• Beneficient filed an October 23, 2026, motion to intervene in Delaware Chancery Court litigation to invalidate HCLP credit agreements.
• The proposed complaint seeks to eliminate approximately $130 million of disputed debt and recover approximately $211 million previously paid.
• The filing alleges former CEO Brad Heppner fabricated debt obligations and concealed his control of HCLP through false representations and falsified documents.
• Heppner was convicted in May 2026 of securities fraud, wire fraud and related offenses; sentencing is scheduled for January 11, 2027.
• Successful litigation would leave the company with an unleveraged balance sheet; no definitive agreement on a consensual resolution has been reached.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Beneficient, a Nevada corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610280730PRIMZONEFULLFEED9854925) on October 28, 2026, and is solely responsible for the information contained therein.