The founders of shuttered dental alignment company SmileDirectClub Inc. urged a Texas bankruptcy judge to block an appointed trustee from taking on litigation finance to fund lawsuits against them.
SmileDirectClub’s liquidating estate owes more than $28 million in senior secured debt to its founders on account of emergency loans they provided to the company after it crashed into bankruptcy last year.
A pending request by Chapter 7 trustee Allison D. Byman to borrow an undisclosed amount from litigation funder Omni Bridgeway Management (USA) LLC would violate the existing loan agreement, the founders said in an objection filed Thursday with the ...
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