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Corporate

Jan. 24, 2024

Fund wants default judgment against defunct tech company

The fund, Kline Hill Partners Fund II LP, claims in a lawsuit that Zachary Abrams, the former CEO of Altierre Corp., struck secret deals with other creditors to effectuate a “strict foreclosure” to keep Altierre’s assets away from investors and creditors such as Kline Hill.

An investment fund accused the former CEO of a now-defunct retail internet of things solutions company of purposely delaying discovery in a shareholder complaint.

The fund, Kline Hill Partners Fund II LP, claims in a lawsuit that Zachary Abrams, the former CEO of Altierre Corp., struck secret deals with other creditors to effectuate a “strict foreclosure” to keep Altierre’s assets away from investors and creditors such as Kline Hill.

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