Injunction Sought Against MCA Company, NYC Marshal

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Blue Elephant Financing, LLC is seeking an injunction and a temporary restraining order against Itria Ventures, LLC (a subsidiary of Biz2Credit) and New York City Marshal Stephen Biegel, according to court records.

In February, Itria Ventures entered a confession of judgment in Kings County, New York against an out-of-state small business. Itria Ventures is a merchant cash advance company. In March, Itria relied on New York City Marshal Stephen Biegel to attempt to enforce the judgment and seize funds owed to the small business that were being held by a company with a New York office.

The funds the Marshal tried to seize, however, were collateral belonging to Blue Elephant Financing, LLC, the petitioner claims. Blue Elephant alleges that Itria willfully and maliciously tortiously interfered with its Senior Secured Creditor’s priority and senior secured rights by directing a New York City Marshal to levy its collateral and that it refused to withdraw the levy despite notice and demand of its perfected, senior first priority security interest.

“Respondent Itria Ventures LLC has wrongfully directed the City Marshal to levy upon the Collateral even though it knew that the Judgment Debtor was not the true owner,” the petitioner states. “Respondent Itria Ventures LLC failed to and refused to withdraw the Levy and Demand despite notice and demand by Petitioner Senior Secured Creditor.”

The petition was filed in the New York Supreme Court under Index number: 154941/2019

Update: Blue elephant was successful in obtaining a temporary restraining order.

Last modified: May 16, 2019

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