Auto Parts Mogul Must Pay Chase Agent $127M

By Emilie Ruscoe (June 2, 2021, 10:12 PM EDT) -- A federal judge in Detroit has ruled that an auto parts manufacturer accused of failing to make good on a credit agreement must pay more than $127 million and sign over a pair of promissory notes worth $150 million to an administrative agent for JPMorgan Chase Bank, in connection with a complex dispute that spans more than a decade.

In his Tuesday order, U.S. District Judge David M. Lawson found that defendant Larry J. Winget must pay Alter Domus LLC nearly $105 million, a sum equal to cash distributions Winget collected in connection with an alleged scheme to hide funds from...

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