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Posted On: March 4, 2010 by Scott Sagaria

AmTrust Financial Corp.'s Bankruptcy Filing

A San Francisco bankrutpcy attorney discusses the bankruptcy of AmTrust Financial Corporation...

Recently, AmTrust Financial Corporation filed for bankruptcy. Amtrust has stated that the reason they are filing bankruptcy is because they had invested in home loans that had lost value during the recession. AmTrust Financial Corp is the parent company of AmTrust Bank, however the bank will not be included in the bankruptcy.

Peter Goldberg, CEO of AmTrust, pointed to the economic downturn, mortgage availability, and devalued homes as some of the main factors involved in the need to file bankruptcy. The company is filing for Chapter 11 reorganization, and listed over $169.5 million in debt. Altogether the company has about $11 billion in assets and roughly 1,700 employees.

AmTrust listed debts in the millions of dollars to companies such as Bank of NY Mellon, Allstate Life Insurance, Midland National Life Insurance Co., US Bank, and Phoenix Life Insurance Co. Many private stockholders were also listed.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

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Posted In: Corporate Bankruptcies , Creditors and Debt

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