Oaktree Capital Management has sued BJ's Wholesale Club Holdings (BJ), alleging the company backed out of a deal to sell its rights to about $29 million in tariff refunds, Bloomberg reported on Tuesday.

Oaktree alleged BJ's agreed to sell the claims for roughly $20 million, but later walked away as the value of tariff refund claims rose. The firm described the move as "unlawful and bad-faith seller's remorse."

The dispute comes as refund claims have surged in value following a U.S. Supreme Court ruling that struck down several of President Donald Trump's former tariffs.

Oaktree said the agreement had been fully negotiated, with only final execution remaining, before BJ's invoked a Walk Away provision, the report said.

Oaktree and BJ's did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 91.65, Change: -1.24, Percent Change: -1.33