Government
Financial Services, LLC (GFS) was organized in 1993 to acquire and liquidate
a $300 million pool of judgements, deficiencies, and charge-offs from
failed thrifts in Texas and several contiguous states. GFS serves as
the General Partner in the partnership that owns the assets. The limited
partner is the Federal Deposit Insurance Corporation as successor to
the Resolution Trust Corporation. During the first three years of the
partnership, GFS collected nearly $3.0 million on these assets. In 1997
GFS sold the uncollected assets.
