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Office of the Commissioner of Financial Regulation

 

The Failure of Mann Bracken, LLP, and Axiant, LLC - Advisory Notice 1-10

 

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ADVISORY NOTICE 1-10
THE MARYLAND COLLECTION AGENCY LICENSING BOARD ADVISORY

The Failure of Mann Bracken, LLP, and Axiant, LLC
January 19, 2010

To all Maryland Licensed Debt Collection Agencies:

As you may be aware through news coverage or otherwise, Mann Bracken, LLP ("Mann Bracken"), a Delaware limited liability partnership, is ceasing business operations. Mann Bracken, LLP, is the surviving entity of the merger of Mann Bracken, LLC (f/k/a Mann, Bracken, Layng & Knezo, LLC), Wolpoff & Abramson, LLP, and Eskanos & Adler, PC. It appears that Mann Bracken has already shut down substantially all of its business operations as its listed telephone numbers have been disconnected. Axiant, LLC ("Axiant"), the support services company of Mann Bracken, is currently in Chapter 7 bankruptcy liquidation in the District of Delaware.

As a result of these events, Maryland consumers whose debts were serviced by this firm have been left with no communication or source of information. The Office of the Commissioner of Financial Regulation has received numerous complaints from consumers voicing concerns ranging from who to contact on their specific accounts to remitted checks not being cashed.

This advisory is intended to make clear that any Maryland licensed debt collection agency who has engaged the services of Mann Bracken, Axiant or any related entity is expected to contact consumers and inform them of what to do regarding their specific accounts. Simply responding to inbound inquiries is not sufficient, particularly given the scope of Mann Bracken's activities. Your cooperation is appreciated.