Money Center (CMC), a name some truckers will find familiar, is
seeking to reorganize under Chapter 11 bankruptcy protection.
finance company filed Chapter 11 bankruptcy May 30 in the U.S.
Bankruptcy Court, Southern District of Florida, although the company
is headquartered in Las Vegas and was operated mostly from an
office in Escondido, CA. The Escondido office closed in March,
and visitors to the Las Vegas headquarters were referred to EZ
Asset Management, a repo service on Boulder Highway. All CMC leases
are being serviced by U.S. Bancorp.
CMC has been
the subject of Land Line articles about truckers losing down payments
and fees on unfunded financing deals. Those who did receive financing
are paying interest rates as high as 50 percent.
B. Ray has imposed a July 1, 2002, deadline for CMC to file missing
documents, including schedules and statement of affairs. The first
meeting of creditors is scheduled 10 a.m. July 9, 2002, at the
U.S. Courthouse, 299 E. Broward Blvd., Suite 411, Fort Lauderdale,
for creditors to file proof of claim (case no. 02-24068) is Oct.
7, 2002. CMC's attorney Bradley S. Shraiberg may be reached by
calling (561) 395-0500.