Directors of Phoenix Fund sued for $285 million

Bolsa de valores 01:53 PMS&P 500 - (CFD)7353.61-0.67% · Dow Jones49363.88-0.65% · Nasdaq25870.71-0.84%NoticiaBasado en hechos que el periodista haya observado y verificado de primera mano, o en información verificada que proviene de fuentes bien informadas.Four private investment funds allege that Francisco Rivera Fernández, Edgar Rivera Núñez, and others have defaultedMay 20, 2026 - 9:52 AMOne of the main events that triggered the filing of the legal action for breach of contract was The Phoenix Fund’s voluntary filing for Chapter 11 of the federal Bankruptcy Code on February 23, 2026.

(Carlos Rivera Giusti/Staff)Four private investment firms in the United States sued Francisco José Rivera Fernández and Edgar Rivera Núñez, both executives of The Phoenix Fund and its affiliates, seeking payment of nearly $285 million for allegedly defaulting on several lines of credit and personal guarantees.Popular en la Comunidad