Ex-Nine West Insiders Fight Ch. 11 Suit Over $1B Payments

Law360 (August 13, 2020, 5:20 PM EDT) -- Former shareholders, officers and directors of Nine West Holdings' former parent company asked a New York federal judge Thursday to end a suit over $1 billion they received from the bankrupt fashion business, saying the transactions at issue are protected by safe harbor rules.

In a telephone hearing before U.S. District Judge Jed Rakoff, counsel for former shareholders and insiders of The Jones Group argued that the 2014 transactions at issue in the suit are not subject to clawback as fraudulent conveyances because they were securities transactions handled by a bank acting as Nine West's agent.

The suit by Nine West...

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