Adam D. Halperin of Halperin Battaglia Benzija, litigation trustee. Halperin Battaglia Benzija LLP$400M Case: Trustee Claims Instant Pot-Maker Defrauded Lenders
In a U.S. Southern District of Texas bankruptcy filing, the Instant Brands trustee accused Cornell Capital of plundering the company through fraudulent transfers.
November 14, 2024 at 04:15 PM
4 minute read
Bankruptcy
What You Need to Know
- The equity owner of Instant Brands is accused of fraudulently plundering company assets, forcing bankruptcy, to enrich itself and co-investors with millions in dividends.
The litigation trustee of The Instant Brands Litigation Trust for creditors who lost more than $400 million is suing the Instant Pot-maker's private equity owner, accusing it of plundering the company.
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