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Neiman Marcus Group

The firm was counsel to the creditors' committee in the chapter 11 bankruptcy cases of luxury retailers Neiman Marcus and Bergdorf Goodman in the Bankruptcy Court for the Southern District of Texas. The firm negotiated a favorable settlement following an extensive investigation into the prepetition transfer of the MyTheresa brand away from Neiman Marcus and potential claims arising from the transaction. Under the global settlement, unsecured creditors—originally slated to a negligible recovery under the debtors’ plan—will instead receive a combination of stock and a cash pool of $10.0 million for general unsecured creditors undiluted by any lender deficiency claims.