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07-31-2020, 02:14 PM #1
Par??
Does anyone knows for a fact what is going on with PAR beside all the rumors? We have multiple merchants needing documents from PAR which we requested from them and none of them have been able to reach PAR. We tried to reach out as well to see what was going on but no one is answering the phone.
Does anyone actually know?
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07-31-2020, 02:31 PM #2
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Perhaps searching through the court documents you might find the appointed trustee of attorneys working on the case.
Hedley Lamarr......That's Hedley
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07-31-2020, 11:45 PM #3
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Par Funding went into a forced receivership pursuant to a court order in the SEC case. There is also an asset freeze order that encompasses up to $482 million.
The receiver's name is Ryan Stumphauzer of Stumphauzer Foslio Sloman Ross & Kolaya PLLC. He is now in charge of Par.
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07-31-2020, 11:45 PM #4
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This is the receiver's email address:
rstumphauzer@sfslaw.com
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08-01-2020, 06:37 AM #5
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Perfect, they were dirty as can be.
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08-01-2020, 01:48 PM #6
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All You Need To Know
https://www.sec.gov/litigation/litre...20/lr24860.htmDave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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08-01-2020, 02:04 PM #7
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08-01-2020, 09:50 PM #8
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Not a stupid question. The answer is yes although there may be a temporary pause on them while the receiver works out all the proper bank accounts for everything to run through. This is what happened in 1st Global. All those funds will go towards the money owed to the investors. This case is basically the same situation as 1st Global
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08-02-2020, 02:13 AM #9
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https://www.inquirer.com/news/par-fu...-20200731.html
So there was a raid?
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08-02-2020, 09:26 PM #10
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Perfect
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08-02-2020, 11:29 PM #11
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So is Par still able to fund new deals ?
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08-03-2020, 08:44 AM #12
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Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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08-03-2020, 11:23 AM #13
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08-04-2020, 03:53 PM #14
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[QUOTE=SCCNY;143690]Sorry if a stupid question but what will happen with their current fundings will they still be pulling payments from merchants?[/QU
Hmm what happens to all those reverses that are not getting their weekly credit. I don't think they have been pulling debits from merchants accounts from the conversations I have had in the past few days.
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08-04-2020, 04:28 PM #15
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08-04-2020, 05:05 PM #16
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08-07-2020, 06:00 PM #17