Tilton Seeks Del. Court Nod For Limited Patriarch Comeback

Law360 (April 15, 2020, 9:50 PM EDT) -- A new showdown is looming over turnaround manager Lynn Tilton's claimed return to the helm of some of Patriarch Partners' distressed businesses, as she sought Wednesday to amend a Delaware bankruptcy court order so she can continue temporary control despite her alleged resignations and Zohar fund creditors' opposition.

U.S. Bankruptcy Judge Karen B. Owens is scheduled to hear the dispute April 21, following a court finding on March 26 that the Zohar funds — holders of $1.8 billion in collateralized loans issued to the portfolio companies — own and control the companies involved.

Tilton resigned her management roles on March 21,...

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