CAMCO’s $1.75 billion consumer debt portfolio will be auctioned off today in New York as the federal government continues to liquidate the former debt-collection agency’s assets.
Federal Judge Robert Gettleman last week ordered the public auction, which will be conducted by court-appointed receiver Jay Steinberg, with the assistance of New York investment banking firm Keefe, Bruyette & Woods.
Steinberg was responsible for investigating Capital Acquisitions and Management Co.’s assets after the Federal Trade Commission accused the company in early December of violating collection laws by harassing and threatening consumers.
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