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November 27, 2017
Stacy Stacey Schacter to 15th Annual Wine Tasting Gala on at Gotham Hall in New York

Stacey Schacter, CEO of VION Investments, to attend the 15th Annual Wine Tasting Gala on November 29, 2017 at Gotham Hall in New York.



November 14, 2017
Stacey Schacter to attend 3rd Annual Investors' Conference on Marketplace Lending Read More >
September 19, 2017
Stacey Schacter to attend CFA's 73rd Annual Convention Read More >
September 19, 2017
Stacey Schacter to speak at Canadian Lenders Summit Read More >
July 12, 2017
2017 ABS East Read More >
July 12, 2017
i-Global Specialty Finance Summit 2017 Read More >
July 12, 2017
2017 Axial Concord Read More >
April 11, 2017
DealSource at ACG Intergrowth 2017 Read More >
April 11, 2017
2017 TMA Europe Annual Conference Read More >
January 3, 2017
2017 TMA Distressed Investing Conference Read More >
September 22, 2016
2016 TMA Europe Distressed Investing Event Read More >
August 10, 2016
VION Investments CEO to speak at NPL Europe 2016 in London Read More >
January 1, 2016
VION CEO to speak at Distressed Investments Forum in London Read More >
November 20, 2015
VION Investments CEO to speak at Alternative Investing Forum in London Read More >
August 5, 2015
VION Investments CEO to speak at Alternative Investing Forum in London Read More >
March 26, 2015
NPL Hotspots Around the Globe Read More >
February 18, 2015
VION announces 2015 Trade Show Schedule Read More >
May 23, 2014
VION Investments CEO to Speak at Specialty Finance Summit in September 2014. Read More >
January 6, 2014
Stacey Schacter Featured in The Suit Magazine Read More >
October 11, 2013
Stacey Schacter Featured on CoporateLiveWire.com's Round Table Discussion on Asset Based Finance Read More >
July 1, 2013
VION's Arizona Financial Office Moves to Scottsdale Read More >
May 22, 2013
VION Completes Sale of $1.3 Billion Loan Portfolio Read More >
March 19, 2013
VION Receivable Investments Releases $1.3 billion NPL Portfolio for SaleRead More >
March 7, 2013
VION Chief Development Officer Larry L. Curran II joins the Board of Advisors for Colorado State University's Institute for Entrepreneurship Read More >
January 16, 2013
VION Receivable Investments Acquires $72 Million in Credit Card Receivables Read More >
July 11, 2012
VION Announces Private/Public Partnership with Rhode Island Turnpike and Bridge Authority (RITBA) Read More >
February 6, 2012
VION Announces Purchase of €850M (US $1.1B) in Spanish Receivables Read More >
February 1, 2012
VION Opens Madrid Office Read More >
July 26, 2011
VION Purchases Land-Secured Loan Portfolio Read More >
April 18, 2011
VION Announces Expansion into Merchant Cash Advance Business Read More >
March 31, 2011
VION Receivable Investments Hires Neil Brodsky as General Counsel Read More >
October 13, 2010
VION Receivable Investments Announces Multi-Million Dollar Line of Credit for Sparta Commercial Services, Inc. Read More >
January 16, 2013
VION Hires Kathryn Schilling as Marketing Assistant Read More >
September 21, 2010
VION Receivable Investments, Announces Acquisition of Interest in $1.5B Pool of Performing Receivables Read More >
April 27, 2010
VION Receivable Investments Hires Anthony Azizeh as Senior Financial Analyst. Read More >
April 27, 2010
VION Receivable Investments Hires Jason Van Vacter as Director of Analytics and Infrastructure Read More >
April 26, 2010
VION Receivable Investments Hires Cheryl Karcher as Vice President of Analytics. Read More >
April 8, 2010
VION Receivable Investments Hires David Reak as COO Read More >
March 25, 2010
Hudson & Keyse, LLC Completes Debt Restructuring with VION Receivable Investments. Read More >
October 7, 2009
VION Receivable Investments Partners with Global Debt Registry Read More >

Stacey Schacter to 15th Annual Wine Tasting Gala on at Gotham Hall in New York

Schacter

Atlanta, GA — November 27, 2017. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be attending the 15th Annual Wine Tasting Gala at Gotham Hall in New York, NY on November 29, 2017.

For more information, please contact VION Business Development at 877-845-5242.

Stacey Schacter, CEO of VION Investments, to attend 3rd Annual Investors' Conference on Marketplace Lending.

Schacter

Atlanta, GA — November 14, 2017. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be attending 3rd Annual Investors' Conference on Marketplace Lending at the Marriott New York Downtown on December 1, 2017.

For more information, please contact VION Business Development at 877-845-5242.

Stacey Schacter, CEO of VION Investments, to attend CFA's 73rd Annual Convention.

Schacter

Atlanta, GA — October 30, 2017. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be attending CFA’s 73rd Annual Convention at the Sheraton Grand in Chicago, IL on November 8 – 10, 2017.

For more information, please contact VION Business Development at 877-845-5242.

Stacey Schacter, CEO of VION Investments, to speak at Canadian Lenders Summit 2017.

Schacter

Atlanta, GA — September 19, 2017. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be speaking on the topic of "Portfolio Diversification: Meeting High Internal Rate of Return Investment Criteria" at the inaugural Canadian Lenders Summit presented by Canadian Lenders Association and iGlobal Forum on October 26, 2017 in Toronto, Canada.

For more information, please contact VION Business Development at 877-845-5242.

Stacey Schacter, CEO of VION Investments, to attend ABS East 1017.

Schacter

Atlanta, GA — July 12, 2017. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be attending the ABS East 2017 hosted by IMN, September 17-19, in Miami Beach.

For more information, please contact VION Business Development at 877-845-5242.

Stacey Schacter, CEO of VION Investments, to attend the i-Global Specialty Finance Summit 2017.

Schacter

Atlanta, GA — July 12, 2017. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be attending the i-Global Specialty Finance Summit 2017, September 13-14, at The Pierre, A Taj Hotel, New York.

For more information, please contact VION Business Development at 877-845-5242.

Stacey Schacter, CEO of VION Investments, to attend 2017 Axial Concord.

Schacter

Atlanta, GA — July 12, 2017. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be attending the 2017 Axial Concord, July 18, in Chicago.

For more information, please contact VION Business Development at 877-845-5242.

Stacey Schacter, CEO of VION Investments, to speak at NPL South Europe 2017.

Bowen

Atlanta, GA — May 1, 2017. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be speaking at NPL South Europe hosted by SmithNovak, June 20 - 21 in Milan.

For more information, please contact VION Business Development at 877-845-5242. To schedule a meeting during the event, click here.

Stacey Schacter and Neil Brodsky of VION Investments will be Exhibiting at DealSource During ACG Intergrowth in Las Vegas

ACG Logo

Atlanta, GA — April 2017. Stacey Schacter, CEO and Neil Brodsky, VION's Chief Legal Officer will be Exhibiting at DealSource During ACG Intergrowth in Las Vegas on April 24-26, 2017. See us at booth 949. Please click here to schedule a meeting.

