After nearly 35 years in business, mortgage law firm Butler & Hosch closes down

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After nearly 35 years in business, mortgage law firm Butler & Hosch closes down

After nearly 35 years in business, mortgage law firm Butler & Hosch closes down

if they didn’t follow the rules…2 words… WARN ACT!

 

Housing Wire-

Mortgage banking industry law firm Butler & Hosch, P.A. filed an Assignment for the Benefit of Creditors to Florida law firm Michael E. Moecker & Associates, an action analogous to Chapter 7 bankruptcy.

Butler & Hosch closed their doors this week and laid off the entire staff. It will not open on Monday.

No one at Butler & Hosch could be reached for comment, but HousingWire obtained a copy of the May 14 memo emailed to employees and vendors from Bob Hosch, CEO and Senior Partner at Butler & Hosch confirming the story:

“It is with great sadness that I report to all of you regarding the difficult financial status of Butler & Hosch and its affiliates[1] (“BH”) which has resulted in the filing of the state court Assignments for the Benefit of Creditors (“ABC”). I have voluntarily stepped down as CEO and Senior Partner of BH. The control of the BH companies has been voluntarily placed in the hands of an experienced third-party fiduciary, Mr. Michael Moecker.”

 [HOUSING WIRE]

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