23-13359

Bankr. D.N.J.

May 19, 2025

In re: BED BATH & BEYOND INC., et al.

Case No. 23-13359 (VFP)

UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY

May 19, 2025

Hоnorable Vincent F. Papalia, United States Bankruptcy Judge

Chapter 11; (Jointly Administered); Caption in Compliance with D.N.J. LBR 9004-1(b)

Robert J. Feinstein, Esq. (admitted pro hac vice)
Bradford J. Sandler, Esq.
Paul J. Labov, Esq.
Colin R. Robinson, Esq.
PACHULSKI STANG ZIEHL & JONES LLP
1700 Broadway, 36th Floor
New York, NY 10019
Telephone: (212) 561-7700
Facsimile: (212) 561-7777
Email: rfeinstein@pszjlaw.com
bsandler@pszjlaw.com
plabov@pszjlaw.com
crobinson@pszjlaw.com

Counsel to the Plan Administrator

ORDER SUSTAINING PLAN ADMINISTRATOR‘S FIFTEENTH OMNIBUS OBJECTION (SUBSTANTIVE) TO CLAIMS (Reclassify Bondholder Claims to Class 6 General Unsecured Claims)

The reliеf set forth on the following pages, numbered two (2) through four (4), is ORDERED.

DATED: May 19, 2025

Honorable Vincent F. Papalia

United States Bankruptcy Judge

Upon the objection (the “Objection“)² of the Plan Administrator, pursuant to sections 105 and 502 of the Bankruptcy Code, Bankruptcy Rule 3007, and Local Rules 3007-1, 3007-2, and 9013-1, seeking entry of an order (this “Order“) reclassifying the claims identified on the attached Exhibit 1 (the “Reсlassified Claims” or “Disputed Claims“); and upon consideration of the record of these chapter 11 cases and the Declaration of Michael Goldberg; and the Court having jurisdiction to consider the Objection and the rеlief requested therein pursuant to 28 U.S.C. §§ 157 and 1334; and venue being proper before this Court; consideration of the Objection and the relief requested being a core proceeding рursuant to 28 U.S.C. § 157(b); due and proper notice of the Objection having been provided, and it appearing that no other or further notice need be provided; and the Court having found and determined that the relief sought in the Objection is in the best interests of the Debtors’ estates, their creditors and all parties in interest, and that the legal and factual bases set forth in the Objection establish just cause for the relief granted herein; and after due deliberation and sufficient cause appearing therefor, it is hereby

IT IS HEREBY ORDERED THAT:

The Objection is sustained.
The Disputed Claims set forth on the attached Exhibit 1 are hereby reclassified as Clаss 6 General Unsecured Claims.
The Claims and Noticing Agent is authorized to modify the Claims ‍‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‍Register to reflect the relief granted by this Order.

Nothing in this Order shall affect any party‘s rights with respect to the Disputed Claims as reclassified, and all parties’ rights with respect to such claims are reserved, including, for the avoidance of doubt, the Plan Administrator‘s or any estate representativе‘s rights to object in the future to any Disputed Claim on any grounds permitted by bankruptcy or nonbankruptcy law.
Nothing in this Order shall be deemed (i) an admission as to the validity of any claim or as an allowance of any claim; (ii) a waiver of the Debtors’ or Plan Administrator‘s rights to dispute any claim, including the claims set forth on Exhibit 1 hereto, on any grounds, including, but not limited to, pursuant to section 502(d) of the Bankruptcy Code; (iii) a рromise or requirement to pay any claim; (iv) an implication or admission that any claim is of a type referenced or defined in this Objection; (v) a waiver or limitation of any of the Debtors’ or Plan Administrator‘s rights under the Plan, the Bankruptcy Code, or applicable law; or (vi) a waiver of any other substantive objection to the Disputed Claims.
Each Disputed Claim and the objections by the Plan Administrator thereto, as set forth on Exhibit 1 hereto, constitutes a separate contested matter as contemplated by Bankruptcy Rule 9014 and Local Rule 3007. This Order shall be deemed a separate Order with respect to each such Disputed Claim. Any stay of this Order pending appeal by any Claimant whose claim is subject to this Order shall only apply to the contested matter which involves such claimant and shall not act to stay the applicability and/or finality of this Order with respect to the other contested mattеrs listed in the Objection or this Order.

