Eaglewood Not Happy About World Global Financing Bankruptcy
A new complaint filed by Eaglewood SPV I LP suggests they’re not happy with ailing merchant cash advance company World Global Financing (WGF). Eaglewood originally sued WGF on March 28th in the New York Supreme Court and secured an injunction on May 2nd to turn over the cash and proceeds from receivables owed to Eaglewood. According to Eaglewood, WGF proceeded to ignore the court’s order and Eaglewood hasn’t been receiving anything. On May 8th, WGF filed Chapter 11.
The new complaint alleges that WGF and the company’s owner have engaged in fraud and that Eaglewood has been damaged to the tune of $6.5 million.Last modified: May 21, 2018