CEDAR FUNDING’S CREDITORS HAVE APPROVED A LIQUIDATION PLAN FOR THE MONTEREY MORTGAGE BROKERAGE HOUSE. CEDAR FUNDING BEGAN BANKRUPTCY PROCEEDINGS NEARLY 3 YEARS AGO, REPORTEDLY LEAVING HUNDREDS OF INVESTORS HIGH AND DRY. A U.S. BANKRUPTCY JUDGE IS NOW EXPECTED TO ISSUE A FINAL DECREE JUNE 2ND, ON CEDAR FUNDING’S CHAPTER 11 CASE.
THE NEW PLAN (APPROVED BY CREDITORS TODAY) COULD MEAN THAT CREDITORS WOULD RECEIVE 5-10 CENTS ON EVERY DOLLAR OF VALID CLAIMS.
FOR MORE INFORMATION ON THE COMPANY’S LIQUIDATION, PEOPLE CAN GO ON-LINE TO:
www.cedarfundingbankruptcy.com
