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Topics - Tomp

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Investors - LC / No Fin No Tech
« on: January 03, 2018, 10:31:04 AM »
How exactly is LC a fintech company? No chief tech officer and no chief credit officer.........or course no woman.

So Bristlecone, a portfolio of Princeton filed for Chapter 11 in April. Princeton transferred the assets owed to a recovery company that day after the bankruptcy was filed. The Chapter 11 was change to chapter 7 last week. PAF's exposure was $9.9 (unclear in the recovery rate). HOWEVER As of today neither PAF or Ranger has disclosed this bankruptcy which will have a material impact on both funds. I know that LIM a credit fund out of Asia just purchased big chunk a Ranger a few days ago without knowing about this bankruptcy. It's Rangers faults for apparently doing lousy due diligence in PAF. Ranger is well aware of the bankruptcy but still hasn't disclosed. PAF appears to be nothing more than a captive arm of microbilt. Microbilt id one the only vendors continuing ti get passed in the bankruptcies. 

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