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Indian Bank Raises Fraud Concern In Samuels' Del. Ch. 11

Law360 (August 8, 2018, 8:36 PM EDT) -- India’s second-largest national bank confirmed its interest Wednesday in the day-old Delaware Chapter 11 of Samuels Jewelers Inc., citing ongoing probes of jewelry chain fraudsters in India and the bankruptcy of a jewelry retailer in New York with ties similar to Samuels’.

Sean A. O’Neal of Cleary Gottlieb Steen & Hamilton LLP, counsel to Punjab National Bank, told U.S. Bankruptcy Judge Kevin Carey that individuals with past ties to Samuels were named in a $2 billion fraud investigation in India outlined in a National Company Law...
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