Neiman Marcus Trust Rakes in $55 Million From MyTheresa Equity

A bankruptcy trust for Neiman Marcus Group Ltd.'s unsecured creditors sold 140 million shares in the holding company of e-commerce brand MyTheresa for $55 million nearly five years after accepting the equity to settle fraudulent transfer claims.

Neiman Marcus’ general unsecured creditors will see a return of nearly 14% on $418 million in claims stemming from the retailer’s 2020 bankruptcy case, according to a filing in the US Bankruptcy Court for the Southern District of Texas.

The trust, which is set to terminate in late September, accepted an offer after conducting a sale process between October and April as MyTheresa ...