Distressed debt investor Lynn Tilton satisfied payments of over $40 million stemming from court judgments that she and her firm improperly stripped an ambulance service provider of valuable assets before the company’s bankruptcy.
The Chapter 7 estate for TransCare Corp. received the funds on Wednesday after a prolonged legal battle waged in bankruptcy and appellate courts over Tilton’s control of TransCare as director and lender, said Bijan Amini of Amini LLC, an attorney for trustee Salvatore LaMonica.
TransCare is one of several businesses tied to Tilton and her distressed debt investments that fell into bankruptcy in recent years. Others include ...
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