Pennsylvania Real Estate Investment Trust, along with its 70 affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware on December 10, 2023. The debtor listed its assets in the range of $0.5 million to $1 million and liabilities in the range of $1 billion to $10 billion. The debtor is represented by R. Craig Martin and Aaron S. Applebaum of DLA Piper LLP (US) and Wachtell, Lipton, Rosen & Katz as its legal counsels, PJT Partners LP appointed as investment banker, Kroll Restructuring Administration LLC acted as claims and noticing agent.

Dilworth Paxson LLP is appointed as special counsel to represent and assist the Board of Trustee