Callidus Suits Shine Light on World of Distressed LendingBy
Canadian lender sues clients; says they breached loan terms
Borrowers seek $224 million in combined damages from Callidus
Callidus Capital Corp., the distressed debt lender run by billionaire Newton Glassman, is battling with three of its borrowers who say the Canadian firm pushed them to breach loan terms to get control of assets ranging from coal mines to a ship recycler.
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