In Re: TransCare Corporation
Case Number:
21-2547
Court:
Nature of Suit:
Companies
Sectors & Industries:
-
August 28, 2023
2nd Circ. Says Lynn Tilton Owes $39.2M To TransCare Estate
The Second Circuit on Monday upheld an award of $39.2 million in damages to the bankruptcy estate of an ambulance business and said its director and indirect owner, Lynn J. Tilton, breached her fiduciary duty when she created a plan to sell the profitable parts of the company to herself before the remainder of the organization filed for Chapter 7 bankruptcy.
-
December 16, 2022
2nd Circ. Scrutinizes Trustee In $39.2M Tilton Award Appeal
A Second Circuit judge pressed an attorney Friday for the Chapter 7 trustee of a bankrupt ambulance business overseen by Lynn J. Tilton and her Patriarch companies, asking if the trustee may have contributed to the business' collapse and thus undermined the justification for a $39.2 million damages award against Tilton.