Neiman Marcus Isn't Dropping Defamation Claims Against Marble Ridge

Neiman Marcus said Wednesday it plans to pursue the defamation and business disparagement charges it filed against a New York-based distressed debt investor Marble Ridge Capital. The decision came after Dallas County District Court Judge Tonya Parker denied a motion by Marble Ridge on Tuesday to dismiss Neiman Marcus' counterclaims against the firm.The original lawsuit was filed in December by Marble Ridge who alleged that the retailer had fraudulently transferred its European e-commerce subsidiary MyTheresa, which is valued at $1 billion, out of reach of creditors. Judge Parker threw out that part of the case in March. Then Marble Ridge moved to dismiss the counter lawsuit by Neiman Marcus. "We look forward to advancing our defamation and business disparagement claims against Marble Ridge," Neiman Marcus said in a statement. "We are pleased the court denied Marble Ridge's motion to dismiss in its entirety."In its counterclaim against Marble Ridge, Neiman Marcus said that the debt investor "recklessly made false statements regarding the company's compliance with its debt documents with the intent of damaging the company."Marble Ridge said in a statement that regardless of the judge's ruling, it does nothing to change Marble Ridge's views about the retailer's questionable financial condition.The firm said it continues to believe that the transfer of MyTheresa to the retailer's shareholders, who led a $6 billion leveraged buyout of the company in 2013, impairs all other Neiman Marcus stakeholders. Neiman Marcus has negotiated a debt restructuring of its almost $5 billion in debt by extending maturities out by three years to 2023 and 2024.Twitter: @MariaHalkias  Continue reading...