Ellen K. Reisman, trustee of the Exactech Settlement Trust, filed a Delaware Chancery complaint against TPG Inc. and related TPG entities, shifting the case from plan implementation into sponsor-liability litigation. The complaint seeks a determination that TPG was Exactech’s alter ego or the alter ego of Osteon Holdings, and asserts actual and constructive fraudulent-transfer claims tied to a $5.9 million management-services invoice, according to the complaint posted by Yourlawyer.

The filing matters because the post-confirmation trust is using estate-style avoidance and control theories that individual MDL plaintiffs did not have, creating a new recovery path for tort claimants and other trust beneficiaries after the bankruptcy plan. The complaint alleges TPG acquired Exactech in 2018, exercised control over the board and management, had access to FDA and quality-system issues during diligence, and used that control while Exactech faced systemic implant-defect exposure. Any settlement or litigation recovery from TPG could become a meaningful value source outside the reorganized debtor’s operating assets.