Synrgo Chapter 11 Case Summary

​​​Synrgo, Inc., a Brea, Calif.-based provider of real estate document recording and post-closing services, filed for chapter 11 protection on Tuesday, May 18, in the Bankruptcy Court for the Central District of California. According to Synrgo CEO Karl Klessig, the need to file chapter 11 was precipitated by the refusal of prepetition secured creditor UMB Bank, owed “approximately” $40 million, to make a $2.4 million daily cash advance to the debtor on its receivables. Read our full case summary of the filing here: https://reorg.com/synrgo-chapter-11/