A New York federal bankruptcy judge on Monday recommended a judgment of $41.8 million against distressed-debt maverick Lynn Tilton after a bench trial in a Chapter 7 trustee’s adversary case over the collapse of ambulance company TransCare Corp.U.S. Bankruptcy Judge Stuart M. Bernstein also levied a $39.2 million judgment against Tilton’s private equity firm Patriarch Partners Agency Services LLC, finding that it accepted TransCare collateral with the intent to hinder and delay TransCare’s creditors and avoid the strict foreclosure of its most valuable assets.
