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Government Contracting
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Adjustment
and Collection Services (SIC# 7322)
G&A owns a 25% interest in a company called Government Financial Services,
LLC (GFS). This firm owned, in partnership with the Federal Deposit
Insurance Corporation (FDIC), a $300 million portfolio of judgements,
deficiencies, and charge-offs that originated from a number of failed
savings and loans in Texas, Louisiana, Mississippi, and Oklahoma.
As the General Partner, GFS was responsible for collecting monies
owed on these assets. G&A housed GFS in its offices in Houston and
oversaw the collection effort. We have liquidated virtually all of
the assets and are now in the process of dissolving the partnership.
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