DALLAS (1080 KRLD) - The judge in the Neiman Marcus bankruptcy is not happy with some of the proceedings.
US Bankruptcy Judge David Jones has directed the official creditors committee to look into the 2018 transfer of a division of Neiman Marcus to two former shareholders, the Canada Pension Plan Investment Board and Ares Management.
Critics say those two led the 2013 leveraged buyout that saddled Neiman Marcus with the kind of debt that led to the company's bankruptcy.
Referring to two Neiman Marcus directors the company assigned to investigate the transfer, Jones said he did not "want to see a fiduciary to this estate ever appear in front of me, ever again, unprepared, uneducated and borderline incompetent."
