Thaxton Noteholders Renew Charge Against Finova

Law360, New York (June 9, 2006, 12:00 AM EDT) -- Fresh off a $10 million partial class action settlement, the noteholders of bankrupt financial services outfit Thaxton Group Inc. have relaunched their attack against a quartet of companies over the allegedly fraudulent sale of $120 million worth of debt to individuals.

On Thursday, a group of 1,600 individual noteholders, headlined by the Society for Crippled Children, filed suit in U.S. District Court for the District of South Carolina against a slew of defendants, including Finova Capital Corporation, Leucadia, Berkadia and executive Thomas Mara, and Warren Buffett's...
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