Default servicing law firm McCalla Raymer agreed to acquire some of the non-legal functions and assets of Prommis Holdings as it heads into Chapter 11 bankruptcy.
Prior to Prommis announcing plans to file for bankruptcy protection in Delaware, the firm provided support default services in Georgia for McCalla Raymer.
The deal means some Prommis employees in Atlanta will be able to keep their jobs and transition under the umbrella of McCalla Raymer.
"Our immediate concern upon learning of Prommis' decision to file for bankruptcy protection was to safeguard our clients from any disruption in service," said Marty Stone, managing partner for McCalla Raymer.
Stone went on to say, "we are confident that the understanding reached today with Prommis will assure a seamless transition of support functions from Prommis to McCalla Raymer for our clients."