Gulf Atlantic Capital Directs Orderly Wind Down of BlueTrust Capital Corporation
Gulf Atlantic Capital was retained by the Company’s investors to take control of the Company and wind down operations after the investors learned that questionable loan practices had created an unacceptable level of risk in the Company’s loan portfolio.
Developed and implemented strategies to liquidate non-standard loans, including assisting borrowers with refinancing and restructuring mortgages and bulk sales of loans to the secondary and scratch and dent market. Efforts resulted in the company’s investors being relieved of personal guarantees under the warehouse line of credit.
Directed efforts to mitigate exposure on repurchase obligations with loan investors, including GMAC.
Directed the orderly wind down of operations, including overseeing employee terminations and preparing the Company for an Assignment for the Benefit of creditors filing.
