Cynergy Shakes Some Claims In Creditor Contract Suit
By Kathryn Brenzel
Law360, New York (September 23, 2013, 4:43 PM EDT) -- A New York federal judge on Monday granted partial summary judgment to Cynergy Holdings LLC in a contract dispute with its bankruptcy creditor Process America Inc., finding the credit card processor didn’t violate certain ownership rights and sanctioning the creditor for inadvertently deleting certain evidence in the suit.
The decision pares a 2012 suit filed by Process America accusing Cynergy of improperly terminating a business agreement with the company and making off with the fruits of their relationship. Under the 2004 agreement, Process America sold Cynergy...