Fly-E Group lender sues for at least $3.9 million, seeks collateral on credit facility
Peapack Private Bank & Trust filed a complaint in New York State Supreme Court, Queens County, demanding repayment of all amounts outstanding under Fly-E Group's revolving credit facility. The lender seeks at least $3.9 million in principal plus interest, fees and possession of the collateral securing the debt, which could weigh on the company's finances and operations.
Key points
- Complaint filed October 30, 2026, against the company, two subsidiaries as co-borrowers, corporate guarantors and two individual guarantors, including CEO Zhou Ou
- Lender seeks at least $3.9 million in outstanding principal, plus accrued interest at a post-forbearance rate of 15.375% per annum, default interest, late charges and attorneys' fees
- Credit facility matured August 31, 2025; forbearance agreement, amended May 28, 2026, ran through June 30, 2026; lender demanded collateral on October 20, 2026
- The company said it is reviewing the complaint and evaluating its defenses and other available responses
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.