Barneys Calls Noteworthy Fact That In Press Statement Isetan's Lawyers Did Not Dispute the Fact That Isetan Let Its Security Interest In Royalty Stream Lapse.NEW YORK--(BUSINESS WIRE)--Sept. 22, 1996--Barneys Inc. today issued the following statement in response to remarks made by Isetan's lawyers: "Hyperbole hyperbole (hīpûr`bəlē), a figure of speech in which exceptional exaggeration is deliberately used for emphasis rather than deception. aside, the fact is that Isetan violated the terms of its licensing agreement for use of the Barneys NY name in Japan and Asia -- in not just one instance, but several. We believe it is noteworthy that Isetan's lawyers do not dispute in their press release the fact Isetan and its lawyers let its security interest in the royalty stream lapse in January 1995, and as a result, Barneys is entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to the royalties. Isetan has wrongfully wrong·ful adj. 1. Wrong; unjust: wrongful criticism. 2. Unlawful: wrongful death. withheld these royalties from Barneys without legal justification and it would therefore be dishonorable dis·hon·or·a·ble adj. 1. Characterized by or causing dishonor or discredit. 2. Lacking integrity; unprincipled. dis·hon for them to retain them. We remain confident that we will prevail." CONTACT: Sitrick And Company Michael Sitrick or Ann Julsen, 310/788-2850 |
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