Neiman Marcus Actions Need Bankruptcy Examiner, Creditor Says

May 15, 2020, 6:40 PM

A court-approved bankruptcy examiner should investigate Neiman Marcus’s 2018 asset shuffle that weakened creditor claims on the luxury retailer’s fast-growing online MyTheresa unit, Marble Ridge Capital said in court papers filed Friday.

  • “As this Court is aware, in the opinion of Marble Ridge, the MyTheresa Transactions expose the LBO sponsors to fraudulent transfer claims that could exceed $1 billion dollars,” according the filing
  • Marble Ridge has long argued against Neiman’s actions and filed a lawsuit in 2018 to reverse the transfer
  • Neiman has proposed that an independent director investigate the transactions and decide whether to settle any claims and for ...

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