For more information about Stacey Schacter's participation in this event, please contact VION Business Development at 877-845-5242 or email to vion@vioninv.com. For more information about the event, please Click Here

Stacey Schacter to attend 2017 TMA Europe Annual Conference

Bowen

Atlanta, GA — April 2017. Stacey Schacter, CEO of VION Investments, will be attending the 2017 TMA Europe Annual Conference on June 15-16, 2017 in London. Please click here to schedule a meeting.

For more information about Stacey Schacter's participation in this event, please contact VION Business Development at 877-845-5242 or email to vion@vioninv.com. For more information about the event, please Click Here

VION to Attend 11th Annual TMA Distressed Investing Conference

Bowen

Atlanta, GA — January 2017. Stacey Schacter, CEO of VION Investments, will be attending the 11th Annual TMA Distressed Investing Conference February 1-3, 2017 in Las Vegas. Please click here to schedule a meeting.

Now in its eleventh year, the TMA Distressed Investing Conference is the preferred meeting place for corporate restructuring and distressed investing professionals. Join your colleagues in Las Vegas to connect with deal partners, meet with capital providers, and network with the industry’s leading professionals.

For more information about Stacey Schacter's participation in this event, please contact VION Business Development at 877-845-5242 or email to vion@vioninv.com. For more information about the event, please Click Here

VION Investments CEO to speak at Distressed Investments Forum in London

Bowen

Atlanta, GA — January 2016. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION has been selected to speak at the Distressed Investments Forum on March 9-10, 2016 in London.

This forum offers a unique opportunity to hear from industry leaders from around the globe discussing the current state of NPLs and investments opportunities in their respected regions. The forum will feature three full hours of one-on-one meetings arranged by the DDC Financial Group business development team. The topic of Mr. Schacter's forum will focus on industry trends from a U.S. perspective.

For more information about Stacey Schacter's participation in this event, please contact VION Business Development at 877-845-5242 or email to vion@vioninv.com. For more information about the Distressed Investments Forum, please Click Here

VION Investments CEO to speak at Specialty Finance Summit in New York

Bowen

Atlanta, GA — November 20, 2015. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION has been selected to speak at the Fifth AnnualSpecialty Finance Summit, January 12 & 13, 2016 in New York City.

The Summit brings together financial experts from around the world to explore recent events and economic shifts that are dramatically changing the face of business funding. With an increase in small businesses startups driving demand for credit, the traditional banking sector can no longer meet demand, leaving a funding gap worth billions in small deals through origination and packaged securities. Third party lenders are filling the void left by traditional lending practices through emerging strategies both online and in person, and across all emerging industries.

For more information about Stacey Schacter's participation in this event, please contact VION Business Development at 877-845-5242 or email to vion@vioninv.com. For more information about the Specialty Finance Summit, please Click Here

VION Investments CEO to speak at NPL International

Bowen

Atlanta, GA — March 2015. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION has been selected to speak at the NPL International to be held in Paris April 23-24.

The meeting, brings together senior-level industry practitioners from institutional investing, asset management, hedge funds, private equity, venture capital, investment banks, and law firms to network, discuss industry trends, and benchmark best practices and strategies moving forward. The topic of Mr. Schacter's forum will focus on industry trends from a U.S. perspective.

For more information about the September Specialty Finance Summit, please visit http://www.smithnovak.com/conferences/npl-international-programme-1.html.

VION Investments CEO to Speak
at Specialty Finance Summit in September 2014.

Bowen

Atlanta, GA — May 2014. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION has been selected to speak at the second Specialty Finance Summit to be held in New York City on September 9th, 2014. The Summit, sponsored by iGlobal Forum, brings together senior-level industry practitioners from institutional investing, asset management, hedge funds, private equity, venture capital, investment banks, and law firms to network, discuss industry trends, and benchmark best practices and strategies moving forward. The topic of Mr. Schacter's forum will be "Investing in Off-The-Run Asset Classes." Panelists will analyze emerging investment opportunities, focusing on legal settlement funding and film financing. Discussion will explore additional risks, regulatory considerations and product structures of esoteric asset classes, and understanding how to execute an appropriate business plan. For more information about the September Specialty Finance Summit, please visit www.iglobalforum.com.

Adam K. Bowen of VION Investments to Speak at ACFE Global Fraud Conference

Bowen

Atlanta, GA – February 2014. VION Investments (VION) is pleased announce that Adam K. Bowen, VION Manager of Forensic Audit, has been invited by the Association of Certified Fraud Examiners (ACFE) to speak at the 25th Annual Global Fraud Conference in June. The ACFE is the world's largest anti-fraud organization. The Global Fraud Conference is the world's largest anti-fraud event with the purpose of combating fraud and misconduct in today's business environment. Mr. Bowen was invited to speak at this year's conference to provide his perspective on creative fraud execution strategies and holistic anti-fraud programs. Mr. Bowen was invited by the ACFE to speak from among thousands considered.

David Reak, Chief Operating Officer of VION said, "Mr. Bowen has achieved well-deserved prominence among fraud examiners and the world's leading financial institutions alike for his work related to anti-fraud analysis, process management, and controls. His expertise provides VION and its internal and external stakeholders with unparalleled confidence in making critical business decisions. We are pleased to have a professional of Adam's caliber leading our anti-fraud efforts."

Mr. Bowen stated, "It is a true honor to be invited to speak at the world's largest anti-fraud event. The most harmful and dangerous fraud is not the one we detect but instead the ones we don't. We must be three steps ahead of our adversary. Cutting fraud globally strengthens our economy, enabling business expansion and job creation. Understanding the great importance of our work, my fellow fraud examiners and I must—and will—continue our charge to remain vigilant in the battle against fraud. The Global Fraud Conference is a mechanism for us to expand our knowledge and skills. It is a privilege to serve and represent VION, where leading my organization's anti-fraud efforts is not just my passion but also a true pleasure.

Mr. Bowen's session at the Global Fraud Conference will primarily focus on the covert ability to use ordinary financial statement entries in an opposing way to manipulate accounts or fraudulently subjugate financial statements. The presentation is expected to be published following the June event and available as a future white paper download through the VION website.

Download PDF Version

Excerpt of article from The Suit Magazine.

A Receivables Expert Interested in Consumer Protection

An Obamacare requirement prohibiting hospitals from "engaging in extraordinary collection practices" may end up being a hard pill for professionals in the medical receivables industry to swallow. So asserts Stacey Schacter, chief executive officer of Vion Receivables Investments, headquartered in Atlanta, GA. Medical receivables are one of his firm's current specialties. Vion purchases all types of assets and debts – good, bad, performing or non-performing – for either collection or reinvestment. "It is a defined term. What that means is hospitals can no longer report certain medical debt to credit bureaus," Schacter explained. This leaves a fairly effective tool sitting unused in the bottom drawer of the collection industry tool box.

Under the Patient Protection and Affordable Care Act, better known as Obamacare, hospitals and other medical facilities are required to "qualify" patients for medical assistance plans. If the patient qualifies but still has an outstanding balance he or she is unable to pay, the hospital cannot turn that amount over for collection. This potential inability represents a significant change in standard collection procedures.

This may also be the catalyst for other relatively natural reactions to changes brought on by Obamacare – the development of new career fields. Even though many hospitals and other medical care facilities already have social workers to guide patients through the financial maze associated with health care, the implementation of additional Obamacare requirements is likely to bring on increased specialization for professionals currently in the field. This, along with potentially larger workloads equals the need for more personnel.

