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- If the contract is listed on the final schedule of assigned contracts as filed with the Bankruptcy Court on Feb. 28, 2021 (Docket #2667), it is assumed. All other contracts are rejected.
- These contracts were automatically and immediately assigned to Penney OpCo LLC (OpCo) by operation of the Sale Order with an effective date of Dec. 7, 2020.
- No other forms of assignment or name-change documentation between OpCo and the vendor are necessary.
- Cure amounts will be paid by OpCo in the ordinary course. Due to the number of cure payments, it is unlikely that you will receive payment prior to April 1, 2021.
- Rejected vendors with pre-petition claims or those who want to make a claim for breach of contract should contact Prime Clerk (JCPenneyinfo@primeclerk.com).
- OpCo will pay for services rendered pursuant to a rejected contract prior to Feb. 28, 2021.
- Vendors whose contracts have been rejected should not expect any payment for services rendered on or after March 1, 2021. However, invoices for services rendered prior to March 1, 2021, and due on or after March 1, 2021, will be paid following contractual payment terms.
- OpCo cannot advise vendors regarding their legal rights under the Bankruptcy Code. If advice regarding what the law is and how it applies to your company is needed, please consult with your own legal counsel.
