Lender Sues E-Rate Contractor For $30M, Receivership

Law360, New York (July 11, 2011, 1:38 PM EDT) -- Private financing company Tatonka Capital Corp. sued telecommunications services provider Trillion Partners Inc. in Colorado on Friday, seeking more than $30 million owed under financing agreements for various government "E-Rate"  contracts, as well as the appointment of a receiver to manage Trillion's assets.

Tatonka said it could seize essentially all of Trillion's assets through liens already in place, but such an action would destroy Trillion's value going forward and prevent Tatonka from recovering most of the money it was owed, according to the complaint.

"Tatonka could...
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