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JCK 5: In the Courts…

News Gems
By JCK Staff
This story appears in the October 2010 issue of JCK magazine
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JCK 5: In the Courts…
Shane Co.

1. Englewood, Colo.–based Shane Co. is seeking an official exit from Chapter 11. The 20-store chain filed a reorganization plan that calls for Thomas Shane and various family trusts to retain ownership.

2. Los Angeles-based American International Gem­ol­ogists filed for Chapter 7 bankruptcy in July. Total assets are listed at $2,800 and liabilities at $216,724.11.

3. The LP Watch Group—the Holly­­wood, Fla., maker of Lucien Piccard watches—has sought Chapter 11 protection. The 87-year-old group lists total assets as $10,567,549.50, and liabilities at $11,964,117.27. 

4. Ex–Carlyle and Co. CEO Rus­sell Cohen is not liable for obliga­tions incurred by Adamas Partners, ruled the U.S. Bankruptcy Court, Southern Dis­­trict of New York. Cohen’s Adamas had agreed to buy 14 Carlyle stores, but pulled out when Rolex withdrew its support.

5. Cartier is suing “flash” site Haute­look for allegedly selling damaged and secondhand Cartier goods without permission.

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