TransCare Corp., a private ambulance company controlled by Lynn Tilton’s Patriarch Partners, says the blame for its recent collapse lies squarely on senior lender Wells Fargo Bank NA, the Wall Street Journal reported today. In bankruptcy court papers filed on Monday, a Patriarch affiliate said Wells Fargo “stymied” efforts to muster the funding needed to prevent the company’s abrupt descent into chapter 7. However, Wells Fargo said in a court filing yesterday that it strongly disagrees with Patriarch’s claims and sequence of events, saying it has been lenient with TransCare even though the company has “been in and out of default” for most of the last year.
