Law360, New York (October 11, 2010, 8:13 PM ET) -- The official committee of unsecured creditors for defunct credit card processor Cynergy Data LLC has filed suit against the company’s former majority shareholder, seeking to claw back $39 million in allegedly fraudulent transfers made during the company’s insolvency.
The adversary complaint, filed Friday in the U.S. Bankruptcy Court for the District of Delaware, accuses Marcelo Paladini — a Cynergy officer and owner of 92 percent of the company’s shares when it filed for bankruptcy — of using Cynergy’s reserve funds to enact insider transfers for the...
Cynergy Creditors Committee Seeks $39M From Exec
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