Executives of insurance company Conseco Inc. recently admitted they might not be able to sell the company’s finance subsidiary formerly known as Green Tree Financial Corp. at an acceptable price, according to the Indianapolis Star.
The statements were delivered during Conseco’s annual shareholders meeting, which occurred recently.
The former Green Tree, now known as Conseco Finance Servicing Corp., is a major national program lender to the RV industry.
David Harkins, Conseco’s interim CEO, said selling the former Green Tree before the end of this year is his top priority. If a sale agreement cannot be reached, Harkins said Conseco would look to sell the loans written by Conseco Finance Servicing and reduce the operating expenses at the lender, according to the newspaper.
“While we are encouraged by the level of interest in (the former Green Tree), we cannot predict the outcome with any potential buyer,” Harking told Conseco shareholders, who gathered recently in suburban Indianapolis.