Penthouse Publisher Dodging $3.5M Bill, Financial Co. Says

Law360, Wilmington (October 4, 2013, 7:48 PM EDT) -- The former financial advisory firm for Penthouse magazine's publisher claimed Friday that the publisher terminated its contract days before seeking bankruptcy protection in Delaware to skip out on a $3.5 million bill, saying its court filings are misleading enough to undermine the firm’s subsequent claim.

CRT Capital Group LLC lodged an objection against FriendFinder Networks Inc.’s requests for court approval of its restructuring transaction support agreement and of its retention of a new advisory firm, arguing the filings contain several misstatements that downplay CRT’s role in...
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