Neiman Marcus Creditor Marble Ridge Sues Over Asset Transfer
- Retailer made German unit a direct subsidiary of parent entity
- Marble Ridge says move constitutes ‘fraudulent transfer’
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A lender to Neiman Marcus Group Ltd. is taking the retailer to court over the recent transfer of a valuable subsidiary, which the company moved to a corporate parent entity out of the reach of creditors.
Marble Ridge Capital LP filed a complaint in Dallas court Monday alleging that the shuffle of ecommerce unit MyTheresa constituted a “fraudulent transfer of assets totaling approximately $1 billion of value for no consideration,” according to a statement.