Schacter also sees Obamacare as being the spark for a massive upswing in medical coding jobs, as different and more specific coding requirements become standard operating procedure. The federal law – still struggling toward implementation – marches forward with new coding requirements, by 2015 adding to that the establishment and maintenance of mandatory electronic medical records.

"I certainly am no expert on Obamacare, but the requirement of electronic records, plus the fact it is also requiring new coding procedures means that a lot of medical facilities and hospitals potentially have a major problem on their hands," Schacter explained. Even before Obamacare, Schacter said that medical coding was a challenge.

"Medical professionals already were not very good with the old system," he said. "It is going to take a lot more organization by medical professionals in order to get their reimbursements."

Schacter also anticipates that consumers – medical patients – will experience inaccurate billing due to Obamacare mix-ups. Although he recognizes that his industry may not be perceived as consumer friendly by the general public, he begs to differ on that aspect. Schacter is very active in consumer protection efforts and has taken proactive steps, including offering a sizable library of information aimed at consumer financial education – including several do-it-yourself calculators – on his firm's website.

"We view ourselves as a consumer-friendly firm," Schacter said, noting that he's adding even more consumer-oriented information, such as links to consumer protection agencies. He is also keeping a watchful eye on the activities of the Federal Consumer Financial Protection Bureau created in 2010 by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The agency, which had its first director in 2012, is still ramping up its involvement at the intersection of the financial industry and the protection of consumer rights.

In 1999, one of his large clients made him an offer Schacter couldn't refuse: to become General Counsel for the company. He jokes that he went over to the "dark side" after being promoted again, this time from the lead attorney position to CEO. Eight years later, the big crash in 2007 happened and it prepared him for what he does now in ways he never expected. After the Wall Street crash, Schacter said that he was fortunate to hook up immediately with a private equity group and begin doing something he always dreamed about: to design and build a company the way he wanted to do it.

"I used what I had learned as an attorney and as an executive to build something unique and beneficial at a particularly opportune time for that sector of the market," Schacter explained. "And that was the start of Vion." Despite the market collapse, the timing couldn't have been better. "We had capital while everybody else was sitting on the sidelines," he said. "That really allowed us to jumpstart the business at a time when liquidity was desperately needed."

Today Schacter works with businesses to free up capital that could be put to a better use if it were not tied up. They don't necessarily have to be distressed – although many are. Often, it isn't the business itself that is challenged, but the type of receivables. The business itself may simply be ill-equipped to handle those accounts.

"Our business is one of acquisition of financial assets," Schacter explained. "We are looking for clients for whom we can provide a higher and better use of their capital," he said. "Many times, assets or liabilities are no longer a strategic fit for a business. We can help."

Stacey Schacter Featured on CoporateLiveWire.com's Round Table Discussion on Asset Based Finance

The following excerpts are from a round table discussion on corporatelivewire.com. Click here to view the full discussion with other leading experts.

Stacey J. Schacter
Vion Receivable Investments
T: +1 678 823 6181
E: sschacter@vioninv.com
Owner of an international receivable purchasing entity focusing on the entire life cycle, including performing, sub-prime, re-performing and defaulted receivables of a consumer or commercial nature.


1) Why choose asset based finance?

When companies need liquidity they normally need it quickly. This is one prime advantage of asset based financing. Borrowers get accelerated cash flow thereby supporting their working capital needs. Customarily, companies will use their current assets as collateral for the loan liquefying their cash position instead of waiting for their product to sell and then collect the receivable generated from the sale. This can hasten cash flow by as much as 90 days or more. Most asset based lending is on a revolver basis, so the company only needs to draw down the funds as needed, which helps keep interests cost low. This structure provides advantages over term loans which have more rigid repayment terms better suited for fixed asset needs, such as expensive machinery and equipment or real estate. Companies need to remember that ABL revolvers merely accelerate cash flow expected to come in the future; ABL borrowing does not add new cash to a business.

2) Traditionally, asset based lending funds have been utilised by asset-intensive businesses such as wholesalers, retailers, durable goods firms and companies in the oil and gas sectors that are looking to optimise their cash flows. Is this still the case or are firms with a wider variety of intangible assets now taking advantage of this method of alternative investment?

ABL lending was once a financing of last resort for companies with poor credit ratings or experience who failed to qualify for more traditional unsecured types of funding. Not only has ABL lending become mainstream for all types of businesses, those businesses can now utilise intangibles to increase their borrowing base. Whether they should is another matter. Intangibles, such as patents, trade names or trademarks, are stripped away from the company and put into a special purpose entity. If the underlying ABL loan defaults, the lender can then access the brand for management or sale purposes. Intangible financing generally works with established brands or products. Start-ups or companies in smaller markets will have difficulty in utilising this additional asset as a financial resource.

3) What asset-based misconceptions currently exist?

Management often believes that ABL lending is expensive and that the companies that use it are financially weak, but that is far from the truth. Most companies using ABL are doing it as a way to manage cash flow in an efficient manner. Further, costs have come down industry wide due to competition. As with any lending: the better your credit, the better your rate. It is important to look at all the fees associated with each type of lending to really see which version of financing is cheaper and consider the flexibility you get with ABL vs. traditional term facilities. Often these non-monetary handcuffs have a very high cost. The last myth that comes to mind is reputation risk. Some companies believe taking an ABL loan attaches a stigma to the company. Yet, the top 31 companies produced over $17.5B in ABL loans in 2012(1)to many companies that are quite healthy and common household names.

5) Have you witnessed any prominent strategies such as revolving credit facility ("revolver") or floor plan finance in your jurisdiction?

Due to high competition, companies are becoming creative by using old tools to do new tricks. For example, borrowers using credit insurance can get better rates from ABL lenders since the risk of underlying customer default is lower. It allows greater advance rates and increases eligible AR that otherwise might not qualify due to aging. Other tools have returned to pre-crisis levels, such as over-advancement, aggressive advance rates and lower pricing. We have been involved in hybrid structures where we might advance against one asset on an ABL basis while more traditional lenders come in on a project finance basis. I tell people that today in order to succeed you can't put your customer in your box, you have to build your box around the customer.

6) What fraud detection and prevention strategies should lenders put in place?

We have forensic accountants on staff as fraud, unfortunately, is so pervasive. Every lender must have a designed plan for every credit. We start off every deal with a simple internet search. Each plan should include: a) reviewing documentation; b) providing the customer with a prioritisation on the needed documentation and data so the loan can be closed quickly; c) identifying interview candidates and actually conducting interviews (it must include the people actually doing the work, not the higher up executives); d) pulling invoices (make sure it's a statistically significant sample from at least the last 12 months) and follow the cash through the entire process; e) examine the accounting system for controls; f) background checks on the principals of the company and g) talk to your customer's customers. Don't let your client set up the calls. This is only a sample. We have a lengthy checklist that we look to depending on the circumstances.

7) How does a lender determine the appropriate advance rate on eligible receivables?

