Thaxton payout now delayed

The second and most-substantial payout in the Thaxton bankruptcy recovery for investors has been delayed.

Though expected at the end of last month, the sale of the former Pageland-based insurance and investment firm’s largest asset, Southern Management Co., a commercial lender to non-prime borrowers, has been indefinitely delayed due to the buyer not getting all the needed approvals from regulatory bodies to close the deal, according to the Web site set up for the purpose of informing investors, www.thaxtonclassaction.com

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