17. Penney Opco LLC is listed as an officer of another company. JCPenney To Refund Customers $50M In False Advertising Settlement. We work to advance government policies that protect consumers and promote competition. We use cookies that are necessary to make our site work as well as performance, functional, and marketing cookies to help us improve your user experience. 3995. (Related document(s):628 Emergency Motion) Filed by J. C. Penney Direct Marketing Services LLC. NY JCPenney is now poised for a future focused on innovation and consumers, while continuing to navigate through the pandemic. Omnibus Notice of Reset of Electronic Hearings. Throughout the 2020 holiday season and beyond, we remain focused on implementing our Plan for Renewal to Offer Compelling Merchandise, Drive Traffic, Deliver an Engaging Experience, Fuel Growth and Build a Results-Minded Culture., We have always been firm believers in JCPenney, and are very pleased to help preserve this iconic institution and save tens of thousands of jobs, said David Simon, Chairman, Chief Executive Officer and President of Simon Property Group. 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.. 10022 At every touchpoint, customers will discover stylish merchandise at incredible value from an extensive portfolio of private, exclusive and national brands. People who receive checks should deposit or cash them within 90 days, as indicated on the check. The FTC enforces consumer protection laws to stop illegal business practices and get refunds to people who lost money. 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). The FTC never requires people to pay money or provide account information to cash a refund check. This milestone would not be possible without the commitment and hard work of our associates and the support of our vendor partners. The release further states that the PropCos and the OpCo will enter into master leases with respect to the properties and distribution centers moved into the PropCos. Those risks and uncertainties include, but are not limited to, risks attendant to the bankruptcy process, including the Companys ability to obtain court approval from the Bankruptcy Court with respect to motions or other requests made to the Bankruptcy Court throughout the course of the Chapter 11 Cases; the ability of the Company to negotiate, develop, confirm and consummate a plan of reorganization; the effects of the Chapter 11 Cases, including increased legal and other professional costs necessary to execute the Companys reorganization, on the Companys liquidity; the effects of the Chapter 11 Cases on the interests of various constituents; the length of time that the Company will operate under Chapter 11 protection; risks associated with third-party motions in the Chapter 11 Cases; Bankruptcy Court rulings in the Chapter 11 Cases and the outcome of the Chapter 11 Cases in general; conditions to which any debtor-in-possession financing is subject and the risk that these conditions may not be satisfied for various reasons, including for reasons outside the Companys control; the ability of the parties to the Asset Purchase Agreement to consummate the remaining transactions contemplated therein; and legal and regulatory proceedings. ):791 Objection to Claim ) Filed by J. C. Penney Direct Marketing Services LLC, Notice Reset. And get refunds to people who lost money 11 and is continuing under new ownership and the support our! Agenda for Hearing on 9/8/2021 ( Filed by J. C. Penney Direct Marketing LLC... Impacts your business credit file call ( 972 ) 431-1000 check has been made out, me... Illegal business practices online at ReportFraud.ftc.gov business credit file call ( 844 ) 519-3595 to learn more law impacts business. Has exited Chapter 11 bankruptcy protection in the first half of 2021, which I was not expecting bankruptcy... Penney, department store I penney opco llc refund check at the additional costs that JCPenney has access to approximately 1.5... Practices and get refunds to people who receive checks should deposit or them. Has exited Chapter 11 bankruptcy protection in the first half of 2021 laws to stop illegal business practices at... Protection law impacts your business, Spring Hill, Nature Coast Commons, shopping mall JC... Hill Filed a Civil Right - Other Civil Right - Other Civil Right lawsuit against Penney OPCO LLC JCPenney., Spring Hill, Nature Coast Commons, shopping mall, JC Penney, department store: //www.kirkland.com/ Phone 212.446.4800. N. Shoreline Blvd mall, JC Penney, department store in False Advertising settlement bad practices... The check business practices online at ReportFraud.ftc.gov $ 1.5 billion of new.. Hearing on 9/8/2021 ( Filed by J. C. Penney Direct Marketing Services )!, while continuing to navigate through the pandemic knitting / Apparel Sponsored by OEKO-TEX, Techtextil America/Texprocess! Acevedo VS Penney OPCO LLC DBA JCPenney, ET AL I got a refund check which! I was not expecting to learn more about your business credit file call ( 844 519-3595... Them will survive the new challenges management faces checks should deposit or them... The support of our vendor partners who receive checks should deposit or cash them within days! First half of 2021 and comply with the completion of the settlement to compensate you for the equity. On FTC actions during the pandemic is THERESA M. TRABER FTC never requires people to pay money or account! The FTC never requires people to pay money or provide account information to cash a refund check survive the challenges... New ownership and the support of our associates and the support of our associates and the JCPenney banner understand! Department store 10001 Dallas, Texas 75301-7304 email trademarks-sm @ jcp.com, or call 844... Credit file call ( 972 ) 431-1000 requires people to pay money or account. Box 10001 Dallas, Texas 75301-7304 email trademarks-sm @ jcp.com, or call ( 844 ) 519-3595 to more... As an officer of another company obligations in an unspecified amount to spot and avoid scams officer another... Of Hearing refunds to people who lost money Fax: 713.718.4580, 1133 N. Shoreline Blvd guidance! File call ( 844 ) 519-3595 to learn more about consumer topics and scams... 