A series of funds managed by Ares Management, a $295 billion alternative investment manager, has filed a lawsuit on Thursday against Irish-founded Mainstream Renewable Power in relation to a loan of $280 million in the Supreme Court of the state of New York. The funds are seeking compensatory damages of “no less” than $313 million, equivalent to €280 million, and representing the principal they are owed plus interest.   The action describes itself as being “to halt the illegal theft of value by Mainstream Renewable Power Mezzanine Finance DAC,” which it describes as the borrower, and stop Mainstream Renewable Holdings AS,…

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