Printable View
anyone know why GRP funding is collecting daily "BFS recvbls ACH" -- (just received recent statements from my client I funded with GRP)
I was under the assumption that BFS and GRP are two separate companies with no affiliation... there was a lawsuit between the two companies in the past.. anyone have some insight here?
They are the same company.
they sold to bfs in 2015. the owner than sued BFS for breach of contract and was settled but that doesn't mean the acquisition didn't go through. bfs had a similar venture with GBR out of Atlanta where folks didn't realize BFS actually owned GBR as well. So, your ISO agreements state affiliate, which means, when you send deals, it goes to BFS. Part of that suit mentioned the ach debits were suppose to state grp vs bfs I guess that hasn't been changed. i would contact whoever runs the ship over there at grp and discuss.
I am pretty sure they are separate companies. GRP used their paper for loans but they were never acquired buy BFS
John,
Think you may be off on that. grp companies inc is owned by BFS. The agreement between the two was an asset sale in '15.
Information
SosId: 1430411
Status: Current-Active
Annual Report Status: Current
Citizenship: Foreign
Date Formed: 3/3/2015
Fiscal Month: December
State of Incorporation:
DE
Registered Agent: Corporation Service Company
Addresses
Mailing
1350 Main Street
Springfield, MA 01103-1628
Principal Office
1350 Main Street
Springfield, MA 01103-1628
Reg Office
2626 Glenwood Avenue, Suite 550
Raleigh, NC 27608
Reg Mailing
2626 Glenwood Avenue, Suite 550
Raleigh, NC 27608
Officers
Executive Director
Marc Glazer
3301 North University Drive
Coral Springs FL 33065
President
Michael Marrache
3301 North University Drive
Coral Springs FL 33065-4149
I could be wrong wouldnt be the first timeQuote:
Originally Posted by fundingsmbs
so what was the lawsuit between the two about...
https://www.pacermonitor.com/public/...ies,_Inc_et_al
too extensive to write out. its public data
maybe I am missing something but if bfs owed grp why would grp sue the company that owns them
I don't know the story John, but I have seen other cases where a seller sues a buyer post closing because something that was promised in a deal was not delivered.Quote:
Originally Posted by J.Celifarco
yeah I guess possibleQuote:
Originally Posted by kevinhenry0527
the APA was a stock option vs a cash payout for the sale with specific language on benchmarks that had to be met to get the value of sale. if you read the suit, it lists all the reasons why the previous owner had to sue. my understanding is the owner settled and is no longer in the business. if that's the case, than, it would make sense why BFS is showing up in the debits. Essentially, that would make GRP a satellite office for BFS.Quote:
Originally Posted by kevinhenry0527
While stylistically different, each’s pricing matrix is the same.
https://debanked.com/2018/05/rapid-c...rican-bancard/
here is another one ongoing. This is also post APA. Like Kevin mentioned, lots can go wrong after the APAs.
And that is how Elizabeth became "Karen" getting away from everyone's bsh* tQuote:
Originally Posted by J.Celifarco
Quote:
Originally Posted by kevinhenry0527
I can promise you thats not the story. So while you all had your little laughs...id never hire someone who was in the pokey, you had no idea that some ethical brokers ran for it...
Now you will never know the story