A Hong Kong-based asset manager won a court ruling Wednesday upholding a financing round that handed it a 2.5% stake in the firearms division of the bankrupt Remington Outdoor Co., the oldest American gun manufacturer.
Vice Chancellor Lori W. Will ruled in favor of the Chinese investment firm, SIFT Capital LP, and Scott Soura, who arranged the $10 million loan in 2022.
Soura—now the majority owner of Remington successor REM EQ Holdings LLC—is one of two US businessmen who teamed up to buy the assets out of bankruptcy for $13 million in 2020, along with Richmond Italia, who challenged the ...
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