Normally the best predictor of future collections is past collections. The more data points we can collect the more comfortable we are with the advance rate. We look at payment patterns, including customers who consistently slow pay, but pay anyway and factor that into the calculation. We choose not to use a set definition for unqualified AR (such as 60 days delinquent), but rather take a more holistic approach to the credit. We also look at what must be done to collect the receivable in the event of a customer default. Is it a high cost decentralised operation or a centralised location with competent staff? It is important for both borrower and lender to understand what impact the form of borrowing will have on the borrower. Simply, can they afford it and for how long? No one wins if one party fails.

8) To what extent is it difficult to accurately value assets for collateral purposes?

There are four major types of assets used for ABL: accounts receivable, inventory, equipment and real estate. The easiest of these to value is typically accounts receivable and the most difficult inventory, though it is often used in ABL loans. Receivables normally follow set trends and collection rates will not normally have wide swings. Receivables collect out quickly, providing fast liquidity for the lender. Predictability is paramount for most ABL lenders. Inventory, on the other hand, may be unique, in various stages of processing, and subject to disputes from clients. For example, an apparel manufacturer may regularly sell to a big box store. Once the store finds out the company is in distress they may reduce orders and return portions of prior orders and take other actions that could imperil the receivable as well. However, inventory does replenish quickly and can be liquidated faster than real estate. Real estate may have a special purpose and typically takes much longer to liquidate, so advance rates may not be as high as for receivables. Equipment is normally easily valued, but advance rates are low due to the unique nature of equipment for a given company. For example, store fixtures may only be worth five to ten per cent of original cost. Equipment and real estate are more typically part of a term loan facility than an ABL program as ABL lenders typically advance based on cash flow and real estate and equipment do not fit that mould well.

9) How has the level of due diligence on the quality of the asset increased in recent years?

The "Great Recession" was a worthy teacher. Companies quickly found out the assets they thought had value were worth far less than anticipated. There are really two types of diligence, credit and legal. Many people focus on the credit only to get hung up unexpectedly on the legal aspects of a transaction. Understand up front the need for legal structures and bank account arrangements. Your bank may not have the same urgency you do to get a deal done quickly, so talk to your banker early on to explain that you may be looking at an ABL arrangement. Even though covenant restrictions have decreased, the diligence to get the deal done has increased. While lenders have become more aggressive on easily valued assets, unusual assets may still be tough to get through the process. A well-organised borrower can literally save weeks in getting a deal done. Anything that can help the field auditor get through the valuation will be appreciated and certainty of valuation translates into higher advance rates.

10) How often should asset-based lenders monitor the collateral to ensure that the amount of funds being borrowed results in an acceptable loan-to-collateral value?

On-going monitoring of collateral helps maintain the business relationship. A lender that frequently monitors collateral for the borrowing base can usually make more funds available to the borrower. Monitoring is not the same as on-site monitoring, which early on may be as frequent as quarterly or infrequent as yearly, depending on the type of collateral involved. The ability for the lender to remotely access the borrower's systems is a big plus. The key is exercising the degree of control necessary to manage and mitigate the risks; the higher the risk, the greater the control needed. To achieve control, lenders need significant management expertise, a thorough understanding of the borrower's business, good reporting systems, and ongoing supervision of the collateral and the relationship. The type of collateral also determines the monitoring frequency. Inventory levels must be monitored more closely than receivables since the quality of receivables changes slower than inventory.

11) Are ABL strategies affected by greater economic instabilities?

Absolutely. ABL is all about liquidity. In an expanding economy companies have an easier time obtaining cash and may be eligible for more traditional financing. As the economy contracts and moneyline banks tighten underwriting standards, companies will have greater liquidity needs to weather the storm at the same time banks are tightening credit. The end result is an increase in the need for ABL. ABL lenders must similarly adopt, but this is where ABL can shine. ABL's flexibility to quickly adjust advance rates and other terms means the customer can still have access to capital when it needs it most. Since the lender is really more concerned with the value of the collateral than the overall profitability of the business, a slump in earning could end up having only a modest effect of the company's ability to borrow.

12) What options are available to a company should they default on a payment?

A default of a payment could be a minor or major event depending on the collateral position. We have worked in an advisory role to several lenders who brought us into payment default situations, not to liquidate the position, but rather to verify the collateral value. When the collateral has been verified and the lender knows it is protected it can then work with the borrower by either providing more liquidity, modifying terms or otherwise liquidating its position, but this is normally a last resort and may actually be instituted by the borrower. Amend and extend applies in the ABL world as much as in the traditional banking world.

13) What key trends do you expect to see over the coming year and in an ideal world what would you like to see implemented or changed?

As the world economy continues to expand liquidity will increase and lenders will need to find ways to deploy that liquidity. New entrants will likely look to ABL thinking it is a good place for incremental yield increasing competition in an already hyper-competitive market. While interest rates may creep up, the impact of such increases should be negligible. Companies may very well refinance out of traditional loans to enjoy the flexibility and relatively low pricing of ABL, or use a combination of debt structures to satisfy their needs. So, what can go wrong? The economy is still fragile and jolts can still have lenders over-reacting, not to mention government intervention in credit policy and overall regulation. However, for the nascent company, liquidity may still be elusive due to stronger underwriting. In other words, lenders will fight tooth and nail to lend to established credits while eschewing those which have been unable or unwilling to take on either traditional or ABL lines.

VION Completes Sale of $1.3 Billion Loan Portfolio

Atlanta, GA — May 22, 2013. VION Receivable Investments (VION) is pleased to announce the successful closing (sale) of a non-performing loan portfolio with an approximate face value of $1.3 billion. The portfolio was traded to two buyers, segmented by medical accounts, and second grouping of credit card, commercial and consumer loan accounts.

"Our goals were to capitalize on favorable market pricing and free operational resources to pursue other VION business interests, and we successfully achieved both," said Larry L. Curran II, VION Chief Development Officer. This closing will enable VION to expand acquisitions of performing and mixed (non-performing, delinquent, and charged off) accounts receivable portfolios, both domestically and abroad."

Jason Van Vacter, VION Vice President of Operations added, "A portfolio of this size with hundreds of thousands of accounts is an enormous undertaking for the broker and our internal operations staff. We are impressed and pleased with the outcome and the efforts of Garnet Capital Advisors. Internally, we worked tirelessly to deliver 12 months of complete and verifiable data for buyer review, and our work received unanimous positive feedback. Moving forward, VION staff will provide post-sale support services for the respective buyers."

Lou DiPalma, Garnet Managing Partner, said, "Garnet was pleased to assist the VION team in achieving their goal of streamlining their portfolio. Their preparation, professionalism, and focus is exceptional."

In 2013, VION will continue its strategy of joint-venture relationships for originating and purchasing new consumer loans, factoring, divestitures, wind downs, and bankruptcy liquidations.

About Garnet Capital Advisors

Garnet Capital Advisors is a boutique financial-services company specializing in managing loan portfolio sales for creditors and providing advisory services to the debt purchasing industry. Garnet sells more than $5 billion of charge-offs annually. Garnet is headquartered in New York, with U.S. offices in San Juan, Atlanta, and Boca Raton.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer andcommercial receivables. VION provides a single, comprehensive source of expertise inreceivable financing,debt purchasing,receivables process consulting, andvaluation / appraisal of receivable portfolios. VION offers solutions throughout thereceivable lifecycle includingoriginations,divestitures,liquidations,charge-offs, andturnarounds. Engagements range from several million to more than one billion dollars. For more information, please visit vioninv.com.

