MV Realty, a real estate firm specializing in right-to-list agreements, has filed for Chapter 11 bankruptcy protection in all thirty-three states in which it operates. Chapter 11 bankruptcy protection offers a company the chance to reorganize its financial affairs and restructure its debt obligations while continuing to conduct business.
The filing comes as the company faces legal troubles, as its former clients have recently lodged complaints alleging the firm of failing to honor their agreements. Alleged violations include failure to honor commissions for its agents, as well as the non-payment of creditors.
The most significant elements of the text include:
• MV Realty – A right-to-list agreement firm that operates in 33 states
• Filing for Chapter 11 Bankruptcy Protection – Legal measure to reorganize a company’s financial affairs
• Former clients lodging complaints – Alleging failure to honor agreements
• Failure to honor commissions –Including possibly non-payment of creditors
You can read this full article at: https://www.housingwire.com/articles/mv-realty-files-for-bankruptcy/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
