Lender Teligent rejects Creditor Group’s offer to recover money

By Jeannie O’Sullivan (February 8, 2022, 3:00 PM EST) – A lender to bankrupt generic pharmaceutical company Teligent Inc. has slammed an unsecured creditor bid for a derivative to recover a $10 million reserve fund. dollars, insisting that the debtor did not suffer any prejudice in satisfying the loan agreement.

In a Monday filing, ACF FinCo I LP told a Delaware bankruptcy judge to deny the motion of the official unsecured creditors’ committee because Teligent’s own refusal to pursue claims against the lenders speaks for itself. The committee wants to be able to accuse ACF and other Teligent lenders of improper maneuvers to fill their own coffers as the debtor’s insolvency looms.

Payment by Teligent of…

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