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Tilton, Patriarch Hit With $10M Suit In TransCare Case

Law360 (February 23, 2018, 5:26 PM EST) -- The trustee for bankrupt ambulance company TransCare Corp. hit Lynn Tilton and her private equity firm Patriarch Partners with a $10 million clawback suit in New York bankruptcy court Thursday, alleging the onetime owners of TransCare blew up the company through mismanagement and an “outrageous” scheme.

In an adversary proceeding, Chapter 7 Trustee Salvatore LaMonica says Tilton and Patriarch are squarely to blame for TransCare’s failure. Even as TransCare’s leadership begged the company’s owners to let it sell off assets for a badly needed cash infusion,...
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