Greka Owes Another $54M In Loan Default Suit, UBS Says

Law360 (July 13, 2020, 10:44 PM EDT) -- UBS told a New York federal judge that energy holding company Greka Integrated Inc. owes it an additional $54 million in interest, fees and costs after the bank's early victory in its suit over Greka's failure to repay $100 million in loans.

U.S. District Judge Louis L. Stanton awarded UBS summary judgment back in April and dismissed Greka's counterclaims, including breach of the credit agreements and fraudulent inducement.

That April order found UBS was owed $100 million in damages "plus interest, fees, and other costs," but left the additional payments to be calculated at a later date. UBS said Friday that...

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