Bankruptcy consultant Alvarez & Marsal is stepping in for distressed debt investor Lynn Tilton at her Zohar credit funds.
NEW YORK, March 2- Lynn Tilton's Patriarch Partners LLC has been sued over last week's abrupt firing of roughly 1,200 workers at TransCare Corp, shortly after the privately held ambulance company filed for bankruptcy protection, court papers show. TransCare workers accused Patriarch, whose portfolio included the Brooklyn- based company, of failing to provide...
NEW YORK, Feb 5- Wall Street financier Lynn Tilton on Friday said her firm Patriarch Partners LLC will become a "family office" and will step down as collateral manager of three investment pools that helped fund her portfolio of troubled companies. That effort came two days after the CLO defaulted on some notes, forcing MBIA to make a $149 million payment.
Private equity investor Lynn Tilton has stepped down from the Zohar credit funds, on which her private equity firm, Patriarch Partners, has relied heavily for funding.