Former clients of SCI Real Estate Investments, LLC (SCI) appear to have the possibility for legal
remedies for their losses. SCI is an entity which operates as a real estate company here in the United States. Specifically, SCI acquires multi-family and retail properties as 1031 exchanges and investments to individual real estate buyers.
On February 11, 2011, the Los Angeles-based company filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Central District of California.
The confirmation hearing is set to take place on June 13, 2012 for the firm’s liquidation plan.
It turns out the most problematic offered by SCI is the SCI Capital Group Mezzanine Fund. This Fund invested in unsecured loans to SCI and its affiliates. The Fund, however, did not invest in real estate. The loans appear likely to be discharged by SCI’s bankruptcy filing. Further, SCI’s tenant-in-common (TIC) real estate investments have been negatively affected by the collapse of the real estate market.
This is a strong indicator of a complete loss for the investors who invested in TIC.
If you are an investor that has suffered losses investing with SIC, please contact one of our attorneys at 312-332-0000 to discuss your recovery options.
Eccelston Law represents individual and institutional investors nationwide to recover their investment losses caused by securities fraud, unsuitable investment recommendations, and breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars