VC Fund Sues Bankrupt Investment Co. Over $32M In Loans

Law360, New York (September 18, 2012, 6:39 PM EDT) -- Venture capital fund Bay City Capital Fund V LP on Monday hit three principals of bankrupt JHK Investments LLC with a lawsuit seeking nearly $32 million following several months of JHK's alleged failure to repay loans guaranteed by Bay City.

Bay City and Bay City Capital Fund V Co-Investment Fund LP claim that the loans defaulted in March and that it has yet to receive any payment. They also claim JHK's Aug. 29 Chapter 11 filing in Connecticut triggered a clause in their agreement making the...
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