Summit Unit Can't Block Financing Bid, Auto Parts Co. Says
Law360 (March 22, 2018, 2:18 PM EDT) -- The credit arm of Summit Partners is trying to prohibit an automotive parts supplier from exploring alternative financing sources, according to a lawsuit removed to Michigan federal court Wednesday, which says the attempts by Summit are based on an expired exclusivity agreement.
Gill Holding Co. Inc., the parent company of Gill Industries, alleges Summit Partners Credit Advisors LP has threatened legal action against the parts supplier for exploring alternative financing options after the sides were unable to reach a deal.
Summit contended that Gill is prohibited from seeking such a financing transaction and ordered the parts supplier to stop any attempts...
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