Amazon is fighting to keep bankrupt luxury retailer Saks Global from pushing it further down the debt repayment list, with the e-commerce giant’s lawyers arguing that mismanagement rendered a $475M equity investment in the retailer from 2024 worthless.

The filing and arguments from Amazon signal it plans to fight Saks’ reorganization plan. Without relief, the corporate giant’s attorneys said they may have to “seek more drastic remedies,” including a liquidation of Saks’ flagship property.

“Amazon frames this dispute as part of a larger pattern of misconduct, including ignoring corporate separateness, disregarding contractual consent rights, mismanagement leading to insolvency, and using Chapter 11 to reallocate value away from certain creditors,” Daniel Gielchinsky, a bankruptcy attorney and partner at DGIM Law, said in an email.