Tag - Chapter 11 Bankruptcy

Gelt approves a “DIP” Debtor in Possession for company in Chapter 11 Bankruptcy

Gelt Financial, LLC approved a “DIP” Debtor in Possession first mortgage on a health care facility in New England. Over the years Gelt has developed a specialty in helping owners of business and real estate thought challenging times. According to Jack Miller, “we don’t shy away from challenging situations. We have the flexibility to work with the owners, stakeholders, attorneys and come up with a structure that works for all parties.  We have a long history of helping those [...]

Gelt Financial buys Multi Family Debt in Chapter 11 Bankruptcy

Gelt Financial, LLC is pleased to announce that is has purchased the debt of two Multi Family mortgages that are in Chapter 11 Bankruptcy.  According to Jack Miller, Gelt’s president, “we have been purchasing opportunistic debt since 1990 when our first purchase was a 13 Million portfolio of credit card debt from the Resolution Trust Corporation, along the way we have purchased portfolios of consumer discount paper, tax liens, and many commercial mortgages”. In 2006 Barron’s wrote a piece [...]

Accounts Receivable Financing Approved for Company in Bankruptcy

We are pleased to have secured asset based financing for a telecommunications and IT company in Chapter 11 Bankruptcy providing them with an accounts receivable line of credit. Prior to contacting us the company was languishing in the bankruptcy process, when the hardworking owner called he was frustrated and at the end of his rope. Our financing allowed for a deal to be done with their current lender and a plan for reorganization being filed. We were thrilled to [...]

Commercial Investment First Mortgage Loan closed for Borrower in Chapter 11 Bankruptcy

Dip Lending, LLC is pleased to announce that it has just closed a commercial real estate loan first mortgage in New Jersey for a real estate investors that was in Chapter 11 Bankruptcy.   We were pleased to provide them with the financing they needed to pay off their existing lender and exit Bankruptcy.  According to Jack Miller, “When I spoke to the borrowers last evening after closing she could not stop thanking me and told me tonight will be [...]