Notwithstanding any applicable provisions of the Bankruptcy Code, the Bankruptcy Rules, or the Local Rules, this Order shall be effective immediately upon its entry.
The Court shall retain jurisdiction to construe and enforce this Order.

Exhibit 1 to Exhibit A

List of Disputed Claims

BED BATH BEYOND INC., Case No. 23-13359 (VFP)
Exhibit 1 to Order Sustaining Plan Administrator‘s Fifteenth Omnibus Objection (Reclassified Bondholder Claims)

#	Name of Claimant	Date Claim Filed	Claim Number	Debtor Name	Asserted Claim Amount	Reclassified Claim Amount	Reason for Reclassification
1	Alan Powitz Trust	5/19/2023	1814	Bed Bath & Beyond Inc.	Secured $4,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $4,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $4,000.00 Total $4,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
2	Anderson, Lorrie R	7/5/2023	9379	Bed Bath & Beyond Inc.	Secured $35,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $35,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $35,000.00 Total $35,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator ‍‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‍asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
3	Avrashow, Wayne	5/1/2023	76	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $28,000.00 GUC $0.00 Total $28,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $28,000.00 Total $28,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
4	Book, Alice Marie	7/10/2023	13361	Bed Bath & Beyond Inc.	Secured $46,152.50 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $3,847.50 Total $50,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $50,000.00 Total $50,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
5	BOOK, ALICE MARIE	7/7/2023	13646	Bed Bath & Beyond Inc.	Secured $46,152.50 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $3,847.50 Total $50,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $50,000.00 Total $50,000.00	Claim is not еntitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
6	Calm Spirit Investing Inc Solo 401(k)	5/1/2023	140	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $5,058.80 GUC $0.00 Total $5,058.80	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $5,058.80 Total $5,058.80	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
7	Chehade, Monif k	6/5/2023	3669	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $3,000.00 GUC $0.00 Total $3,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $3,000.00 Total $3,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
8	Chilumula, Aditi	6/15/2023	4370	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $15,000.00 GUC $0.00 Total $15,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $15,000.00 Total $15,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
9	Chilumula, Anika	6/15/2023	4843	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $15,000.00 GUC $0.00 Total $15,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $15,000.00 Total $15,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
10	Daffer, Kevin L	9/12/2023	17176	Bed Bath & Beyond Inc.	Secured $73,597.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $73,597.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $73,597.00 Total $73,597.00	Claim is not entitlеd to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
11	Dobson, Brad	5/30/2023	3057	Bed Bath & Beyond Inc.	Secured $5,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $5,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $5,000.00 Total $5,000.00	Claim is not entitled to administrative, priority or securеd status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.

#	Name of Claimant	Date Claim Filed	Claim Number	Debtor Name	Asserted Claim Amount	Reclassified Claim Amount	Reason for Reclassification
12	DuBrul, Jack B	7/5/2023	13023	Bed Bath & Beyond Inc.	Secured $0.00 Admin $11,942.15 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $11,942.15	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $11,942.15 Total $11,942.15	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to rеclassify the claim as a Class 6 General Unsecured Claim.
13	GIBSON, RONALD GENE	7/5/2023	13409	Bed Bath & Beyond Inc.	Secured $36,710.80 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $3,289.20 Total $40,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $40,000.00 Total $40,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator ‍‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‍asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
14	Johnsson, Denise Karin	6/21/2023	18809	Bed Bath & Beyond Inc.	Secured $20,000.00 Admin $0.00 503(b)(9) $20,000.00 Priority $0.00 GUC $0.00 Total $40,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $40,000.00 Total $40,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
15	Keeler, Jennifer Ann	6/28/2023	7677	Bed Bath & Beyond Inc.	Secured $25,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $1,883.69 Total $26,883.69	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $26,883.69 Total $26,883.69	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
16	LeBlanc, John M.	7/3/2023	12843	Bed Bath & Beyond Inc.	Secured $22,882.50 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $22,882.50	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $22,882.50 Total $22,882.50	Claim is not entitled to administrative, priority or secured stаtus. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
17	Merola, Sylvia	5/19/2023	1749	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $73,440.80 GUC $0.00 Total $73,440.80	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $73,440.80 Total $73,440.80	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reсlassify the claim as a Class 6 General Unsecured Claim.
18	Mettu, Archana	6/14/2023	4382	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $473,000.00 GUC $0.00 Total $473,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $473,000.00 Total $473,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 Generаl Unsecured Claim.
19	Moncino, Daniel Joseph	6/7/2023	3721	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $25,000.00 Priority $0.00 GUC $0.00 Total $25,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $25,000.00 Total $25,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
20	Moncino, Daniel Joseph	8/14/2023	16213	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $20,000.00 Priority Unliquidated GUC $0.00 Total $20,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $20,000.00 Total $20,000.00	Claim is not entitled to аdministrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.

