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Neiman Marcus Delays Bankruptcy Hearing as Plan Hits Roadblocks

July 16, 2020, 7:04 PM

Objections from dissenting creditors are threatening to delay Neiman Marcus’s bankruptcy restructuring after the group said an acceptable plan must preserve the right of minority stakeholders to pursue legal claims related to a 2018 asset transfer.

The retailer asked U.S. Bankruptcy Judge David Jones to postpone a hearing on certain details of its plan to July 21 as it looks to address concerns from lower-ranking creditors.

Neiman filed for Chapter 11 bankruptcy May 7 after striking an agreement to let senior creditors take control of the chain. But lower-ranking creditors say the court must first allow a full investigation ...

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