In re Body Transit

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August 7, 2020

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7991 Physical Fitness Facilities
713940 Fitness and Recreational Sports Centers
bankruptcy
going concern, liquidation, reorganization, chapter 11, projections, creditor, debtor, COVID-19
In re Body Transit
2020 Bankr. LEXIS 2111
US
Federal Court
Pennsylvania
United States Bankruptcy Court
Richard A. Jackim, Michael Caruso (debtor); James W. Comley, Edward Wilusz (creditor)
Frank

Summary

Court finds creditor’s interest in debtor’s property is “inconsequential” and says a valuation of debtor’s fitness club must account for dismal state of fitness industry due to COVID-19 shutdown; debtor’s projections related to reorganization plan are too optimistic given economic uncertainty.
In re Body Transit
PDF, Size: 219 KB

See Also

Court Finds Valuation of Debtor Entity Must Account for COVID-19 Effect on Industry

Court Case Digests
August 7, 2020

Court finds creditor’s interest in debtor’s property is “inconsequential” and says a valuation of debtor’s fitness club must account for dismal state of fitness industry due to COVID-19 shutdown; debtor’s projections related to reorganization plan are too optimistic given economic uncertainty.

This article also appears in:
Business Valuation & Bankruptcy Compendium, Third Edition
BVR Guide to Management Projections and Business Valuation: Analysis and Case Law