VION's Arizona Financial Office Moves to Scottsdale

As of July 1st VION's financial office in Arizona will be relocated to the Mesquite Corporate Center in Scottsdale. Our new location will provide added convenience for our visitors and additional space for continued growth. Please update your contacts and visit with us when you travel.

VION Receivable Investments
Mesquite Corporate Center
14646 N Kierland Blvd., Suite 122
Scottsdale, AZ 85254

480-729-6419    Main Phone
866-260-1826    Fax

VION Receivable Investments Releases $1.3 billion NPL Portfolio for Sale

Atlanta, GA – March 19, 2013. VION Receivable Investments (VION) is pleased to announce the availability for sale of $1,280,000,000 in charged off accounts receivable. The portfolio consists of $880M of late stage agency recall accounts and $390M in legal accounts. Details on the sale were released during the International Debt Buyers Association (DBA) Conference in Las Vegas. The portfolio consists of Credit Cards, Medical, and Consumer Loans with more than 400,000 accounts. The portfolio includes both legal and agency paying accounts.

"The timing of this portfolio sale is ideal for the VION," said Larry Curran, Chief Development Officer of VION. "With strong market demand, we see an opportunity for our stakeholders with little risk to our business. The portfolio represents less than 10% of our revenue. Although our initial announcement at DBA created a strong response from several qualified buyers, we are under little pressure to sell and are in a position to retain the portfolio if bidding does not meet our expectations."

VION has partnered with Garnet Capital Advisors for management of the sale. Potential buyers are encouraged to contact Scott Carragher at 914-630-8826 or scarragher@garnetcapital.com for information and details regarding the portfolio. VION is seeking a single buyer for the portfolio. However, the legal and agency recall files within the portfolio may be sold to separate buyers. Portfolio due diligence materials becomes available through Garnet March 19. The bid date is April 11, 2013 with a projected close date on April 19, 2013. www.garnetcapital.com

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer andcommercial receivables. VION provides a single, comprehensive source of expertise inreceivable financing,debt purchasing,receivables process consulting, andvaluation / appraisal of receivable portfolios. VION offers solutions throughout thereceivable lifecycle includingoriginations,divestitures,liquidations,charge-offs, andturnarounds. Engagements range from several million to more than one billion dollars. For more information, please visit vioninv.com.

VION Chief Development Officer Larry L. Curran II joins the Board of Advisors for Colorado State University's Institute for Entrepreneurship

Fort Collins, CO – March 7, 2013, 2013. VION Receivable Investments (VION) is pleased to announce that Chief Development Officer, Larry L. Curran II has joined the Board of Advisors for Colorado State University's Institute for Entrepreneurship. Located within the College of Business, the Institute for Entrepreneurship works to elevate all entrepreneurial activity across CSU's campus. They do this through both undergraduate and graduate entrepreneurship curriculum as well as through enriching events and programs. The Institute recently launched the New Economy Venture Accelerator (NEVA) that provides entrepreneurship training, advisement, mentoring, and workspace for student-run ventures.

"I'm pleased to be part of this exciting program," said Mr. Curran. "It reflects VION's commitment to supporting local communities and will enable me to bring our unique expertise in Accounts Receivables to an audience with little—if any—understanding of receivables management."

VION Receivable Investments is a leading buyer and seller of debt portfolios, and provides funding to businesses based upon receivable assets. VION assists businesses and financial institutions while leveraging accounts receivable through factoring, selling, borrowing, liquidating, or divestiture of their receivables. The company also provides lenders with third-party appraisals of receivable portfolios.

"We've enjoyed a very positive relationship with the University through hiring students as interns," said Mr. Curran. "These students are consistently well-prepared and motivated. My goal is to help provide guidance and mentorship to the NEVA program on the importance of credit and collection risk and accounts receivable performance—especially as it relates to startup businesses."

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer andcommercial receivables. VION provides a single, comprehensive source of expertise inreceivable financing,debt purchasing,receivables process consulting, and. VION offers solutions throughout thereceivable lifecycle includingoriginations,divestitures,liquidations,charge-offs, andturnarounds. Engagements range from several million to more than one billion dollars. For more information, please visit vioninv.com.

About the Institute for Entrepreneurship at CSU

The Institute for Entrepreneurship and the College of Business is working hard to make entrepreneurship education and training available to the entire entrepreneurial community at Colorado State University. Powered by renowned faculty and experienced staff, the Institute is ideally positioned to make significant impact in fostering venture creation and commercialization for all innovation emerging throughout the University. Through a strong cross campus collaborative initiative, the Institute for Entrepreneurship is working toward helping foster an entrepreneurial environment in every college. For more information please visit: http://biz.colostate.edu/IE/Pages/default.aspx

VION Receivable Investments Acquires $72 Million in Credit Card Receivables

Atlanta, GA – January 16, 2013. VION Receivable Investments (VION) is pleased to announce the acquisition of a commercial credit card portfolio consisting of approximately $6 million in performing and $67 million in charged-off debt. VION moved quickly to purchase the portfolio when the primary buyer proved unable to meet the purchasing criteria.

"This acquisition perfectly demonstrates VION strengths," saidLarry L. Curran II, Chief Development Officer of VION. "We are backed by more than $5 billion in financial resources, we have a lean and very experienced management team able to recognize opportunity and act decisively, and we have the expertise to acquire commercial or consumer assets anywhere in the receivable lifecycle from origination through charge-off. These combined strengths gave us the ability to respond with speed and flexibility, and delivered an excellent solution for the seller."

This portfolio purchase further solidifies VION's position as a leading buyer ofcredit card assets. In 2013 the Company will continue its movement into the medical, education, and manufacturing sectors, and will strengthen its international position through its subsidiaryVION Europa.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer andcommercial receivables. VION provides a single, comprehensive source of expertise inreceivable financing,debt purchasing,receivables process consulting, andvaluation / appraisal of receivable portfolios. VION offers solutions throughout thereceivable lifecycle includingoriginations,divestitures,liquidations,charge-offs, andturnarounds. Engagements range from several million to more than one billion dollars. For more information, please visit vioninv.com.

VION Hires Kathryn Schilling as Marketing Assistant

Fort Collins, CO – January 16, 2013. VION Receivable Investments (VION) is pleased to announce the hiring of Kathryn Schilling as a Marketing Assistant. Kathryn is a recent graduate of Colorado State University with a B.S. in Business Administration with a concentration in Marketing. Kathryn was hired through VION's paid-internship partner program with Colorado State and will be reporting toLarry L. Curran II, Chief Development Officer in the Fort Collins office.

Said Ms. Schilling, "I am excited for the opportunity to help VION continue its growth and success in Accounts Receivable Management, Debt Purchasing, Receivables Financing, and Appraisals. My immediate focus will be leveraging new media and tools such as search engine marketing, e-marketing, and analytics for VION expansion into new industries."

"VION is committed to supporting the communities in which we work and do business," said Mr. Curran. "As an alumnus of the Colorado State University System, I know first-hand the quality of its education and students. Our internship partner program with the University enables us to choose from a pool of exceptional young men and women fully prepared to meet the challenges of the business world."

