Cynergy Lenders Balk At $21M Transfer To Harris

Law360, New York (October 7, 2009, 3:39 PM EDT) -- A group of lenders to bankrupt credit card processor Cynergy Data LLC has objected to $21 million in cure payments the company is proposing to transfer to Harris Bank NA, claiming the debtor is taking sides between creditors and the bank.

In a motion filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Ableco Finance LLC, A3 Funding LP, Dymas Funding Co. LLC and two funds managed by Garrison Investment Group claim that they will see their recovery from ComVest Group's proposed $81...
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