secwatch.observer — SEC 8-K summary
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Issuer:     Fly-E Group, Inc. (FLYE)
CIK:        0001975940
Form:       8-K
Filed at:   2026-11-04T22:00:14+00:00
Accession:  0001213900-26-116000
Event type: litigation
Sentiment:  negative
Materiality: 0.82
Item codes: 2.04
LLM model:  deepseek-v4.1-flash:cloud@v2

Peapack sues Fly-E Group for $3.9M default on $5M credit facility that matured August 2025
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- Peapack Private Bank & Trust filed a complaint October 30, 2026 in the Supreme Court of the State of New York, County of Queens, seeking at least $3.9 million in outstanding principal.
- Complaint concerns a $5,000,000 Revolving Credit Note and Loan and Security Agreement dated August 5, 2024, with Fly E-Bike, Inc. and Fly EV, Inc. as co-borrowers.
- Credit Facility matured August 31, 2025; forbearance ran only through June 30, 2026, and interest now accrues at a 15.375% post-forbearance rate plus default interest and late charges.
- Guarantors include CEO Zhou Ou and Ke Zhang; obligations are secured by substantially all personal property of the borrowers and certain subsidiaries.
- Lender demanded October 20, 2026 that borrowers assemble and turn over collateral; the complaint also seeks possession of that collateral. Company is reviewing defenses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1975940/000121390026116000/0001213900-26-116000-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1975940/000121390026116000/ea0310867-8k_flyegroup.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-116000

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