Canada Nine West Operator Gets US Bankruptcy Recognition

Law360, New York (July 27, 2015, 5:35 PM EDT) -- The Canada operator of Nine West shoe stores got its Canadian restructuring recognized in the U.S. on Monday, a development that prevents the company's stateside creditors from unilaterally terminating a valuable Nine West licensing deal.

U.S. Bankruptcy Judge Sean Lane in Manhattan granted Sherson Group Inc.'s bid for Chapter 15 recognition under the U.S. Bankruptcy Code, protecting the business from creditors in New York and Delaware. Amid a liquidity crunch while operating 48 retail locations throughout the provinces, Sherson had sought protection last month under Canadian...
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