Golf star Jack Nicklaus lost his bid to block $17 million in financing for the bankruptcy of his former golf services business provided by affiliated entities of banker and entrepreneur Howard Milstein.
The loan can move forward subject to clarifications regarding the which intellectual property can be transferred under the financing agreement, Judge Craig T. Goldblatt of the US Bankruptcy Court for the District of Delaware said during a Wednesday hearing.
The financing terms provide Milstein-affiliated FundNick LLC and PMP Nick LLC certain rights to Nicklaus’ IP, particularly Nicklaus-related brands and trademarks such as Golden Bear.
A New York state ...