A Neiman Marcus Group Ltd. bondholder that has sued the luxury retailer over a recent transfer of its MyTheresa e-commerce unit sent a letter to the company’s board on Wednesday demanding the company withdraw its counterclaim and asserting that other creditors share its concerns, WSJ Pro Bankruptcy reported. Marble Ridge Capital LP, the bondholder, and Neiman Marcus recently sued each other in a district court in Dallas over a dispute involving the internal transfer of MyTheresa, a fast-growing Munich-based online business that caters to customers in Europe, Asia and the Middle East. In its latest missive, Marble Ridge asserts that it and other creditors have “serious concerns regarding Neiman’s financial condition.” Marble Ridge also says in the letter that other creditors share its concerns about the MyTheresa transfer. In September, Neiman Marcus moved MyTheresa from an unrestricted subsidiary to its parent company. Neiman’s creditors say the transfer weakened their claims on the unit. Marble Ridge’s lawsuit accuses the luxury retailer of a fraudulent transfer of MyTheresa. Neiman Marcus responded by suing Marble Ridge, accusing it of spreading false statements about the company being in default under its debt documents and asking the court to dismiss Marble Ridge’s lawsuit.
