TriMark Lenders’ Suit Over Financing Can Proceed, Judge Says (1)

TriMark USA must face a lawsuit seeking to void a controversial financing that has roiled the $1.2 trillion leveraged loan market, after a New York state judge denied a bid to throw out the case.

Lenders to the food services company, including BlueMountain, Z Capital Credit Partners and Golub Capital Partners, sued TriMark in November alleging that its new debt violated the terms of its borrowing agreements and allowed a group of other lenders to take priority over them. The loan in question allowed a handful of investors that gave fresh money to the company to jump ahead of ...