9th Circ. OKs Forced Ch. 11 Petition Against Guess Founder

Law360, New York (February 27, 2013, 8:29 PM EST) -- Guess Inc. co-founder Georges Marciano was dealt a blow by the Ninth Circuit Wednesday when it ruled that three former employees who had won a more than $95 million award against him were not wrong to force him into bankruptcy to claim that amount, even though he was appealing that award.

Those employees were entitled to be paid the amount immediately after the court handed them the win, the appeals court ruled, finding they had valid claims against Marciano when they filed an involuntary bankruptcy petition...
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