Press Room
Claims Auction Site Takes on Vulture Funds
"If you've ever used eBay, you'll find T-REX familiar: free registration, feedback ratings, and a simplicity that makes buying and selling quicker and easier than you'd expect."
Taking A Bite Out of Bankruptcy Claims
"The exchange is out to improve the efficiency and liquidity of a market that by some estimates has grown to $500 billion. The process is straightforward: free of charge, credit managers can post an auction for their unsecured, Chapter 11 trade claims on bankrupt companies. If the exchange works as planned, the competition should give credit managers the chance to sell their claims at a higher price, and on more favorable contract terms, than those deals struck with single buyers of distressed debt."
Short on Cash?
"If one of your clients goes bankrupt, you could wait years for payment while the bankruptcy case works its way through the courts. T-REX allows you to get cash immediately by selling those receivables to hedge funds and other buyers, sometimes for pennies on the dollar, sometimes for almost the face value of the invoice."
The Dawn of a New Subspecies: T-REX - An Online Exchange
"The ultimate value of this innovative auction platform is access to pricing information. What is the best price you can get for you Delphi bankruptcy claim? What is the optimal price for a GM, Ford and Pep-Boys receivable put option? What should an investment grade credit cost for single-debtor credit insurance? Think about the value of this data to your credit department."
Northwest Creditor Makes First Post on Claim Auction Web Site
"A creditor of bankrupt Northwest Airlines Corp. became the first customer of a new online auction service designed to win higher prices for so-called trade debt."
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