Tilton, Zohar Both Tell Chancery They Control Stila Styles

By Leslie A. Pappas (June 22, 2022, 7:32 PM EDT) -- Delaware Chancery Court Chancellor Kathaleen St. J. McCormick got a crash course Wednesday in what she called "a very long and bitter control dispute" for Stila Styles Inc., as distressed debt diva Lynn Tilton and an investment fund she once owned both claimed they had the right to manage the cosmetics company.

At a hearing in Wilmington, Tilton furiously handed scribbled notes to her attorneys as counsel for the fund, Zohar III Ltd., insisted that a May 31 ruling from Vice Chancellor Joseph R. Slights III gave Zohar the right to appoint Stila's manager.

The court "unambiguously stated" that Zohar has...

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