Medical-Supply Firm Sues Bank Over Broken Coronavirus Deal - News Summed Up

Medical-Supply Firm Sues Bank Over Broken Coronavirus Deal


WASHINGTON—A politically connected medical supply company alleged that the improper actions of its bank caused it to lose a $600 million order for coronavirus supplies, ruined its business, triggered death threats to its founders and ruined their reputation. In a suit filed Friday in a Virginia federal court, Blue Flame Medical LLC contends that as it was waiting for a down payment from the state of California, an official at Chain Bridge Bank told California’s treasurer that the company might be “fraudulent.”...


Source: Wall Street Journal June 12, 2020 11:59 UTC



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