Voluntary Chapter 11 Bankruptcy Petition of Creditrust Corporation
Summary
Creditrust Corporation has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the District of Maryland. This filing initiates a legal process for the company to reorganize its debts and business affairs while continuing operations. The petition includes key information about the debtor, such as its address, estimated assets and debts, and confirms that the filing is authorized by the company. No prior or related bankruptcy cases are reported. The petition is signed by Joseph K. Rensin as the authorized representative.
EX-2.1 2 0002.txt VOLUNTARY PETITION Exhibit 2.1 U.S. BANKRUPTCY OFFICIAL FORM 1 - -------------------------------
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND In Re: CREDITRUST CORPORATION Case No. 00-5-7812-JS Chapter 11 Exhibit "A" to Voluntary Petition --------------------------------- 1. If any of the debtor's securities are registered under Section 12 of the Securities Exchange Act of 1934, the SEC file number is 333-50103. 2. The following financial data is the latest available information and refers to the debtor's condition on April 30, 2000. a. Total assets $116,288,000 b. Total debts (including debts listed in 2.c., below) $ 27,587,000
Comments, if any:_________________________________________________________ __________________________________________________________________________ *As of June 8, 2000 3. Brief description of Debtor's business: Acquires, manages and collects delinquent consumer receivables primarily consisting of charged-off Visa, MasterCard and private label credit card accounts issued by major banks and merchants. 4. The names of any person who directly or indirectly owns, controls, or holds, with power of vote, 5% or more of the voting securities of debtor: Joseph K. Rensin, SAFECO Asset Management Company and Wanger Asset Management, LP. DECLARATION UNDER PENALTY OF PERJURY ON BEHALF OF A CORPORATION -------------------------- I, the Chairman and CEO of Creditrust Corporation named as the Debtor in this case, declare under penalty of perjury that I have read the foregoing Exhibit "A" to Voluntary Petition and that it is true and correct to the best of my information and belief. Date: July 6, 2000 Signature: /s/ JOSEPH K. RENSIN ---------------------------------- Joseph K. Rensin, Chairman and CEO