Columbus, OH (PRWEB) October 11, 2012
One Exchange Street and DailyDAC announced today that they have entered into a strategic relationship to bolster the ancillary education each offers about the subject of distressed investing.
“One Exchange Street’s laser focus has been on bringing transparency and efficiency to what has, to date, been an extremely opaque and inefficient market,” according to Todd Zoha, CEO at One Exchange Street. “Increasing transparency and standardizing documentation are not enough to level the playing field between buyers and sellers – we also need to provide top-tier education so that the average claim holder can be more knowledgeable about the market for bankruptcy claims.”
DailyDAC’s Opportunistic Deal Database, essentially a “Craig’s List” for opportunities to buy, loan to, and invest into troubled situations, sees a similar need to educate business people about the world of distressed investing.
Felicia Burda, Director of Strategic Relationships at DailyDAC and a former United States Trustee and former Deputy Executive Director of the American Bankruptcy Institute, noted “the inefficiency in the market for distressed debt and distressed hard assets is astounding.”
“In the past,” according to Burda, “a creditor in a bankruptcy case had only two choices: wait some unknown amount of time to receive some unknown percentage of its total claim or sell its claim to one of a handful of professional claims traders who invariably had much better knowledge about bankruptcy in general and about the particular bankruptcy case. One Exchange Street and DailyDAC have a shared vision to even the playing field.”
About One Exchange Street
One Exchange Street is the first online marketplace for the buying and selling of bankruptcy claims, a market measured in the hundreds of billions of dollars. One Exchange Street brings much-needed transparency, liquidity, standardization and seamless execution to the market for bankruptcy claims, creating an equal playing field for buyers and sellers.
DailyDAC - Deal Acquisition Central - provides subscribers with access to databases containing information about private companies that are for sale, selling select assets, looking for an equity partner, and/or seeking debt financing. DailyDAC's Opportunistic Deal Database focuses on deals involving companies in financial distress or that have other reasons necessitating urgency. DailyDAC's Mature Deal Database focuses on companies with positive EBITDA and which are likely of particular interest to the private equity community.