Alleged Ponzi Scheme A 'Melting Ice Cube,' Creditors Told
Law360, New York (June 9, 2017, 10:18 PM EDT) -- Creditors of bankrupt ticket reseller and alleged Ponzi scheme vehicle National Events Holdings LLC gathered Friday in New York bankruptcy court, to begin what all sides agreed will be a long, complicated process of sorting out the company’s tangled relationships and $70 million in debt.
During the first-day hearing attorneys representing National Events, several of its employees and a handful of creditors all told U.S. Bankruptcy Judge James L. Garrity they weren’t sure how to proceed just yet, but wanted to keep the delicate situation “in a box” until they had more information, as one attorney put it.
Judge Garrity approved...
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