New York financier Lynn Tilton is ending 2017 on high note, prevailing in a civil racketeering suit three months after being cleared of wrongdoing in a case by the Securities and Exchange Commission.
The suit against Tilton and her Patriarch Partners LLC was filed by a group of funds she once created and managed to raise money for her portfolio. The Zohar funds, which sued in January 2017, are collateralized loan obligations filled with loans to distressed companies managed by her and Patriarch. In 2016, Patriarch stepped down as the funds’ manager over disputes with a unit of bond insurer ...
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