A Texas judge Tuesday dismissed a bondholder lawsuit against Neiman Marcus Group over the company’s transfer of its MyTheresa e-commerce business beyond the reach of bondholders, WSJPro reported. Judge Tonya Parker of Dallas County District Court dismissed a lawsuit filed in December by Marble Ridge Capital LP that alleged that the company’s transfer of its MyTheresa e-commerce business was a fraudulent transaction. Judge Parker cited the lack of “subject matter jurisdiction” for the ruling, meaning Marble Ridge doesn’t have standing to bring the lawsuit. The verdict removes one hurdle to Neiman Marcus’s ongoing debt-restructuring talks with bondholders and lenders. The department store chain is in talks with its creditors to extend the maturity of $4.7 billion in debt to 2023. Those talks didn’t include Marble Ridge. MyTheresa is a fast-growing Munich-based online business that caters to customers in Europe, Asia and the Middle East. In September, Neiman Marcus transferred ownership of MyTheresa to its parent company, which weakened bondholders’ claims on the business.
