Legal Question in Bankruptcy in California

A mortgage loan company I have invested in has filed for Chapter 11. I hold certificates in a "Trust Deed Collateral Fund" which contains Notes secured by Deeds of Trust;(the certificates have a maturity date and were issued at a fixed interest rate). Am I considered a "secured" or an "unsecured" creditor?


Asked on 8/19/11, 2:28 pm

2 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

This is something you should have found out before you invested. I would re-read the Prospectus and other offering documents and also file a claim with the BK court (using an attorney). Maybe there is a fraud lawsuit. Watch out for legal time limits.

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Answered on 8/19/11, 2:41 pm


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