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: Georgia Bankruptcy BlogTitle Lender TitleMax Files Chapter 11 In Southern District Of Georgia
By Scott Riddle
From Deal Watch Blog -
TitleMax, one of the largest title-lending companies in the U.S. and a frequent advertiser on Atlanta television stations, filed for bankruptcy in Savannah on Monday...The bankruptcy filing was triggered by the maturity of a $165 million loan from Merrill Lynch Mortgage Capital Inc. and Fortress Investment Group LLC.
Savannah-based TitleMax reported $100 million of debts and $100 million of assets. Several affiliated companies filed for Chapter 11 simultaneous with TitleMax, including CheckMax of Tennessee and TitleMax Funding. Fentress filed a motion for the court to jointly administer the cases...
Full post as published by Georgia Bankruptcy Blog on April 21, 2009 (boomark / email).
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