Wells Fargo Fights Hertz Interest Payout Petition to High Court

Wells Fargo Bank NA said the US Supreme Court has no reason to take up a petition by Hertz Corp. challenging enhanced payments owed to bondholders from the car rental company’s bankruptcy.

Hertz is asking the justices to overturn a federal appeals court ruling that secured some $270 million in additional fees and interest payments for bondholders as part of the company’s 2021 exit from Chapter 11. But the high court has recently declined to hear two similar cases by companies that, like Hertz, became solvent while in bankruptcy, and the arguments seeking review “are even weaker now,” Wells Fargo ...