Bling/Jewelry News Flash. Fred Leighton Files Chapter 11!

April 15, 2008 • Accessories


According to WWD, Ralph Esmerian put Fred Leighton into Chapter 11 bankruptcy protection
to halt the auction Tuesday of a collection of fine jewels and gems.

115-piece collection was set to be auctioned off at Christie’s at 6:00pm
today, but the bankruptcy filing prevents any creditors from collecting
on their debt, said Helen Davis Chaitman, who works at Phillips Nizer
and is Esmerian’s attorney. At 5:00 Chaitman said she was going to stop
the auction and had notified Merrill of the filing.

Apparently, Esmerian
still owes Merrill Lynch about $180 million on loans he used to finance
his 2006 purchase of the Leighton business. He missed part of a payment
in the fall and has been tangling with Merrill in court since.

Source: WWD

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One Response to Bling/Jewelry News Flash. Fred Leighton Files Chapter 11!

  1. janet says:

    Fred Leighton Collection is the world’s most prestigious collection of beautiful jewelry, each piece reflecting an important period of jewelry design.

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