Neiman Marcus Seeks $55 Million From Nemesis Marble Ridge
- Judge warns that he doesn’t trust hedge fund manager
- Marble Ridge agrees to escrow money until at least next month
Photographer: Bing Guan/Bloomberg
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Neiman Marcus Group Inc. asked a judge to prevent hedge fund Marble Ridge Capital LP from disbanding until the firm guarantees it can pay as much as $55 million in potential damages related to the actions of its founder.
The retailer is seeking a temporary restraining order and compensation for alleged damages caused by the firm after Marble Ridge’s money manager Dan Kamensky was accused of trying to manipulate the bidding process in its bankruptcy case.