Proposed Warren Capital Settlement Could Close Case

According to the North Bay Business Journal, court appointed receiver Michael Kasolas proposed a $2.2 million dollar settlement to be disbursed among nearly former Warren Capital investors.

The Journal noted that the proposed settlement would amount to a roughly 28 cents on the dollar return to investors, who were defrauded out of nearly $11.2 million when Stephens issued mostly false high-interest corporate promissory notes.

The matter is scheduled to be heard on August 21, the Journal said.

Read the full report from the North Bay Business Journal here.

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.