Bankrupt golf services business Nicklaus Cos. asked a court to find that a top creditor tied to banker and entrepreneur Howard Milstein doesn’t have a $476 million secured claim against the company.
Jack Nicklaus’ former golf services business sued Milstein-affiliated PMP Nick LLC, arguing that liens it filed lapsed years ago and new security filings it made just ahead of the bankruptcy should be unwound. The statements were made in a complaint filed Wednesday in the US Bankruptcy Court for the District of Delaware.
The suit, if successful, could convert PMP’s liens into lower-priority, unsecured claims and prevent PMP from ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.