if they didn’t follow the rules…2 words… WARN ACT!
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 (“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]© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.