Receiver Believes Balance of WexTrust Capital Portfolio Will Be Sold Through Competitive Bidding Process

NORTHBROOK, Ill.--(BUSINESS WIRE)--The court-appointed receiver for Chicago-based WexTrust Capital LLC, Timothy J. Coleman, announced today that he was filing for court approval to relinquish all interests in the Park View Hotel, located at 1816 North Clark Street.
According to WexTrust’s Chief Restructuring Officer, Mitchell Kahn, Principal of Badger Real Estate Advisors, “This is the last significant asset we believe needs to be relinquished.”
Mr. Kahn, along with Hilco Real Estate, LLC, were engaged by Mr. Coleman in February, 2009, to sell the real estate assets of WexTrust Capital. The company was charged by the Securities and Exchange Commission with having defrauded roughly 1,200 investors of an estimated $225 million in a Ponzi scheme.

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