September 28, 2021
Efforts to sell a helicopter company long seen as a high-value holding of distressed debt investor Lynn Tilton's Patriarch Partners have hit serious turbulence in the form of a $36.2 million federal whistleblower suit award and potential treble damages against the company, MD Helicopters Inc.
September 27, 2021
MBIA Insurance Corp. has renewed a Delaware bankruptcy court suit seeking more than $1 billion from distressed debt mogul Lynn Tilton and 13 affiliated businesses, alleging the systematic, multiyear looting of assets and funds that triggered massive MBIA noteholder payouts and left the insurer wrongfully blocked from recoveries.
July 19, 2021
A Delaware bankruptcy judge gave the Zohar Funds approval Monday to share financial information with independent noteholders on the companies being put up for sale in Zohar's Chapter 11 case.
June 18, 2021
A Delaware bankruptcy judge dismissed a string of claims Friday in a 15-month-old Chapter 11 battle between interests of distressed-debt mogul Lynn Tilton and bankrupt Zohar Funds holding more than $1.4 billion in Tilton venture-related debt, but allowed repleading for a majority of those tossed.
April 23, 2021
Finalizing the sale of one of the bankrupt Zohar funds' portfolio companies was a "tricky" prospect, but Morrison Cohen LLP said it was able to get Delaware bankruptcy court approval for the sale of one such entity to an affiliate of Zohar founder Lynn Tilton by acting without "fear or favor."
April 13, 2021
A business controlled by distressed-company turnaround mogul Lynn Tilton won Delaware bankruptcy court approval Tuesday to buy the assets of Global Automotive Systems Inc., over objections that the bankrupt Zohar funds, GAS' top secured creditor, would get nothing from the deal.
February 18, 2021
The sale of the assets of The Zohar Funds, a trio of bankrupt distressed-company investment vehicles, continued Thursday as a Delaware bankruptcy judge approved the short-notice $1.1 million sale of an unused Michigan real estate parcel.
February 17, 2021
Another business in Lynn Tilton's distressed debt Patriarch Partners fleet was positioned for a Delaware Bankruptcy Court-supervised sale on Wednesday, with disclosure of a tentative agreement to sell Snelling Staffing LLC and four affiliates to an interest of HireQuest Inc.
January 27, 2021
A Delaware bankruptcy judge warned Wednesday that she was "struggling" with debtor efforts to claw back millions in tax distributions held by distressed debt mogul Lynn Tilton's interests, a new wrinkle in the long-running Chapter 11 dispute between Tilton and the Zohar funds.
December 01, 2020
Bankrupt distressed company investment vehicles The Zohar Funds received approval from a Delaware judge late Monday for a $45 million sale of a Pittsburgh copper company, as the debtor continues its efforts to sell off its portfolio companies.