Shuttered Debt Collector Withheld $90M, Quest Says

Law360, New York (January 24, 2014, 7:30 PM EST) -- Quest Diagnostics Inc. on Thursday filed a breach of contract suit in New Jersey federal court against a recently shuttered debt collector Quest said closed its doors without warning, abruptly withdrawing from their service contract and withholding $90 million of Quest’s receivables.

Quest filed its suit against National Asset Management LLC, which also does business as National Account Management LLC, as well as its parent company Eightfold Inc. and Eightfold’s principal, Rickard Briggs. In its complaint, the Madison, N.J.-based clinical laboratory company alleges NAM pulled out...
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