Cleveland partner Kelly Burgan was quoted in the April 10, 2010, Indianapolis Business Journal article, "Path to Fair Finance Funds Full of Detours, Roadblocks."
The focus of the article is the bankruptcy of Fair Finance, a 76-year-old Akron, Ohio, based investment company which eased doing business after an FBI raid in November 2009 with over $200 million owed on investment certificates. Burgan is legal counsel for Cleveland partner Brian Bash, the court-appointed trustee in the bankruptcy.
The article focuses on the business dealings of Tim Durham, one of the co-owners of Fair Finance. According to the article, many of Durham's firms are teetering, casting doubt on what collateral bankruptcy attorneys will be able to seize and liquidate to repay creditors.
In addition, some of the paperwork bankruptcy attorneys need to go after borrowers is incomplete or so far hasn't been located, said Burgan. "We are seeing some problems with documentation," she said.