Defense Contractor Says Partner Owes Share Of $67M Loan

Law360, New York (January 16, 2013, 3:51 PM EST) -- Global defense contractor The Day & Zimmermann Group Inc. brought suit Monday in Pennsylvania federal court seeking to get security contractor SOC-SMG Inc., its partner in a joint venture, to pay its share of a $67 million loan that defaulted.

Day & Zimmermann and SOC-SMG were the co-guarantors of a $70 million credit facility issued to SOC LLC, a joint venture between the two companies that defaulted on the loan when it matured and became payable on Dec. 31 in the amount of $67 million, according...
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