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Debt Purchasing
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| Asta Funding to Delay Quarterly Report |
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| Bad debt buyer Asta Funding said late Tuesday in a filing with the Securities and Exchange Commission that it will not be filing its report for the quarter ended March 31 before the deadline imposed by the regulator. Asta said it missed the deadline due to lender renegotiations and portfolio assessments stemming from a massive portfolio purchase last year. Englewood Cliffs, N.J.-based Asta ( |
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| Topic: Debt Purchasing |
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| Asset Acceptance Says Largest Shareholder May Sell 11 Million Shares |
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| Debt buyer Asset Acceptance said late Thursday that it has filed a registration notice with the Securities and Exchange Commission on behalf of its largest shareholder allowing it to sell up to 10,932,051 shares from time to time in the future when it determines that sales are in its interest. The shareholder, AAC Quad-C Investors LLC, owns approximately 35 percent of Warren, Mich.-based Asset A |
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| Topic: Debt Purchasing |
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| Asta Funding to Host Investor Day |
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| Englewood Cliffs, N.J.- Asta Funding, Inc., (Nasdaq: ASFI) , a consumer receivable asset management and liquidation company, today reported that its management team will conduct an investor day on Wednesday, June 11, 2008 in New York City. A formal presentation will be made followed by a question and answer session. The event will begin 9:00 am ET and anticipated to conclude by 11:00 am ET. Due |
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| Topic: Debt Purchasing |
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| Investors Sell Debt Buyers' Stock as Economy Declines |
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| The downturn in the economy in the last year been reflected in the stock prices of the five major publicly traded debt buyers and collectors, according to an analysis of stock data by industry consultant Kaulkin Ginsberg. The total market capitalization of these five companies has declined from $2.58 billion at the end of May 2007 to $1.51 billion as of yesterday's close. The hardest hit |
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| Topic: Debt Purchasing |
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| UK Debt Buyer Gets $165 million Credit Facility for Portfolio Financing |
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| London Scottish Bank announced late last week that it had secured a credit facility from a consortium of banks totaling £83.5 million ($165 million) that will be used principally to finance debt buying activity at Robinson Way, its accounts receivable management subsidiary.Manchester, U.K.-based London Scottish Bank (LSB), formerly a subprime personal lender, announced earlier this year tha |
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| Topic: Debt Purchasing |
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| Brazilian Unit of American ARM Firm Buys $305 million Debt Portfolio |
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| ATN Capital e Participacoes Ltd., a Brazilian collection agency, announced Thursday that it has purchased a portfolio of consumer debt charged-off from Banco do Brasil SA. The portfolio has a face value of around $305 million, according to the company. A purchase price was not disclosed. ATN is the Brazilian subsidiary of Lexicon United Inc. (OTCBB: LXUN), based in Austin, Texas. Lexicon is a |
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| Topic: Debt Purchasing |
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| Asta Funding Announces Expanded Roles of Board Members |
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| Asta Funding, Inc., (Nasdaq: ASFI), a consumer receivable asset management and liquidation company, today announced that it has appointed Mr. David Slackman as Lead Independent Director and Mr. Herman Badillo as Chairman of the Governance Committee effective immediately."I am pleased to be named Lead Independent Director," commented Mr. Slackman. "My experience includes executive-l |
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| Topic: Debt Purchasing |
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| Encore Capital Expands Credit Facility to $335 million, Adds Three Lenders |
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| Debt buyer Encore Capital Group said Monday that it has expanded its current credit facility to $335 million and added three new lenders to the consortium of banks that provide the facility. In a Securities and Exchange Commission filing Monday, San Diego-based Encore (Nasdaq: ECPG) said that it was expanding its revolving credit facility from $230 million to $335 million. The new agreement took |
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| Topic: Debt Purchasing |
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