MONTREAL, July 24, 2012 /CNW Telbec/ - The United States Court of
Appeals has sided with Georges Marciano ordering that all procedures
regarding the involuntary bankruptcy be suspended thereby ordering the
US trustee David Gottlieb to cease all procedures, including the sale
Mr Marciano's belongings and four properties in the Los Angeles area.
Guess Jeans founder Georges Marciano, involved in a California court
saga, appealed Judge Elizabeth White's ruling to pay $260 million in
moral and punitive damages to former employees and affiliated parties
solely by default; this verdict was rendered without giving Mr.
Marciano the opportunity to present any defense. For Mr. Marciano's US
attorneys, Daniel J. McCarthy and Michael E. Reznick, this latest Court
of Appeal ruling is a significant step in the right direction
recognizing the merit of Mr. Marciano's position.
This decision from the U.S.Court of Appeals is a second win for Mr.
Marciano in recent weeks since he has also just won a case before the
California Court of Appeal, which deemed the damages of $55 million
awarded by Judge Elizabeth White in one case to Gary Iskowitz, his wife
and his business partner, to "shock the conscience," being based on
insufficient proof. The three judges at the California Court of Appeal
unanimously reversed that award and ordered the matter to be remanded
to a different judge, finding Judge White abusive and that she had
repeatedly personalized the issue of damages. The appeal from the
remaining $205 million in judgments remains pending before the same
State Court of Appeals.
Furthermore, on December 8, 2011, Honourable Justice Mark Schrager of
the Superior Court of Quebec deemed the seizures of goods belonging to
Mr. Marciano and third parties (money, property, artworks, luxury cars,
jewels, and so forth) by the US trustee David Gottlieb to be illegal
and cancelled them. He ordered the US trustee and
PricewaterhouseCoopers to return, at their own expense, all assets
seized from Mr. Marciano and the third parties involved, including the
documents that were seized.
NOTE: A copy of the California Court of Appeal's ruling can be found at:
SOURCE: ENIGMA COMMUNICATIONS INC.
For further information:
Phone: 514 982-0308, ext. 207
Pager: 514 221-2604