Telco Company Accused of Fraud by HPS Seeks to Subpoena Vendor
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Source: Bankai Group/PR NewswireThe chief restructuring officer for Broadband Telecom, a company that has been accused of fraud by lenders including HPS Investment Partners, is seeking court approval to initiate an examination into a key Indian vendor with links to the founder and owner of the bankrupt firm.
Bankai Infotech Limited. — which shares its name with the parent company of Broadband Telecom, Bankai Group — has access to the bankrupt company’s servers and keeps records including emails and customer data for it under an outsourcing agreement, according to court dated Wednesday.