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Twenty-One CUs List $25 Million in Bankruptcy Claims Against Centrix

With millions at stake, credit unions began lining up before a U.S. Bankruptcy Court here last week to make claims against Centrix Financial, LLC, the troubled subprime indirect lender that filed for Chapter 11 bankruptcy protection on Sept. 19. The actual number of CUs making claims remained unclear last week,...

By Jim Rubenstein | Updated on October 03, 2006

DENVER — With millions at stake, credit unions began lining up before a U.S. Bankruptcy Court here last week to make claims against Centrix Financial, LLC, the troubled subprime indirect lender that filed for Chapter 11 bankruptcy protection on Sept. 19. The actual number of CUs making claims remained unclear last week, but documents filed in a Reno court two weeks ago list 21 CUs owed $25 million in unsecured claims and are counted in a creditor group of the 30 largest creditors.

The 21 CUs have claims ranging from the highest, $6.1 million owed to Credit Union of Texas in Dallas, down to $440,000 by Allegacy Federal Credit Union of Winston-Salem, N.C.

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