NEW YORK – A federal judge has ruled that a New York City ‘ s top yellow taxi-operators have to give up to 46 coveted taxi medallions.
Evgeny (yehv-GEH-no) Freidman is intended to be used by the New York tabloids as the so-called Taxi King. He holds more than 800 such lucrative city auctioned medallions and various companies to manage a fleet of taxis.
But the Daily News (http://nydn.us/2iQIYX7 reports Saturday a judge ruled he must hand over the medallions and taxis are creditors by Jan. 9.
The 44-year-old Freidman bankruptcy this summer.
He is sued in state court by Citibank that says that lent him millions of dollars in loans that have not been repaid.
The value of the Taxi and Limousine Commission-issued medallions has declined with the advent of app-based ride-sharing companies.
Information from: the Daily News, http://www.nydailynews.com