Ms. Schilling will be reaching out to VION clients and business partners in the coming days to form a detailed understanding of customer needs and business opportunities. She will be available to meet visitors to the VION Booth (337) during the 16 Annual DBA International Conference in Las Vegas. VION encourages its friends and business partners to contact their local colleges and universities for more information regarding internship programs.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer andcommercial receivables. VION provides a single, comprehensive source of expertise inreceivable financing,debt purchasing,receivables process consulting, andvaluation / appraisal of receivable portfolios. VION offers solutions throughout thereceivable lifecycle includingoriginations,divestitures,liquidations,charge-offs, andturnarounds. Engagements range from several million to more than one billion dollars. For more information, please visit vioninv.com.

VION Announces Private/Public Partnership with Rhode Island Turnpike and Bridge Authority (RITBA)

Atlanta, GA – July 11, 2012. VION Receivable Investments (VION), through VION Municipal Capital, is pleased to announce completion of toll-road enhancements to the Newport Pell Bridge funded by the company. The project created open road toll lanes (ORT, also known as EZ-Pass) in each direction. The new ORT lanes are currently handling approximately 60% of total traffic and creating greater throughput and convenience for commuters.

VION Municipal Capital provided the necessary capital in such a way as to ensure no net loss to RITBA from the ORT project.

Stacey Schacter, CEO of VION Receivable Investments said, "Our expertise in receivables has direct application and benefit for municipalities in the areas of traffic and parking violations, fees, and court-ordered fines. We help municipalities leverage their receivable revenue streams—such as toll fees—to fund projects without selling public assets or bonding debt. This project perfectly demonstrates the value of our Public/Private Partnership solutions."

There is currently a mix of OTR lanes and gates at the Newport Pell Plaza. The stepped introduction of OTR lanes will enable the RITBA to master violation enforcement and out-of-state collection on a limited scale while greatly enhancing the speed in which vehicles can cross the bridge. Any new toll points in the future are expected to be all-electronic.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation. For more information, please visit vioninv.com or contact Barbara Anderson at (703) 736-8336 or email to banderson@vioninv.com.

VION Announces Purchase of €850M (US $1.1B) in Spanish Receivables

Atlanta, GA – February 6, 2012. VION Receivable Investments (VION), through VION Europa, is pleased to announce its acquisition of receivables on the Iberian Peninsula. VION Europa has acquired approximately €850M (US $1.1B) in consumer and commercial receivables from a multi-region Spanish bank.  Responding to the bank’s need to raise capital, VION was able to structure a transaction that met the interests of both parties.>

“VION is a value-based, opportunistic investor,” said Stacey Schacter, CEO of VION. “This acquisition demonstrates our commitment to expanding our business model into Spain and the European Union.”

Patrick Napoli, Principal of VION Europa, added, “The financial stress on the Iberian Peninsula has resulted in consolidations and need for increased liquidity by banks and Cajas throughout the region.  With the successful deal structure established with this bank, we are confident that we can replicate the model with other banks throughout the region.  Our goal is to establish VION Europa as a high-quality option in helping institutions meet critical liquidity requirements.”

For more information about VION Europa, please contact Patrick Napoli at +34 91 418 69 00 (office), 302-743-1229 (cell), or by email at pnapoli@vioninv.com.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation. For more information, please visit vioninv.com.

VION Opens Madrid Office

VION Receivable Investments (VION) is pleased to announce the opening of its Madrid office, VION Europa. VION will pursue acquisitions of performing and non-performing accounts receivable throughout the European Union. Mr. Patrick Napoli—formerly the Chief Operating Officer of MBNA Spain—has been appointed responsible for all operations.

"We are positioned to address enormous opportunity across Europe in numerous areas," said Mr. Napoli. "Our expertise in consumer and commercial receivables, backed by our exceptional financial resources enable us to consider portfolio purchases of any size and any industry. I am extremely pleased to join the VION team and lead the growth of our European business."

Stacey Schacter, VION’s CEO added, “we have been studying Europe for quite some time and believe the opportunities there fit perfectly with VION’s capabilities and strategic goals.  Bringing someone of Mr. Napoli’s caliber to the VION team highlights our commitment to participating in the EU financial markets.”

VION Europa’s new offices are located at:
VION Europa
Paseo de la Castellana 95-15
(Torre Europa)
Madrid 28046
Spain
Main tel: +34 91 418 69 00
Main fax: +34 91 418 69 99

For more information about VION Europa, please contact Patrick Napoli at +34 91 418 69 00 (office), 302-743-1229 (cell), or by email at pnapoli@vioninv.com

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation. For more information, please visit vioninv.com.

VION Purchases Land-Secured Loan Portfolio

Atlanta, GA – July 26, 2011. VION Receivable Investments (VION) announces the acquisition of a land division portfolio of a Fortune 500 finance company. The sale of the portfolio enables the seller to divest non-core interests for immediate liquidity, and establishes a market position for VION in real estate backed investments.

"This land-based transaction for VION is a perfect fit for our unique business model," stated Stacey Schacter, CEO of VION. "Our model requires diversification across many industries to allow us to take advantage of a value based approach to investing. As markets constantly change we must stay nimble to change with them and exploit what are often one-off opportunities."

Larry Curran, VION Chief Development Officer added, "This acquisition meets every criterion for a VION investment: a portfolio of performing receivables secured by exceptional assets and managed by exceptional people. We are delighted to partner with land finance veterans at BTC Capital Partners, LLC on this transaction."

Randy Stratton, Managing Member of BTC Capital Partners commented, "We are excited to work with our partners VION on this portfolio acquisition, and apply our expertise in this unique asset sector. This is BTC Capital's fourth and largest transaction since its founding in June 2010."

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation. For more information, please visit vioninv.com.

VION Announces Expansion into Merchant Cash Advance Business

Atlanta, GA – April 18, 2011. VION Receivable Investments (VION) has formed an exclusive arrangement with Strategic Funding Sources, Inc. (SFS) to provide merchant cash advances to middle-market merchants throughout the Untied States. Merchant cash advances are utilized by small businesses and entrepreneurs to fill short-term working capital needs when traditional bank loans and SBA financing are either not available or not practical (from a timing perspective). Under a new program to be managed jointly by VION and SFS on the proprietary SFS platform, merchant cash advances will be offered to middle-market businesses in need of $400,000 up to $3,000,000 or more in short-termworking capital financing.

“This agreement combines the resources and receivables management expertise of VION with the industry leadership position in merchant cash advances of SFS,” said Barbara Anderson, Executive Managing Director of VION. “Our capital position and unique skill set enables us offer creative short-term working capital solutions for merchants in unusual circumstances. While banks and commercial finance companies are still hesitant to provide loans to middle market companies for growth, renovation, or acquisition, VION and SFS are willing to provide an alternative funding solution and do it quickly and efficiently.”

David Sederholt, Executive Vice President & COO of SFS said, “Our new partnership with VION enables us to serve this emerging and rapidly growing market segment. Traditionally, our clients have been the smaller single- or double-unit, family owned retail business seeking capital to improve their businesses. The VION relationship now allows us to address the needs of larger multi-unit independent and franchise businesses seeking larger amounts to help fund development and higher-level financial initiatives—a transformational shift for our business and the industry. This alliance leverages the expertise of both companies and provides for speed, flexibility, and creativity in offering alternative financial products to a market in need of working capital.”

