Zohar Funds' Debt Agent Approved Over Tilton Objections

Law360, Wilmington (February 26, 2019, 6:39 PM EST) -- The retention of the collateral debt agent in the Chapter 11 case of distressed company investor the Zohar Funds received court approval Tuesday when a Delaware bankruptcy judge determined that the terms of a settlement reached months ago allow for the payment of the agent’s fees despite objections from the funds' founder, Lynn Tilton, to the anticipated costs of the retention.

During a bench ruling, U.S. Bankruptcy Judge Christopher S. Sontchi said objections to the retention of Ankura Trust Co. LLC from Tilton and another of her companies, Patriarch Partners Agency Services LLC, over the payment of the agent’s fees were...

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