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SunEdison Creditors Sue Lenders, Accuse Company Of Fraud

Law360, New York (October 21, 2016, 6:42 PM EDT) -- SunEdison creditors on Thursday sued the energy giant’s bank lenders and other financiers in New York to recover at least $200 million they allege was used to mask the company’s deteriorating finances and improprieties months before filing for bankruptcy.

The lawsuit, filed by a committee representing unsecured creditors of SunEdison, claims the company in January structured a series of transactions with its lenders in order to hide falsified financial information and a lack of internal controls across the business’ sprawling corporate structure.

The complaint represents an...
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