BARNEYS HEARING POSTPONED
NEW YORK — Whether Isetan Co. Ltd. is Barneys’ landlord or an equity partner may not be decided until Monday afternoon.
A hearing on the matter has been postponed by Manhattan Bankruptcy Court Judge James L. Garrity until then. It had been scheduled for today.
Also pushed ahead to Monday is a hearing on the royalty payments Barneys claims it is owed by Isetan on a Asian license agreement that Barneys said it terminated in September 1996.
Professionals in the case met Wednesday regarding their requests for a total of $4.5 million in fees for the four-month period ended Dec. 31. Judge Garrity will rule on the matter Monday after reviewing objections by the U.S. Trustee and Isetan. The U.S. Trustee has requested a hold-back larger than the 25 percent that has been customary in this case. The largest request was by LeBoeuf, Lamb, Greene & MacRae, Barneys’ lead bankruptcy counsel, for $2.1 million.