Amazon launches legal battle against bankrupt Saks Global over ‘wasted' investment

A major legal battle is underway between Amazon and Saks Global, with the e-commerce giant vowing to use “all available legal remedies” to recover $475 million it claims it is owed in the luxury retailer’s recently filed bankruptcy.In a Wednesday hearing in US Bankruptcy Court in Houston, Amazon said it was burned by a soured web partnership with the swanky retailer — and objected to Saks Global’s proposal for a $1.75 billion debtor-in-possession, or DIP, loan to keep its operations going during a Chapter 1 ...