Encore Capital Group (ECPG) Settles Legal Dispute
Encore Capital Group, Inc. (Nasdaq: ECPG) announced that it has settled a pending legal dispute with Jefferson Capital Systems, LLC and its parent, CompuCredit Corporation.
Under the terms of the settlement, all of the parties' obligations relating to the purchase and delivery of accounts under the Asset Purchase and Forward Flow Agreement dated June 2, 2005, as amended, as well as the related Balance Transfer Agreement dated the same date were satisfied through Encore's purchase of a large portfolio of charged-off credit card accounts on commercially reasonable terms and the resumption of the balance transfer program with Jefferson Capital.
Under the terms of the settlement, all of the parties' obligations relating to the purchase and delivery of accounts under the Asset Purchase and Forward Flow Agreement dated June 2, 2005, as amended, as well as the related Balance Transfer Agreement dated the same date were satisfied through Encore's purchase of a large portfolio of charged-off credit card accounts on commercially reasonable terms and the resumption of the balance transfer program with Jefferson Capital.
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