Millennium Health Sued by Lenders Over $1.8B in Loans

Funds managed by Voya Investment Management Co. sued a founder of Millennium Health LLC and other parties, saying the bankrupt lab-testing company failed to disclose government probes of its business while borrowing almost $2 billion (ISL Loan Trust v. TA Associates Management LP, D. Del., 15-01138, complaint filed and sealed 12/9/15).

In a racketeering suit filed Dec. 9 in Delaware against Millennium’s owners, founder and former chief financial officer, Voya said it wouldn’t have agreed to fund the loans if “truthful and accurate disclosures concerning the real state of play at Millennium” were made.

Millennium filed for ...