Will Romspen File Bankruptcy In 2025?

Will Romspen file Bankruptcy in 2025? The Magic 8-Ball And Esmeralda The Psychic Predict Romspen Will File BK By The End Of The Year

Many individual investors are asking, “Will Romspen file bankruptcy in 2025?”

Our analysis of their financials and the actions of executives says yes. It’s a foregone conclusion that they will after watching the video of their 2024 investors meeting. There is also another sign that Romspen is preparing to file bankruptcy. It has do with wasting millions of dollars on frivolous lawsuits.

As we all know, Romspen is holding paper on over $1.5 billion in non-performing commercial loans in various funds. Romspen executives like Wesley Roitman and others know insolvency is imminent. However, Romspen has to perform a herculean feat before filing bankruptcy in Ontario to avoid paying investors. Romspen needs to show on paper, they made an effort to reclaim their losses.

This would explain why Romspen has been spending money like a drunken sailor in legal fees in a frivolous lawsuits. Namely, the frivolous defamation lawsuit they filed against MFI-Miami and MFI-Miami Founder Steve Dibert.

It’s also highly unlikely that an Ontario Bankruptcy judge will buy Romspen’s claim MFI-Miami is liable for their massive losses. Romspen’s buffoonish lawyer, Christian Poland has provided evidence to the court that Romspen has had an 8% profit margin for nearly 15 years. The documents to the court also show Romspen has suffered no losses since before the pandemic. Let alone from the articles on MFI-Miami.

Of course, this contradicts the bad news Romspen executives told their investors in July 2024. Yet, Romspen executives laid blame on market conditions and non-performing loans for the sorry state of the company. They also made no mention of bad press coverage or articles on MFI-Miami.

Hmmm…

So, it looks like some Romspen executives like Wesley Roitman may be going to prison!

How Canadian Bankruptcies Work:

In Canada, a corporate bankruptcy occurs when a company is unable to pay its debts and initiates a legal process. They are overseen by the Bankruptcy and Insolvency Act (BIA). Here, a Licensed Insolvency Trustee (LIT) takes control of the company’s assets. They sell them to generate funds. The trustee distributes the proceeds to creditors based on their priority ranking. This effectively dissolves the business once the process is complete. Creditors can also initiate bankruptcy proceedings against a company under certain circumstances.

Key points about corporate bankruptcies in Canada:

Governing law: The Bankruptcy and Insolvency Act (BIA) regulates the process.
Initiation: A company can voluntarily file for bankruptcy or creditors can initiate proceedings against the company through the court.
Licensed Insolvency Trustee (LIT): A court-appointed professional who manages the bankruptcy process, including gathering information about the company’s assets and liabilities, selling assets, and distributing proceeds to creditors.
Creditor hierarchy: Creditors are paid based on their priority, with secured creditors typically receiving payment before unsecured creditors.
Asset liquidation: The LIT will usually sell the company’s assets to generate funds to pay creditors.
Impact on business: In most cases, a company ceases to exist after a bankruptcy is finalized.

Alternative to bankruptcy: Depending on the situation, a company may be able to explore options like a “proposal” under the BIA, which allows for a restructuring of debts to attempt to remain in business.

This Article Originally Appeared On RomspenRipoff.com

Check Out These Government Websites If You Feel You Are A Victim Of Investment Fraud By Romspen:

How To File A Complaint In Canada:

Contact The Canadian Investment Regulatory Organization (CIRO) At 1.877.442.4322 For More Information. You Can Also Email Them At complaints@mfda.ca