A single investor has agreed to provide $600,000 to the receiver dealing with Victoria mortgage broker Greg Martel’s bankruptcy to help win the right to sell a Las Vegas property in the hopes of bringing in $1.8 million for investors.
Names of borrowers, their addresses, and the amount of loans have not been provided to the receiver, who has only been able to find $302,000 so far. Inspectors for the bankruptcy estate of Martel’s My Mortgage Auction have endorsed the funding agreement. It now must go before the court in B.C. for approval, likely early next month.
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