After nearly two years of waiting, investors in a group of defunct mortgage pools formerly managed by Vancouver-based firm American Equities could start to see some money find its way back to them although probably not as much as they were hoping.
The 15 investment pools were declared insolvent in May 2019 and placed into receivership, a process in which a court-appointed official is tasked with assessing an insolvent companys finances and developing court-approved plan to liquidate its assets and repay investors and creditors as best as possible.
Portland-based financial consulting firm Hamstreet and Associates was placed in charge of the American Equities receivership. An initial rough estimate found that the pools collectively held…
Read the full article at: https://www.columbian.com/news/2021/mar/14/american-equities-case-progresses/
