Bankrupt New York City live music venue owner Avant Gardner settled with its merchant cash advance lenders and secured lender over $11 million in disputed loans that were intended to help fund the Brooklyn Mirage’s remodeling.
The deal would provide TVT Capital Source LLC, Insta Funding LLC, and Pinnacle Business Funding LLC $1.35 million and allow them to share part of a $6 million unsecured claim, AGDP Holding Inc. said in a Tuesday motion seeking approval in the US Bankruptcy Court for the District of Delaware.
The settlement would resolve a suit brought by the merchant cash advances lenders against …