LMI’s Receivership Continues Despite Clover’s Acquisition of LMI Assets

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Last summer, LMI Solutions, which was once the second-biggest remanufacturer in the United States, went into receivership after defaulting on a $5.6 million loan. Many of LMI’s assets, including inventory, intellectual property rights, and manufacturing equipment, were subsequently purchased by Clover for $3.75 million. But all that happened several months ago—which is why it is

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