Hudson & Keyse Completes Debt Restructuring with VION Receivable Investments

Painesville, Ohio – 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 or contact Larry Curran II, Executive Vice President at 970-212-4645, lcurran@vioninv.com.