Annuity Provider A-CAP Injected Billions Into Failing Firm, Lawsuit Alleges

September 18, 2024 by Jacob Adelman

The Advantage Capital insurance group has been spending heavily to keep one of its major borrowers, 777 Partners, out of bankruptcy proceedings, another one of 777’s lenders has alleged in court filings.

The lawsuit claims that Advantage Capital, or A-CAP, is seeking to avoid a bankruptcy filing by 777, which could bring scrutiny of its alleged insider deals with the firm.

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“Annuity Provider A-CAP Injected Billions Into Failing Firm, Lawsuit Alleges”

Just the latest in the saga with A-CAP… -sjm

Originally Posted at Barron's on September 9, 2024 by Jacob Adelman.