NEW YORK: A New York Supreme Court Justice sided with J. Crew Group Inc in a dispute with some of its senior lenders, allowing the US preppy retailer to move forward with a restructuring deal to cut its US$2.1bil debt pile.
The lenders had asked Justice Shirley Werner Kornreich to halt the deal because it unfairly gave collateral in the company, the J. Crew brand, to J. Crew’s junior creditors.
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