Lenders to bankrupt Avant Gardner pushed back on accusations that they offered predatory financing agreements to help with renovations of the New York City live entertainment company’s flagship Brooklyn Mirage venue.
Avant Gardner, under direction from its senior secured lender Axar Capital Management LP, instead obtained millions of dollars in funds from lenders with no intention to repay, the lenders said in motions to dismiss filed Monday in the US Bankruptcy Court for the District of Delaware.
The motions are in response to Avant Gardner parent AGDP Holding Inc. last month suing TVT Capital Source LLC, Insta Funding LLC, Pinnacle ...