Saks Global Unsecured Creditors Committee Comes Together [Yahoo! Finance]
Brookfield Asset Management Inc. (BAM)
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bam.brookfield.com/en
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Source: Yahoo! Finance
Although the hopes that they'll ever be paid more than pennies on the dollar evaporated when the retailer filed for bankruptcy last month, apparel brands and other creditors now have a collective voice in the Chapter 11 process. More from WWD In Drastic Downsizing, Saks Off Fifth Shuttering 57 Locations, E-commerce Team Play: Who's Doing What at Saks Global? Simon Property Moved to Terminate Two Saks Global Leases Just Before Bankruptcy Last week, the court appointed 11 creditors to the Official Committee of Unsecured Creditors. As is usually the case, they are among those with the most at stake in the bankruptcy. The list of committee members reads like a who's who of fashion companies that were left holding the bag one way or another. It includes: Amazon.com — which owns 23.2 percent of the retailer's equity and was promised $900 million in referral payments over eight years. Chanel Inc. — the largest unsecured creditor with a $136 million claim. Pension Benefit
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