Adviser To Bankrupt PMGI: 'Penthouse' Owes $3.5M In Damages For Contract Breach

Adviser To Bankrupt PMGI: 'Penthouse' Owes $3.5M In Damages For Contract Breach

WILMINGTON, Del. - CRT Capital Group LLC, the former financial adviser to bankrupt PMGI Holdings Inc. - the parent company of the adult entertainment empire carrying the name "Penthouse" - filed a brief on Oct. 4 contending that it is owed $3.5 million. CRT maintains that PMGI "deliberately" terminated the contract between the parties without cause to avoid paying the fees (In Re: PMGI Holdings Inc., No. 13-12404, Chapter 11, D. Del. Bkcy.).

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