破产信托从史诗公司收回500万美元, 但11.9亿美元的贷款不太可能被偿还.
Bankruptcy trust recovers $5M from Epic Companies, but $11.9M in loans are unlikely to be repaid.
监督已故西法戈开发商Epic公司清算的破产信托发布了一份报告,详细说明正在进行的努力从崩的房地产帝国中恢复资金.
A bankruptcy trust overseeing the liquidation of defunct West Fargo developer Epic Companies released a report detailing ongoing efforts to recover funds from a collapsed real estate empire.
基金管理人Lighthouse Management Group Inc.已经从已解决的索赔和判决中收回了超过500万美元,总额为2280万美元.
The trust, managed by Lighthouse Management Group Inc., has recovered over $5 million from settled claims and judgments totaling $22.8 million, while pursuing additional claims.
报告指出13家公司获得了1190万美元的贷款, 但由于房地产价值低于债务金额, 不太可能偿还.
However, the report notes that 13 companies, which received $11.9 million in loans, are unlikely to repay due to property values falling below debt amounts.
调查显示,该公司的融资依赖于2019年左右创建的次债基金,这些基金将未担保投资者贷款汇总在一起而没有维持现金储备,在项目失败时这种结构使投资人处于脆弱状态.
The investigation reveals that the company’s financing relied on sub-debt funds created around 2019 that pooled unsecured investor loans without maintaining cash reserves, a structure that left investors vulnerable when projects failed.
许多投资者面临重大损失, 因为违约贷款和担保协议下的潜在责任.
The bankruptcy is among the largest in North Dakota history, and many investors face significant losses due to defaulted loans and potential liability under guaranty agreements.