Lender To Bankrupt Ticket Reseller Seeks Lift Of Ch. 11 Stay

Law360, New York (June 14, 2017, 8:07 PM EDT) -- A private equity firm owed $44 million by bankrupt ticket reseller and alleged Ponzi scheme front National Events Holdings LLC asked a New York bankruptcy court Wednesday to let the firm liquidate the debtor's $5.8 million in assets, and took aim at two other creditors.

Falcon Strategic Partners IV, a fund run by Falcon Investment Advisors, told U.S. Bankruptcy Judge James L. Garrity that the fund is the only secured creditor of National Events and that the fund's $25 million in secured debt is guaranteed by "substantially all of the debtor's assets." Falcon is also owed $19 million in unsecured debt...

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