Simply Fashion Creditors Go After Insiders' Claims

Law360, Miami (August 6, 2015, 6:35 PM EDT) -- The creditors of bankrupt retail chain Simply Fashion Stores Ltd. sued the company's owners Wednesday claiming they ran it into the ground and drained it of cash before plunging it into Chapter 11 bankruptcy in Florida.

The unsecured creditors' committee accused Swapnil Shah, Shail Shah and Bhavana Shah, who owned Simply Fashion, of setting up shell companies that loaned Simply Fashion money as a short-term solution to the company's issues with capital.

The creditors want the millions of dollars in claims asserted by the Shahs, their...
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Case Information

Case Title

Adinath Corp. et al.,


Case Number

1:15-bk-16885

Court

Florida Southern

Nature of Suit

Date Filed

April 16, 2015

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