DURHAM, NC, Jan. 31, 2018 (GLOBE NEWSWIRE) -- UDX, an entity affiliated with Eli Global, has reached a settlement that resolves all claims with the estates of University Directories and related businesses. The settlement enabled UDX to fully recover the amount invested, as well as expenses and interest. UDX was the senior secured creditor of University Directories when it entered bankruptcy in October 2014.
“We are happy the court enforced our rights as senior creditor and approved the settlement which awarded us full cover of principal and interest,” said Greg Lindberg, CEO of Eli Global.
University Directories and its related entities entered bankruptcy under Chapter 11 for reorganization, however, the bankruptcy cases were quickly converted to Chapter 7 liquidation proceedings. University Directories entered bankruptcy with total liabilities of $8,505,270 and assets of $3,552,235.84 after defaulting on its outstanding obligations.
In addition to the University Directories, several related entities filed for bankruptcy protection, including Vilcom Real Estate Development, LLC, Print Shop Management, LLC, Vilcom Interactive Media, LLC and Vilcom Properties, LLC.
About Greg Lindberg
Greg is a bootstrap entrepreneur who started a small health insurance compliance and reimbursement newsletter business with $5,000 in 1991 and grew it without any outside equity to $1 million a year in profit by 2001. He and his team then reinvested that cash flow in over 100 acquisitions that have produced a compound annual growth rate of over 35%on equity capital. Today Greg has beneficial economic interests in over 100 companies with 7,000 employees, $1.75 billion in revenue, and $20 billion in proforma assets including pending acquisitions. Greg’s most important strategy has been long-term thinking with a focus on healthcare and “first who then what.” Greg has never sold a company and has never taken a dividend from his insurance operations. For more information, visit http://greglindberg.com/
About Eli Global
Headquartered in Durham, North Carolina, USA, Eli Global is a private investment firm wholly owned by its founder and employees. With their buy-grow-and-hold philosophy Eli Global does not work within a 3 - 5 year investment horizon, but invests for the long haul, providing companies with the resources and expertise they need to grow, entrepreneurs retain their brand equity. Eli Global is diversified in industries such as life insurance, financial services, health care services, physician practices, information technology, market research, publishing, business information, and more. For more information, visit http://www.eliglobal.com/.