JCPenney (JCP) Asks for Injunction in Bondholder Suit
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JCPenney (NYSE: JCP) is asking a Delaware judge for an injunction in its dispute with bondholders.
JCPenney took up litigation against the bondholders last month requesting a judge to declare that it wasn't in default of its bond agreements. The indenture agreement was related to about $326 million of bonds due 2037, though the suit alleges that JCPenney might be in default on all of its $2.9 billion in debt.
For more color on the case, click here.
Shares are down about 0.9 percent late Tuesday.
JCPenney took up litigation against the bondholders last month requesting a judge to declare that it wasn't in default of its bond agreements. The indenture agreement was related to about $326 million of bonds due 2037, though the suit alleges that JCPenney might be in default on all of its $2.9 billion in debt.
For more color on the case, click here.
Shares are down about 0.9 percent late Tuesday.
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