Ameritrans Capital Corp (fka AMTCQ)

[Enterprising Investor]

Status Report and Eighth Receiver's Report for the Period January 1, 2021 through May 31, 2023 by United States Small Business Administration as Receiver for Elk Associates Funding Corp. (9/01/23)

Settlements with Certain Defendants

Since 2019, the Receiver entered into settlement agreements with nine of the eleven original defendants, and all nine settlement agreements have been satisfied with total recoveries of $6.396 million. The Receiver has informed the remaining defendants that it remains willing to evaluate reasonable settlement offers if accompanied by the requisite documentary and financial support as has been clearly and consistently delineated by the Receiver’s counsel to the defendants’ counsels repeatedly since the Receiver sent the demand letters to each defendant in 2016.

Source: PACER [Docket 121]

United States of America, On behalf of its agency, The United States Small Business Administration v. Elk Associates Funding Corp. Civil Action No.22:13-cv-01326, U.S.D.C. E.D.N.Y.