Sabertooth Sues Lender For $4M Over Ch. 11 Failure

Law360, New York (July 8, 2011, 4:59 PM EDT) -- Sabertooth LLC, a Pennsylvania real estate holder whose bankruptcy case was recently tossed, filed a $4 million contract and fraud suit Thursday against Liberty Lending Group Inc. claiming the lender derailed a loan needed by the plaintiff to reorganize.

As it sought to exit Chapter 11, Sabertooth tried to get a $1.8 million loan from the defendant in order to pay off its primary creditor, Business Loan Express, but Liberty Lending fraudulently delayed and otherwise botched its responsibilities, according to the suit in Pennsylvania federal court....
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