GOOD FOR THEM.
THOSE EVIL, SADISTIC FUCKS.
AGILITY 360 IN CARROLLTON, TX (WHICH WAS HURRIEDLY CREATED BY FAILED WINGSPAN EXECS AFTER THEY RAN WINGSPAN INTO THE GROUND) WILL MOST LIKELY BE NEXT.
Citing a massive gap between its assets and liabilities,Wingspan Portfolio Advisors filed for Chapter 7 bankruptcy protection in United States Bankruptcy Court for the Eastern District of Texas.
According to documents obtained by HousingWire, Wingspan filed for bankruptcy on Monday, listing $1,236,986.76 in assets and $12,070,346.87 in liabilities.
Wingspan’s filing breaks down its liabilities into three categories: creditors holding secured claims, creditors holding unsecured priority claims, and creditors holding unsecured non-priority claims.
According to the filing, Wingspan owes $2,144,755.54 to creditors holding secured claims; $2,360,947.20 to creditors holding unsecured priority claims; and $7,564,644.13 to creditors holding unsecured non-priority claims.
In a section of the filing entitled “statement of financial affairs,” Wingspan discloses that it lost $16,382,387.29 in 2013; $24,857,052.36 in 2014; and $6,058,617.66 from Jan. 1 through July 3 of this year.
In total, Wingspan lost more than $47.29 million in the course of doing business in the last 30 months.
The bankruptcy filing is the latest in a series of calamitous developments that have crippled the once-mighty special servicer.
Last October, HousingWire reported that Steve Horne, the founder, CEO and president of Wingspan, was removed from the company he founded in 2008.....
To read more, please visit the Housing Wire Article By Clicking HERE
To read more, please visit the Housing Wire Article By Clicking HERE