Have you suffered investment losses in a SCI Real Estate Investments, LLC’s TIC or other real estate offerings? If so, The White Law Group may be able to help you recover your losses through FINRA arbitration.
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for recommending SCI Real Estate Investments to their clients.
Brokerage firms have a fiduciary duty to their clients to perform due diligence on an investment prior to offering them for sale to their clients. Based on what is now known about SCI Real Estate Investments and the firm’s investment offerings, it does not appear that the brokerage firms that sold these products did perform the necessary due diligence.
SCI Real Estate Investments, LLC operates as a real estate company in the United States. It acquires multi-family and retail properties in the United States and offers co-ownership interests in those properties as 1031 exchanges and investments to individual real estate buyers. The company was founded in 1994 and is based in Los Angeles, California.
SCI Real Estate Investments LLC and Secured California Investments Inc. (“Debtors”) filed chapter 11 petitions in the Bankruptcy Court for the Central District of California (“Bankruptcy Court”) on February 11, 2011. The two cases, numbers 11-15975 and 11-15987, respectively, were adminstratively consolidated by order of the Bankruptcy Court under case number 11-15975 on March 4, 2011.
On April 27, 2012, the Bankruptcy Court approved the “Second Amended Disclosure Statement Describing First Amended Joint Chapter 11 Plan of Liquidation for SCI Real Estate Investments LLC and Secured California Investments Inc. Dated April 19, 2012.”
The Bankruptcy Court approved the First Amended Joint Chapter 11 Plan of Liquidation on June 15, 2012.
SCI Capital Group Mezzanine Fund is one SCI offering that appears particularly problematic. The Mezzanine Fund did not invest in real estate but invested in unsecured loans to SCI and its affiliates. These loans appear likely to be discharged by SCI’s bankruptcy filing.
Other SCI tenant-in-common (TIC) real estate investments have also been adversely effected by the real estate market collapse.
To determine whether you may be able to recover investment losses incurred as a result of your purchase of a SCI Real Estate Investments’ offering, please contact The White Law Group at 312-238-9650 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.