Marblegate Asset Management – an investment management firm that focuses on distressed and special situation investing – announced the completion of their merger with DePalma Acquisition. The new company, Marblegate Capital Corporation (MCC), began trading in April. MCC has a loan portfolio collateralized by more than 1,700 medallions and owns over 2,000 medallions. Marblegate played a pivotal role in the successful launch and implementation of NYC’s MRP+ medallion debt relief program, which has provided what the company calls “financial relief to drivers previously subject to predatory lending practices.”
Source: Yahoo! Finance
