Retail Industry
Industry: Email Alert RSS FeedIsetan once again getting personal with Pressmans.(Barneys New York's business partner Isetan plans to sue Barneys' co-chairmen Gene Pressman and Robert Pressman for failure to pay off personal loans made to Barneys)
Daily News Record, July, 1996 by Siegel, Jeff
Barneys New York's business partner Isetan plans to sue Barneys' co-chairmen Gene Pressman and Robert Pressman for failure to pay of $170 mil in personal loan guarantees it made to Barneys starting in 1993. Barneys considers Isetan's loans as an equity investment, and Isetan considers its investments in Barneys as loans. Barneys claims that Isetan's new court action might affect its bankruptcy reorganization efforts and the mediation process between the sides.
NEW YORK (FNS) - Barneys New York and Isetan dusted off an old-but-bitter rivalry Monday as the retailer's global business partner asked the bankruptcy court once again for permission to sue Barneys' co-chairmen, Robert and Gene Pressman, for $170 million In loans to Barneys the two personally guaranteed. ...
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