SAVANNAH, Ga. (WSAV) – Master Lending Group LLC, a local to Savannah and private investment group owned by Gregory Hirsch, filed for Chapter 7 protections on July 6.
Judith Hirsch, acting as Power of Attorney for her husband, is represented by attorney Judson C. Hill of Gaston and Hill. According to the filing Gregory Hirsh is suffering from a terminal illness and unable to communicate.
The hedge fund has between 100 and 199 creditors, according to a court filing, with the amount of losses to individual investors ranging from $10,000 to $3 million.
In the court document, Hirsch lists over $6 million in property owned along Bull Street, West Victory and East River Street, just under $1 million in cash and $95,000 in a checking account, along with a $5 million life insurance policy. Those amounts do not add up to the total owed of $42.996 million.
Along with the individual investor losses, the Chapter 7 filing lists that Master Lending LLC and Gregory Hirsch are in breach of promissory note loans totaling $16,000,000.