Bankrupt Lender Disputed Buyout

Santa Barbara-based hedge fund Pacificor is battling in bankruptcy court with John Gaiser of Camarillo-the founder of Agoura-Hills based Quality Home Loans. According to a Pacific Coast Business Times report, Pacificor claimed it bought the bankrupt mortgage lender after it filed for Chapter 11 bankruptcy protection in August. Gaiser now disputes the purchase, and a trustee is to be appointed while the claim is investigated.

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