Peapack Private Bank Sues Fly-E Group Over at Least $3.9 Million in Unpaid Loan Principal

Bitget2026/11/04 22:59

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Peapack Private Bank & Trust sued Fly-E Group and other borrowers and guarantors on October 30, 2026, demanding revolving credit facility repayment.
The complaint seeks at least $3.9 million in principal, accrued interest, late charges and legal costs; post-forbearance interest is 15.38% annually.
The $5 million revolving credit facility, dated August 5, 2024, matured on August 31, 2025.
A November 7, 2025, forbearance agreement, amended May 28, 2026, deferred certain lender remedies through June 30, 2026.
The lender also seeks possession of collateral following its October 20, 2026, turnover demand; the company is evaluating defenses.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fly-E Group Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-116000), on November 04, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Peapack Private Bank Sues Fly-E Group Over at Least $3.9 Million in Unpaid Loan Principal

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