[DECHERT LLP LOGO]
July 7, 2005
Bernard Chaus, Inc.
530 Seventh Avenue
New York, New York 10018
BOSTON Ladies and Gentlemen:
BRUSSELS On the date hereof, Bernard Chaus, Inc., a New York
corporation (the "Company"), intends to transmit for filing
CHARLOTTE with the Securities and Exchange Commission (the "Commission"),
a Registration Statement under the Securities Act of 1933, as
FRANKFURT amended (the "Act"), on Form S-8 (the "Registration
Statement"), relating to 5,038,409 shares (the "Shares") of
HARRISBURG common stock, par value $.01 per share (the "Common Stock"), of
the Company, which are being offered pursuant to the Bernard
HARTFORD Chaus, Inc. 1998 Stock Option Plan, as amended to date (the
"Plan"). Together with the 2,711,591 shares registered under a
LONDON Registration Statement on Form S-8 (Registration No. 333-56257)
the Plan covers an aggregate of 7,500,000 shares of Common
LUXEMBOURG Stock. This opinion is an exhibit to the Registration
Statement.
MUNICH
We have at times acted as special counsel to the Company
NEW YORK in connection with certain corporate and securities matters,
and in such capacity we are familiar with the various corporate
NEWPORT BEACH and other proceedings relating to the proposed offer and sale
of the Shares as contemplated by the Registration Statement.
PALO ALTO
In connection with this opinion, we have examined and are
PARIS familiar with originals or copies, certified or otherwise
identified to our satisfaction, of (i) the Certificate of
PHILADELPHIA Incorporation of the Company as presently in effect, (ii) the
Company's By-Laws as presently in effect, (iii) minutes and
PRINCETON other instruments evidencing actions taken by the Company's
directors and stockholders, (iv) the Plan and (v) the form of
SAN FRANCISCO option agreements, which we understand will be used by the
Company in connection with grants under the Plan. In our
WASHINGTON examination of all such agreements, documents, certificates and
instruments, we have assumed the genuineness of all signatures,
the authenticity of all agreements, documents, certificates and
instruments submitted to us as originals and the conformity
with the originals of all agreements, documents, certificates
and instruments submitted to us as certified, conformed or
photostatic copies. Insofar as this opinion relates to
securities to be issued in the future, we have assumed that all
applicable laws, rules and regulations in effect at the time of
such issuance will be the same as such laws, rules and
regulations in effect as of the date hereof.
July 7, 2005
Page 2
Our opinion herein is based solely upon the Business Corporation Law of the
State of New York, and we express no opinion with respect to any other laws
(including, without limitation, the application of the securities or "Blue Sky"
laws of any state to the offer and/or sale of the Shares).
Based on the foregoing, and subject to and in reliance upon the accuracy
and completeness of the information relevant thereto provided to us, it is our
opinion that the Shares have been duly authorized, and (subject to the
effectiveness of the Registration Statement and compliance with applicable state
laws (including securities laws) of the states in which the Shares may be
offered and sold), when issued in accordance with the terms of the Plan and any
applicable option agreement for options issued thereunder, will be legally and
validly issued, fully paid and non-assessable.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and as an exhibit to any filing made by the Company under
the securities or other laws of any state of the United States in which the
Shares may be offered and sold. In giving such consent, we do not thereby admit
that we are in the category of persons whose consent is required under Section 7
of the Act, or the rules and regulations of the Commission thereunder.
This opinion is furnished to you in connection with the filing of the
Registration Statement, and is not to be used, circulated, quoted or otherwise
relied upon for any other purpose, except as expressly provided in the preceding
paragraph, without our express written consent. This opinion is rendered to you
as of the date hereof, and we undertake no obligation to advise you of any
change in any applicable law or in facts or circumstances which might affect any
matters or opinions set forth herein.
Very truly yours,
/s/ DECHERT LLP