The lenders, who made a $585 million loan to TriMark under a 2017 credit agreement, have referred to the rescue package as a "cannibalistic assault" on their rights and an example of "lender-on-lender" violence.
August 17, 2021 at 06:25 PM
4 minute read
A New York state judge has ruled that a group of TriMark USA lenders can proceed with a bid to unwind the food-service supplier’s $427 million pandemic refinancing package, which the plaintiffs said allegedly dislodged them from a top spot in the line for repayment.
The ruling, entered Monday, allowed TriMark’s first-lien lenders to press claims for declaratory judgment and breach of contract against TriMark and its equity owners, The Blackstone Group Inc. and Centerbridge Partners.
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