The first transaction under the new program closed on February 28, 2011. VION and SFS provided working capital for the “Las Vegas Mob Experience (LVME),” the newest interactive entertainment exhibit on the Las Vegas strip. Located in the Tropicana Hotel, the exhibit tells the story of the Mafia from the early days up to the present time using the most technologically advanced interactive presentation of historical artifacts ever devised. LVME is projected to attract more than 1.5 million visitors annually to its 26,000 square foot facility.

About Strategic Funding Sources

Strategic Funding (www.sfscapital.com) is a leading provider of specialty financing to emerging entrepreneurial businesses throughout the United States. Strategic is the most trusted name in merchant cash advance products that permit small businesses to sell a portion of their future receivables in a factoring transaction giving clients access to working capital. Having positioned itself as a leader in this market estimated at over $1 billion by building the most comprehensive enterprise software platform, it has set itself apart from competitive companies. This database technology was the genesis of the “Strategic Partner” program that promotes syndication among numerous cash advance companies and private investors seeking to participate in merchant cash advance products. Established in 2006, Strategic has its headquarters in New York City and maintains regional offices in Williamsburg, VA; Baltimore, MD; Chicago, IL and Seattle, WA — serving over 2,500 active clients in all 50 states. The company serves the needs of small- to mid-sized businesses that have little or no access to traditional bank financing or SBA loans.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation. For more information, please visit vioninv.com or contact Barbara Anderson, Executive Managing Director at 703-736-8336, banderson@vioninv.com, www.vioninv.com.

Press Contact:
Stacey Schacter, CEO
877-845-5292

VION Receivable Investments Hires Neil Brodsky as General Counsel

Atlanta, GA – March 31, 2011. VION Receivable Investments (VION) is pleased to announce the hiring of Neil Brodsky as General Counsel. Mr. Brodsky joins VION effective April 11 bringing 13 years' experience in corporate legal expertise. As General Counsel, Neil will provide strategic legal direction and counsel with respect to the acquisition and collection of portfolios of accounts receivable. In addition, he will be responsible for VION's licensing and legal compliance, as well as the management of debtor disputes and litigation.

"With VION's strong growth in acquisitions of receivable portfolios and our recent expansion into new markets, our need for legal expertise became a priority," said Stacey Schacter, VION CEO. "I've had the pleasure of knowing and working with Neil for many years and I am excited to bring him back to the industry. His expertise and experience as a seasoned professional enables us to continue our pace without interruption."

Said Mr. Brodsky, "I am happy for the opportunity to reunite with Stacey Schacter and become part of an exceptional team. VION is driving into new markets with unique vision, capabilities, and resources. I look forward to contributing to the continued growth and success of the company."

Prior to joining VION, Mr. Brodsky held the position of Senior Corporate Counsel with Granite Telecommunications, a national provider of business telecommunications solutions, and Vice President and General Counsel with EMCC/Equiant, a global provider of receivable management solutions. Mr. Brodsky holds a B.S. degree in Marketing from Miami University, Oxford Ohio and a Juris Doctor from Boston University School of Law.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation. For more information, please visit www.vioninv.com.

Press Contact:
Stacey Schacter, CEO
877-845-5292

VION Receivable Investments Announces Multi-Million Dollar Line of Credit for Sparta Commercial Services, Inc.

Atlanta, GA – October 13, 2010. VION Receivable Investments (VION) is pleased to announce its agreement to provide a multi-million dollar financing facility for the consumer lease program of Sparta Commercial Services, Inc. (OTC BB: SRCO). The Sparta program will offer motorcycle lease financing for non-prime consumers in more than 2,000 dealerships throughout the country.

"A large segment of the vehicle industry is underserved because of tightened and more restrictive lender credit criteria," said Stacey Schacter, CEO of VION. "Dealerships are looking to provide financing options for consumers who would have been easily approved by most lenders just two years ago. Our agreement with Sparta positions us to fill that void and significantly strengthens our position in the vehicle financing market."

Anthony Havens, Sparta’s CEO, said, “It isn’t a case of more consumers with poor credit as much as it is the ever-higher minimum credit scores that other lenders are requiring. I believe that in the current economic climate, finding a financial partner such as VION who shares our analysis and vision of the unmet needs in the marketplace and has the willingness to supply the funding to back up that vision is crucial to the continued growth and success of our business.”

The new program will be rolled out gradually in order to accommodate expected strong demand. The rollout will initially focus on specific states where the demand is likely to be the heaviest, and then expanded to include additional states as the program builds momentum to include Sparta's 2,000 registered dealers.

About VION Receivable Investments

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable purchasing, consulting, and valuation. For more information, please visit vioninv.com.

Press Contact:
Stacey Schacter, CEO
877-845-5292

VION Receivable Investments, Announces Acquisition of Interest in $1.5B Pool of Performing Receivables

Atlanta, GA – September 21, 2010 – VION Receivable Investments, through an affiliated unit, VION Holdings II LLC, today announced that it has acquired an interest in a $1.5B pool of performing accounts receivable in the company’s largest transaction to date. GA Capital, LLC, a subsidiary of Great American Group, Inc. (OTCBB: GAMR), will serve as the administrative agent on a $65 million senior secured term loan to VION Holdings II LLC.

Stacey Schacter, Chief Executive Officer of VION stated, “This acquisition is a watershed moment for VION as we expand our reach into the performing receivable and related asset market. Working in conjunction with our lender and numerous other parties was critical in enabling VION to complete this rather complex transaction.”

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable purchasing, consulting, and valuation. For more information, please visit vioninv.com.

VION Receivable Investments Hires Anthony Azizeh as Senior Financial Analyst

Atlanta, GA, April 27, 2010 — We are pleased to announce the hiring of Anthony Azizeh as Senior Financial Analyst of VION's Accounts Receivable Appraisal Division. Based in VION's Phoenix office, Mr. Azizeh will work closely on the modeling of performing commercial and consumer receivables for purchase and unique investments.

Mr. Azizeh comes to VION from EMCC where he was the Senior Financial Analyst of Appraisal Services for four years. Prior to that he worked for six years as a Senior Financial Analyst at CIT. We look forward to enhancing and strengthening our appraisal services with the addition of Tony.

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable purchasing, consulting, and valuation. For more information, please visit vioninv.com.

VION Receivable Investments Hires Jason Van Vacter as Director of Analytics and Infrastructure

Atlanta, GA, April 27, 2010 — VION Receivable Investments is pleased to announce the hiring of Jason Van Vacter as Director of Analytics and Infrastructure, based out of the Atlanta office. Mr. Van Vacter will focus primarily on creating operational efficiencies, performance reporting, and turn-key analytic solutions to support all aspects of VION's business.

Prior to joining VION, Jason most recently worked at West Asset Management, where he was a key contributor in analytics and forecasting within the Purchasing Division. Prior to West, Jason worked for three years within the Recovery Divisions of Compass Bank and GE Money respectively. He has a strong background in collections, and has had hands-on experience with Legal, Agency, and Asset Sale strategies and processes. Jason also brings a superior blend of programming skills, logical thinking, and positive attitude that will make him an invaluable asset to the company as we grow.

