Private Equity
Lynn Tilton, the so-called Diva of Distressed, is facing a lawsuit alleging that she and her firm, Patriarch Partners, "grossly mismanaged" more than $100 million of investor funds. Norddeutsche Landesbank Girozentrale and Hannover Funding Co. filed a lawsuit Monday against Tilton and Patriarch, alleging that she used funds that were marketed to investors as debt-investment vehicles but instead made risky equity deals that went bust. The SEC has contacted Norddeutsche Landesbank Girozentrale, and an employee from Nord is due to testify against Tilton in the SEC case, according to a copy of the witness list dated August 7, 2015, submitted by the...