Illegal Activity
none
Blackmail
none
Date
2015-10-14
Document Type
legal filing
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:43
Summary
This document is an amendment to Form S-1, specifically addressing commitments, contingencies, and off-balance sheet arrangements. It details potential financial liabilities related to workers' compensation obligations and lease assignments, particularly those assigned to Haggen, which filed for bankruptcy, creating uncertainty for the company.
Metadata
- Subject
- Amendment No. 3 to Form S-1
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0081767, SDNY_GM_00227951
- Date
- 2015-10-14
Relationships 5
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| SuperValu | legal | California Department of Industrial Relations | SuperValu was notified by the DIR that additional security was required to be posted in connection with the Company's California self-insured workers' compensation obligations. |
| SuperValu | legal | California's Self-Insurer's Security Fund | Dispute with the Fund was resolved through a settlement agreement as part of the NAI acquisition. |
| Company | financial | DIR | The Company provided to the DIR a $225.0 million LOC to collateralize any of the self-insurance workers' compensation future obligations in excess of the $75.0 million fund. |
| Company | financial | California Self-Insurers' Security Fund | The Company entered into a Collateral Substitution Agreement with the California Self-Insurers' Security Fund to provide an irrevocable LOC to replace the mortgage liens against the Jewel real estate assets and the previously issued $225.0 million LOC. |
| Company | business | Haggen | The Company assigned leases with respect to 93 store properties to Haggen. |
Notable Quotes 2
The Company does not know the extent to which Haggen will reject or default on its lease obligations to third parties or whether Haggen will be successful in selling store leases to third parties.
As a result, the Company is currently unable to estimate its losses with respect to its contingent liability with respect to the Haggen leases.
Red Flags 1
- Haggen's bankruptcy and potential rejection of lease obligations create uncertainty and potential financial risk for the Company.
Financial Information
Amounts:$271.0 million$427.0 million$75.0 million$225.0 million$284.1 million$338.0 million$286 million
Assets:
- Jewel real estate assets
Transactions:
- Security deposit of $271.0 million demanded by DIR.
- Fund of $75.0 million set up for payment of future claims.
- LOC of $225.0 million provided to the DIR.
- LOC of $284.1 million as of June 20, 2015.
- LOC of $338.0 million as of February 28, 2015.
- Aggregate undiscounted lease obligations under the 93 stores assigned to Haggen is approximately $286 million.
Public Knowledge
- Context
- Haggen's bankruptcy and its impact on other companies would be of interest to the media.
- Media Worthy
- Yes
Legal Compliance
- Potential liability under certain operating leases assigned to third parties.
- Potential liability for Haggen's lease obligations if Haggen rejects or defaults on them.
Raw Analysis JSON
click to expand
Themes
Financial transactions/money flowLegal matters/litigationReal estate/propertiesBusiness dealings
Organizations 14
AB ACQUISITION LLCCalifornia Department of Industrial RelationsOffice of Self-Insurance PlansDIRSuperValuCalifornia's Self-Insurer's Security FundFundNAIJewelCalifornia Self-Insurers' Security FundFTCHaggenU.S. Bankruptcy CodeUnited States Bankruptcy Court for the District of Delaware
Locations 2
CaliforniaDistrict of Delaware
Text Analysis
- Tone
- Informative
- Purpose
- To provide notes to condensed consolidated financial statements regarding commitments, contingencies, and off-balance sheet arrangements, specifically guarantees related to workers' compensation obligations and lease assignments.
- Significance
- The document outlines potential financial liabilities related to workers' compensation claims and lease obligations, particularly those assigned to Haggen, which filed for bankruptcy.
File Info
- File Name
- EFTA01382420.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:43:33.599031
- DOJ Source
- View on DOJ