Federal Appeals Court Rules In Favor Of Lynn Tilton's Galey & Lord, Reversing Verdict In Georgia

NEW YORK, Aug. 13, 2013 /PRNewswire/ -- The United States Court of Appeals for the Eleventh Circuit has ruled in favor of Lynn Tilton's Galey & Lord, overturning a Georgia jury's verdict. In a dispute involving a joint venture between Swift Textiles (Galey & Lord's denim manufacturing division) and Denim North America Holdings, LLC, the appellate court vacated the jury's verdict, which would have unwound the venture. The appeals court judgment is a victory for Tilton's entities Galey & Lord, Swift Textiles and Patriarch Partners, LLC on all claims.

Tilton's companies were represented by Hillary Richard of Brune & Richard. "The Eleventh Circuit concluded what we knew from the outset – that the claims against our clients were unsustainable as a matter of law. We are extremely pleased with the decision," Richard said. 

This is the third consecutive major legal victory for Tilton.

In June, Judge Robert W. Sweet of the Southern District of New York ruled in favor of Tilton, dismissing a $100 million dollar lawsuit brought by MBIA. In his ruling, Judge Sweet stated that Tilton was "vigorous, authoritative, informed and almost entirely supported by documentary evidence." Judge Sweet also stated that Tilton "was an effective witness and in the main entirely credible." Last month, an arbitration panel ruled in favor of Tilton's MD Helicopters in a dispute with Boeing. That arbitration will enable MD Helicopters to continue competing against Boeing for important military contracts.

ABOUT PATRIARCH PARTNERS, LLC:
Patriarch Partners, LLC, is an investment firm and holding company managing 75 companies with annual revenues in excess of $8 billion. Founded by Wall Street veteran Lynn Tilton in 2000, Patriarch is dedicated to saving American manufacturing jobs by saving American companies that have fallen from economic favor. Since inception, the Patriarch family of funds have bought more than 150 companies, and in so doing have saved over 250,000 jobs. Patriarch's platform includes a broad range of industrial concerns including Dura Automotive, Oasis Water and American LaFrance, in addition to iconic American brands such as Rand McNally, MD Helicopters, Stila Cosmetics and Spiegel Catalogs. Under Ms. Tilton's leadership, Patriarch has become the largest woman-owned business in America with companies in its platform providing employment to more than 120,000 persons. For more information, please visit: www.patriarchpartners.com.

Contact:
Davidson Goldin
646-660-8640
[email protected]   

SOURCE Patriarch Partners, LLC