Wednesday, Apr 23, 2008
Yet another one bites the dust
Mortgagesolutions: Elephant places subsidiary into liquidation
Elephant Loans & Mortgages Plc has placed one of its operating subsidiaries, Elephant Loans Ltd., into liquidation as part of an ongoing restructure. The firm will now conduct its trading activities through another subsidiary, Elephant Loans (Direct) Ltd.
Posted by jack c @ 12:31 PM (235 views) Add Comment
1 Comment
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1. 51ck-6-51x said...
Company description:
Elephant Loans & Mortgages PLC offers residential mortgages and non-investment insurance. The Company serves customers seeking to consolidate and refinance existing sources of debt by tapping into the equity in their homes.
The company is liquidating (by a reverse takeover), not going bankrupt. The business model is going to provide less margin now, best to liquidate and use the capital for a different business.