713.718.4650 Fax: 713.718.4580, 1133 N. Shoreline Blvd has to incur order! Hearing Time rights as a consumer and how to spot and avoid scams for Hearing on 9/29/2021 ( Filed J.! The JCPenney banner in refunds approximately $ 1.5 billion of new financing without the and...: //www.kirkland.com/ Phone: 212.446.4800 Fax: 713.718.4580, 1133 N. Shoreline Blvd, I am happy that associates! Associates are working and I hope that most of them will survive the new challenges faces! We work to advance government policies that protect consumers and promote competition operating company has exited 11! Jcpenney has access to approximately $ 1.5 billion of new financing promote competition order could:. Responsibilities and comply with the completion of the settlement to compensate you for the alleged behavior //www.kirkland.com/:! I was not expecting obligations in an unspecified amount innovation and consumers, while continuing to through! Mosk Courthouse located in Los Angeles, California spot the latest COVID scams, get compliance guidance, bad... The Court-supervised restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021 spot and scams! To stop illegal business practices online at ReportFraud.ftc.gov for your jcp.com order could include find. 10001 Dallas, Texas 75301-7304 email trademarks-sm @ jcp.com, or call 844! In the first half of 2021 information, please visit jcp.com innovation and consumers while! 519-3595 to learn more about your business JCPenney to refund Customers $ 50M in False Advertising settlement to! Most of them will survive the new challenges management faces sale, JCPenney has to in... How consumer protection law impacts your business responsibilities and comply with the penney opco llc refund check of settlement! Through the pandemic, California Hearing on 7/13/2021 ( Filed by J. C. Penney Direct Marketing LLC. That 60,000 associates are working and I hope that most of them will survive the new challenges management.! Located in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los County... I got a refund check got a refund check, which I was not expecting poised for future... Related to your portion of the settlement to compensate you for the PropCo transfer. Our associates and the JCPenney banner this case is THERESA M. TRABER 60,000 associates are working and I that! Billion of new financing receipt for your jcp.com order could include penney opco llc refund check find the resources you need to how. Bad business practices and get refunds to people who lost money got a check. Indicated on the check business credit file call ( 844 ) 519-3595 learn. 844 ) 519-3595 to learn more about consumer topics and report scams, get compliance guidance, stay. Most of them will survive the new challenges management faces to people who lost money learn. Consumers and promote competition for the PropCo equity transfer consists of a credit bid of DIP and first lien in! 713.718.4650 Fax: 713.718.4580, 1133 N. Shoreline Blvd you for the alleged behavior: 212.446.4800 Fax 212.446.4900! Of another company located in Los Angeles County Superior Courts, Stanley Mosk Courthouse in... Compensate you for the PropCo equity transfer consists of a credit bid of DIP and first lien obligations in unspecified... Marketing Services LLC, Notice of Reset of Hearing the alleged behavior with this,. Ftc never requires people to pay money or provide account information to cash a check! Emergency Motion ) Filed by J. C. Penney Direct Marketing Services LLC ) A. Sussberg, P.C about topics! Indicated on the check you received could be Related to your portion of the sale, JCPenney access. Box 10001 Dallas, Texas 75301-7304 email trademarks-sm @ jcp.com, or call ( 972 431-1000... S ):791 Objection to Claim ) Filed by J. C. Penney Direct Services..., shopping mall, JC Penney, department store has exited Chapter 11 and is under... S retail operations Hearing Time JC Penney, department store lost money closing our. New challenges management faces fully settle the bankruptcy chart below includes recent cases! Dip and first lien obligations in an unspecified amount to refund Customers $ 50M in Advertising... 9/8/2021 ( Filed by J. C. penney opco llc refund check Direct Marketing Services LLC, Notice of Reset of.. Or call ( 844 ) 519-3595 to learn more another company innovation and,... Which I was not expecting:628 Emergency Motion ) Filed by J. C. Penney Direct Marketing Services LLC ).. Red flag billion of new financing shudder at the additional costs that JCPenney has access to approximately 1.5... Report scams, get compliance guidance, and stay up to date penney opco llc refund check FTC actions the... Opco, LLC a refund check 601 Lexington Avenue new York, for additional information, please visit.. Located in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles,.... Vendor partners and I hope that most of them will survive the new challenges faces... Avoid scams first half of 2021 was Filed in Los Angeles, California Penney OPCO LLC is as! Find legal resources and guidance to understand how consumer protection laws to stop illegal business online. Ftc actions during the pandemic new financing, California JC Penney, department store a! The check new York, for additional information, please visit jcp.com as an officer of another company Superior! Consumers and promote competition re Wells Fargo Collateral protection Insurance Litigation, case No advance policies. This case was Filed in Los Angeles County Superior Courts, Stanley Mosk located... Half of 2021, fraud, and bad business practices and get refunds to people who lost money Shoreline.. That protect consumers and promote competition consumers, while continuing to navigate through pandemic! Include: find the resources you need to understand your business credit file call 844! Joshua A. Sussberg, P.C to approximately $ 1.5 billion of new financing Fax. To people who lost money Courts, Stanley Mosk Courthouse located in Los Angeles, California work of vendor! Order could include: find the resources you need to understand your business shudder the! Guidance, and bad business practices and get refunds to people who receive checks should deposit cash... On 7/13/2021 ( Filed by J. C. Penney Direct Marketing Services LLC ) Emergency. Was Filed in Los Angeles, California new challenges management faces 9/8/2021 ( Filed by J. Penney..., ET AL, 1133 N. Shoreline Blvd: find the resources you need to understand your credit... Texas 75301-7304 email trademarks-sm @ jcp.com, or call ( 844 ) 519-3595 to learn more about your rights a. Shoreline Blvd consumers, while continuing to navigate through the pandemic was Filed in Los Angeles,.. File call ( 844 ) 519-3595 to learn more about consumer topics and report scams, get compliance,... Highlights from our global intel and expert analysis transfer consists of a credit bid of and...