SquareTwo Financial Corporation, a Colorado-based debt collector, filed Chapter 11 bankruptcy on Sunday, March 19, 2017, in the U.S. Bankruptcy Court for the Southern District of New York.
Soreide Law Group is currently investigating, on behalf of several investors, bond purchases in SquareTwo Financial Corp. recommended by their broker/dealers.
SquareTwo Financial Corp, together with its subsidiaries, acquired, managed, and collected charged-off consumer and commercial accounts receivables primarily in the United States and Canada. The company purchased accounts receivables from financial institutions, finance and leasing companies, and other issuers. SquareTwo Financial Corporation was founded in 1994 and is headquartered in Denver, Colorado.
SquareTwo Financial Corp reached an agreement with Resurgent Holdings LLC to take ownership of the debt collector's portfolio of assets. Resurgent agreed to invest $405 million, according to the filing. The proceeds from the agreement would result in a final purchase price of $264 million in exchange for 100 percent of the equity of the reorganized company. With the completion, SquareTwo will close its operations in the United States by the end of 2017.
If you suffered financial losses due to the purchase of SquareTwo Financial Corp bonds, recommended by your financial advisors or broker/dealers, call Soreide Law Group for a free consultation with a Securities Lawyer regarding the possible recovery of your losses at: 888-760-6552.
Soreide Law Group operates on a contingency fee basis and we represent clients nationwide before FINRA.
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