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable purchasing, consulting, and valuation. For more information, please visit vioninv.com.

VION Receivable Investments Hires Cheryl Karcher as Vice President of Analytics

Atlanta, GA, April 26, 2010 — VION Receivable Investments is pleased to announce the hiring of Cheryl Karcher as Vice President of Analytics. Working out of VION's Atlanta office and reporting directly to the COO, Ms. Karcher will focus on statistical modeling of potential investment opportunities and performance analysis of existing VION receivable portfolios. She will also play a key role in the development of best-in-class operational processes for managing the VION portfolio suite.

Prior to joining VION, Ms. Karcher was Vice President of Portfolio Analysis with West Asset Management. Prior to West, Cheryl worked with GE Money (formerly known as GE Capital) in Database Marketing, Credit Bureau Relations, and Recovery Strategy. She began her career in 1996 with Equifax building statistical scoring models and business solutions for Retail and Finance clients.

Ms. Karcher holds a Masters in Statistics from The University of South Carolina and Bachelors in Statistics from University of South Alabama.

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable purchasing, consulting, and valuation. For more information, please visit vioninv.com.

VION Receivable Investments Hires David Reak as COO

Atlanta, GA, April 8, 2010 — VION Receivable Investments is pleased to announce the hiring of David Reak as Chief Operating Officer. Mr. Reak joined VION in January 2010 bringing 20 years' experience in the Accounts Receivable Industry. As COO, David is responsible for implementation/integration and portfolio management of the VION performing and non-performing receivables.

Prior to joining VION, David held executive positions with West Asset Management, the Metris Companies, Friedman's Jewelers, Intrepid Capital Partners, PeopleSupport, and twelve years at American Express with responsibilities in collections, recovery, finance, and global risk management.

"We are excited to have David as part of our leadership team," said VION President Stacey Schacter." His expertise with more than $5 billion in purchases and sales will strengthen our acquisitions of consumer and commercial portfolios, and his experience in managing corporate expansion will bring stability to VION's fast growing business."

David holds a B.S. degree in Business Administration from State University of New York College at Brockport and is a Certified Public Accountant.

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable purchasing, consulting, and valuation. For more information, please visit vioninv.com.

Hudson & Keyse, LLC Completes Debt Restructuring with VION Receivable Investments

Painesville, Ohio, March 25, 2010 – Hudson & Keyse, LLC (H&K), a proprietary firm specializing in debt buying, collecting and selling consumer distressed assets, announced today the completion of a two year initiative to restructure and realign the business. The outcome is the restructuring of its debt obligations from its current bank group to VION Receivable Investments (“VION”).

“This strategy to restructure and realign our business started for us in January of 2008,” stated D. Scott Clarke, President and CEO of Hudson and Keyse. “I am pleased with the outcome and I am grateful for all the employees of the firm, both past and present. We will be evolving from a company that owns debt, to one that services debt on behalf of VION and others. We will continue to leverage our outstanding asset management and collection capabilities here in Painesville, as well as our national, integrated, proprietary legal network.”

“We are pleased that we were able to work with all interested parties, the bank group, the company and equity in coming to a transaction that works for all involved. We were impressed by the professionalism of management and their capabilities” said Stacey Schacter, President of VION.

Hudson & Keyse, LLC, is a debt buyer, collector and seller with specific expertise in portfolo acquisition and liquidation. H&K is headquartered near Cleveland at 382 Blackbrook Rd., in Painesville, Ohio 44077. For more information, please visit hudsonandkeyse.com or contact Mark Finston, Chief Financial Officer at 440 354-6971 x111 or Jeff Berenholz, General Counsel and Attorney at 440 354-6971 x141.

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable purchasing, consulting, and valuation. For more information, please visit vioninv.com.

VION Receivable Investments Partners with Global Debt Registry

Atlanta, GA, October 7, 2009 — VION Receivable Investments is pleased to announce the first-ever offering of national and state level sales of "registered" debt in partnership with Global Debt Registry (“GDR”).

GDR is a debt validation, account level chain of title, and media management system that simplifies the way in which title /ownership is originated, sold, and tracked for charged off consumer loans. The registry establishes and maintains accurate ownership and validated data for the life of the charged off receivable account. Registered portfolio owners work directly with GDR for media requests—typically answered within 72 hours for both Chain of Title Reports and Statements (as opposed to tracking a daisy chain of buyers that can create weeks or months of delay). The registry also provides a complete audit trail back to the original issuer.

VION closed on a charge-off portfolio on a flow and engaged GDR to “Register” the portfolio. As a result, a consumer or judge can see the chain of title dating back to the issuer.

"There is mounting pressure from the government and courts to prove clear chain of title in debt ownership," said Stacey Schacter, President of VION Receivable Investments. "Partnering with Global Debt Registry enables VION to take the industry lead in offering fully compliant, highly marketable receivable portfolios supported by cutting-edge tracking and reporting technologies. For the first time in the industry, we are adding real value to both our own accounts and our state and regional partners by registering the debt. Response from our buyers has been overwhelmingly positive. You wouldn’t buy a house without having title insurance. Why should you buy debt without the same insurance?”

"Our agreement with VION positions us at the forefront in debt registration," said Greg Ousley, CEO of Global Debt Registry. "The VION team is well-established in the industry and has the reputation, influence, and resources to create higher standards. Our combined experience and vision is leading the debt buying industry in a new direction."

VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable purchasing, consulting, and valuation. For more information, please visit vioninv.com.

Global Debt Registry, located in Columbia, Missouri, is a cutting-edge debt validation and turn-key media management system. The primary purpose of the registry is to maintain and establish accurate ownership of delinquent receivable accounts which allows for delivery of requested media directly to downstream buyers in the secondary charged-off debt market. For more information, please visit globaldebtregistry.com or contact Greg Ousley, CEO Global Debt Registry at 866-660-2341.

VION to Attend and Sponsor NPL Europe 2016 in London

NPL-2016

Atlanta, GA — August 10, 2016. VION Investments (VION) is pleased to announce that Stacey Schacter, CEO of VION will be speaking at the fourth edition of NPL Europe hosted by SmithNovak, September 29 - 30 in London. VION is an associate sponsor of the event.

For more information, please contact VION Business Development at 877-845-5242. To schedule a meeting during the event, click here. For more information about NPL Europe 2016, please click here.

VION Receivable Investments Partners with Global Debt Registry

Atlanta, GA, October 7, 2009 — VION Receivable Investments is pleased to announce the first-ever offering of national and state level sales of "registered" debt in partnership with Global Debt Registry (“GDR”).

GRIDLOCK OR OPPORTUNITY
Where the distressed debt market is going and what you need to know to handle it.

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For over the 5 years of this conference the talk has been about the €1 trillion and rising of European NPL’s and the opportunity for the restructuring profession, but painfully little progress has been made, particularly in the corporate distressed loan sector. Portfolio offerings have been short on the depth of information buyers need to commit their money and in many cases the banks’ ability to sell at realistic rates is hampered by inadequate provisions. Such is the gap between provision and reality that one really has to wonder that in some cases it may not be just the bank that is under water but the sovereign too. How does the Eurozone banking system resolve this conundrum without tipping the whole edifice over? Visit event page.