Beware of Platform Risk - How PeerStreet, a Real Estate Crowdfunding Firm, Went Bankrupt
Money For the Rest of Us
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How to Mitigate Platform Risk
Pierce Street says that investors on the platform, the question is it's in their FAQ, when will I get my money back? And they say that the funds will only be returned by agreement of the bankruptcy court. Secured creditors are those that have a lean on a specific property. But a general unsecured creditor ranks lower. They're last in line to receive payment behind secured creditors and others that have priority claims such as the IRS.
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