“Our agreement with BEH and repayment of the debt that was owed settles this financial obligation and allows us to look ahead with confidence," said Jay Abbasi, chief executive officer of Plain Green.
BOX ELDER, Mont. (PRWEB) January 04, 2018
Plain Green, LLC, the premier online resource for the short-term financial needs of underbanked and subprime consumers, today announces a successful settlement with BEH Gaming Ltd related to loans to the Chippewa Cree Tribe and Chippewa Cree Tribe Development Corporation. Plain Green’s settlement and payment of the debt to BEH releases the Chippewa Cree Tribe and Chippewa Cree Tribe Development Corporation from all liability. The settlement amount is under seal of court order.
“We are pleased to have this matter finally resolved. It has been a dark cloud hanging over our community for some time and this settlement marks the end of a troubling era in our history,” said Harlan Baker, chairman of the Chippewa Cree Tribe. “There was a very difficult period when we were unable to operate financially because our assets were frozen due to legal maneuvering associated with this lawsuit. The suit was a burden on all in the community who relied on government jobs and services to care for their families.”
The agreement settles a lawsuit filed by Florida-based BEH Gaming Ltd in 2014 (Case # DV-14-142 in the 12th Judicial District Court in Hill County, Montana) to repay loans to expand Northern Winz Hotel and Casino.
Baker continued, “The future of the community and our financial stability depends on the creation of new businesses though our economic development arm. Plain Green provides a wonderful example of one of our business units supporting the tribe using their financial strength to help us pay our debt. We’re now able to bring closure to the matter and focus on future opportunities for our community.”
Jay Abbasi, chief executive officer of Plain Green, said, “Our agreement with BEH and repayment of the debt that was owed settles this financial obligation and allows us to look ahead with confidence. As a wholly-owned business of the Chippewa Cree Tribe, Plain Green is proud to provide financial support to our community. We are working with tribal leaders to continue business development and programs that deliver the greatest economic and social impact to the Chippewa Cree Tribe.”
Beau Mitchell, Chippewa Cree Tribe Business Committee member, added, “As we continue to address and remedy liabilities, each step forward we take will have positive ripple effects on future generations.”
About Plain Green
Plain Green, LLC is the premier online resource for the short-term financial needs of underbanked and subprime consumers. By offering bi-weekly and monthly installment loans, Plain Green helps consumers meet their emergency and cash-flow needs quickly and easily online. Led by a strong management team with extensive experience in the financial services industry, Plain Green markets, underwrites, and services its own portfolio and is well-positioned to maximize the economic and social impact to the Chippewa Cree Tribe.