5 Issues to Watch in the Diamond Industry

1 The Future of Memo The liquidation of Whitehall Jewelers wasn't pleasant for the industry. But it's quite possible it could have taken the rest of the industry down with it. Whitehall, then owned by a hedge fund and a bank, engaged in a prolonged legal war over ownership of the chain's millions in consigned goods. The chain contended that since some of the UCCs were not “perfected,” it could sell those goods to its benefit. Many thought, if Whitehall prevailed, it would have changed how the trade dealt in consignment. The industry eventually retained ownership of its goods, but it was a clear warning that the rules had changed. One of the lawyers involved in the fight, Lawrence Ginsburg of Moses Singer, predicted that, with non-traditional players like hedge funds increasingly playing a role in the industry, these fights will be more common. “This is no longer a handshake
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out