Monday, August 11, 2014 10:52:06 AM
So Horseshoe is being sold, short sale of course. The first lien holder (Quicken) gets close to repaid, but Heritage fka Cowlitz takes it up the rear end, and loses $250k on a second lien (tax payer money).
The third lien by Heritage had to do with collateralizing the Tytan business loan. Obviously, they get nothing as well.
Hearing on the sale in early September.
http://www.scribd.com/doc/236493049/Sale-of-Horseshoe
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