Mervyn's Fights Citigroup For Return Of Rent Payments

Law360, New York (December 21, 2009, 1:47 PM EST) -- Bankrupt department store chain Mervyn's Holdings LLC has sued Citigroup Global Markets Realty Corp. for the return of rent-related payments made after the financial giant helped refinance the companies that owned the properties housing the chain's stores.

The adversary complaint — filed Friday in the U.S. Bankruptcy Court for the District of Delaware — takes issue with a series of transactions in 2004 and 2005 that shifted ownership of Mervyn's from Target Corp. to a group of private equity companies, which stripped the chain's real estate...
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