Tamara Mellon, ex-chief executive of Jimmy Choo, has won a case against her former backers that will allow her brand to emerge from bankruptcy.
A US court in Delaware has approved plans to restructure Mellon’s business, Tamara Mellon Brand, which include a $10m (£7m) investment from venture capital firm New Enterprise Associates and $2m (£1.4m) from Mellon herself.
David Ross, co-founder of Carphone Warehouse, Icap boss Michael Spencer and former Tory trade minister Lord Marland, were among a group of investors who objected to Mellon’s plans to take control of her new fashion venture under American bankruptcy protection laws.
The three investors were accused by Mellon’s lawyers of wasting the court’s time with “petty squabbles” and “distasteful” attacks on her character, according to The Sunday Times.
Tamara Mellon Brand filed for US bankruptcy protection after underwhelming sales. Mellon had forecast that her eponymous brand would make $74.5m (£52.2m) in sales last year, but they came in at $8m (£5.6m).