Judge 'Alarmed' By Tilton Sale Allegations In Zohar Ch. 11

Law360, Wilmington (December 11, 2019, 8:52 PM EST) -- A Delaware bankruptcy judge branded as potentially alarming on Wednesday sealed, unspecified allegations regarding "harmful" actions by Lynn Tilton while the Zohar funds she once led pursue Chapter 11 asset sales, saying the claims might prompt an overhaul of the process and a fresh look at who controls the portfolio companies.

Although an attorney for Tilton disputed the unspecified claims, U.S. Bankruptcy Judge Karen B. Owens said the alleged conduct, if verified, could prompt a move to overhaul the current sales process, as well as the court reconsidering "once and for all" who controls what are now joint decisions on asset...

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