Mervyn's Points Finger For Ch. 11 At Former Owners

Law360, New York (September 4, 2008, 12:00 AM EDT) -- Bankrupt department store chain Mervyn's LLC has filed a lawsuit against its former private equity owners and its former parent, saying the firms' purchase of the company from Target Corp. stripped it of its real estate assets and set the company up for failure.

The lawsuit, which was filed as an adversary proceeding in the company's bankruptcy in U.S. Bankruptcy Court for the District of Delaware, takes issue with the $1.26 billion deal that led Target to sell the company in 2004 to Sun Capital Partners...
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