#	Name of Claimant	Date Claim Filed	Claim Number	Debtor Name	Asserted Claim Amount	Reclassified Claim Amount	Reason for Reclassification
21	Mount, Linda L	6/14/2023	4254	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $30,495.00 GUC $0.00 Total $30,495.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $30,495.00 Total $30,495.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
22	R Gregory Sandra L. Heslop	6/26/2023	11496	Bed Bath & Beyond Inc.	Secured $30,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $30,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $30,000.00 Total $30,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
23	Robert H Frey jr. & Charlotte Frey TTEES the Frey Family Trust	5/28/2023	2877	Bed Bath & Beyond Inc.	Secured $7,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $7,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $7,000.00 Total $7,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsеcured Claim.
24	Shelton, Robert	6/20/2023	12870	Bed Bath & Beyond Inc.	Secured $25,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $25,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $25,000.00 Total $25,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator ‍‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‍asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
25	Shelton, Shirley	6/20/2023	9332	Bed Bath & Beyond Inc.	Secured $25,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $25,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $25,000.00 Total $25,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
26	Sims, Ronald Frank	6/12/2023	5367	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $5,000.00 GUC $0.00 Total $5,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $5,000.00 Total $5,000.00	Claim is not entitled to administrative, priority or secured status. The Plаn Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
27	Steik Jr, Gerald Raymond	9/30/2023	17289	Buy Buy Baby, Inc.	Secured $0.00 Admin $0.00 503(b)(9) $5,000.00 Priority $0.00 GUC $0.00 Total $5,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $5,000.00 Total $5,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
28	Steinmetz, Keith	5/30/2023	3002	Bed Bath & Beyond Inc.	Secured $5,000.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $0.00 Total $5,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $5,000.00 Total $5,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
29	Storozum, Pamela	12/16/2024	20481	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $10,000.00 GUC $0.00 Total $10,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $10,000.00 Total $10,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.

#	Name of Claimant	Date Claim Filed	Claim Number	Debtor Name	Asserted Claim Amount	Reclassified Claim Amount	Reason for Reclassification
30	Stratton, Yvonne E	6/23/2023	9376	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $2,000.00 GUC $0.00 Total $2,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $2,000.00 Total $2,000.00	Claim is not entitled to administrativе, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
31	Stratton, Yvonne E	6/23/2023	11511	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $2,000.00 GUC $0.00 Total $2,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $2,000.00 Total $2,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
32	Sun, Qiuxia	8/15/2023	16279	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $13,350.00 GUC $0.00 Total $13,350.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $13,350.00 Total $13,350.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the сlaim as a Class 6 General Unsecured Claim.
33	Thomas, Norval Wade	7/5/2023	13697	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $10,000.00 GUC $0.00 Total $10,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $10,000.00 Total $10,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecurеd Claim.
34	Thomas, Tonna L.	7/5/2023	13456	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $9,000.00 GUC $0.00 Total $9,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $9,000.00 Total $9,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
35	William R. Russell Contributory IRA, Charles Schwab	6/29/2023	12716	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $25,000.00 GUC $0.00 Total $25,000.00	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $25,000.00 Total $25,000.00	Claim is not entitled to administrative, priority or secured status. The Plan Administrator ‍‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‍asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.
36	ZIMMERMANN-GEISMAR, KATHY ANN	6/19/2023	9018	Bed Bath & Beyond Inc.	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $24,580.52 GUC $0.00 Total $24,580.52	Secured $0.00 Admin $0.00 503(b)(9) $0.00 Priority $0.00 GUC $24,580.52 Total $24,580.52	Claim is not entitled to administrative, priority or secured status. The Plan Administratоr asks the Court to reclassify the claim as a Class 6 General Unsecured Claim.

Notes

The last four digits of Debtor Bed Bath & Beyond Inc.‘s tax identification number are 0488. A complete list of the Debtors in these chapter 11 cases and each such Debtor‘s tax identification number may be obtained on the website of the Debtor‘s proposed claims and noticing agent at https://restructuring.ra.kroll.com/bbby.

Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Objection.