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Article Date: April 2019
Word Count: 167

Unsecured Creditors Sue Performance Bicycle Noteholders for $31.2 Million


A series of maneuvers between financial backers of Performance Bicycle and the company was challenged by unsecured creditors in a lawsuit in which they claim that UCC liens were improperly filed using the wrong corporate names just before the bankruptcy filing but within the 90-day avoidance period. The six lenders were York Street Mezzanine Partners, Howard and Diane Heavin, Gary and Sharon Snook and Peter Roy. The complaint charges that the defendants were issued a note by Performance which eventually reached $44 million ... Log in to view full article.

 


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