E. Oliver Founder On Hook For $45M Loan, NY Court Says

Law360, New York (June 21, 2012, 5:47 PM EDT) -- A New York state appeals court on Tuesday affirmed a lower court's ruling that the founder of private equity firm E. Oliver Capital Group LLC is personally liable for a $45 million loan his firm made to a telecom company.

A five-judge panel of the Appellate Division of New York Supreme Court upheld an October 2010 ruling in favor of Cartesian Capital Group LLC affiliate Poah One Acquisition Holding V Ltd. that found E. Oliver and its founder, Gilbert R. Armenta, were on the hook for...
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