National Events Probes Will Proceed With $280K DIP Approval
Law360, New York (October 4, 2017, 8:13 PM EDT) -- The bankruptcy of defunct ticket reseller and possible Ponzi scheme vehicle National Events has entered a wait-and-see mode after a New York bankruptcy judge on Wednesday approved a final $280,000 loan that will fund dueling investigations into possible causes of action.
The debtor-in-possession loan will advance $280,000 to the debtor, with $135,000 to fund an investigation by "estate fiduciary" Edward J. LoBello and $45,000 for another investigation by Alan D. Halperin, an independent examiner appointed by the U.S. trustee, after a $100,000 roll-up is accounted for.
Both investigations will be aimed at untangling the web of transactions that led to National...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!