AmeriFirst Financial files bankruptcy with over $50 million in debt

By Sarah Lizee

Olympia, Wash., Aug. 28 – AmeriFirst Financial, Inc. filed Chapter 11 bankruptcy on Thursday in the U.S. Bankruptcy Court for the District of Delaware.

In its petition, the company listed 100 to 199 creditors, $50 million to $100 million in assets and $50 million to $100 million in liabilities.

Its largest unsecured creditors are RCP Credit Opportunities Fund Loan SPV (Fund III), LP, based in New York, with a $17.9 million partially secured bond debt claim, RCP Customized Credit Fund (Fund IV-A), LP, based in New York, with a $5.97 million partially secured bond debt claim, and Wells Fargo Bank, NA, based in San Fransisco, with a $1.09 million trade claim.

Pachulski Stang Ziehl & Jones LLP is representing the company.

AmeriFirst Financial is a mortgage lender based in Mesa, Ariz. The Chapter 11 case number is 23-11240.

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