Cordes & Company

Disputing infomercial partners reach settlement

A  Boulder company used infomercials to broker seller-financed promissory notes and privately held mortgage loans. A local shareholder who was actively involved in the business was sued by a passive shareholder from out of state. There were numerous allegations of financial and operational improprieties. The Boulder County District Court appointed Cordes & Company as receiver. Cordes took control of company finances, provided direction to the management team, investigated the various allegations and provided reports to both parties. Cordes stabilized and improved the company finances, curtailed shareholder distributions and built up the company’s cash balances. The parties eventually reached a settlement that included the sale of the passive shareholder’s interest to the active shareholder.

California
2030 Main Street
Suite 1600
Irvine, CA 92614
Telephone: 949.379.1202
Colorado
5299 DTC Boulevard
Suite 815
Greenwood Village, CO 80111
Telephone: 303.721.8755
Minnesota
2677 N. Innsbruck Drive
Suite A
New Brighton, MN 55112
Telephone: 612.455.6027
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