
In court recently, former CarbonLite CEO Leon Farahnik’s attorneys elaborated on the financial conditions that led to the company’s bankruptcy. | Bragin Alexey / Shutterstock
Companies owed money by CarbonLite say the PET reclaimer’s failure came amid “gross financial mismanagement,” and they want an in-depth investigation. CarbonLite’s lawyers pinned the closure on a lack of brand owner support and other factors.