The slow collapse of John Ruiz’s insurance claims company appears to be nearing its end.
MSP Recovery, helmed by the brash attorney and University of Miami athletics booster, admitted that it has “substantial doubt” about its ability to continue to operate beyond the next year, according to its 2024 annual report filed this week with the Securities and Exchange Commission.
The Coral Gables company faced the possibility of defaulting on its loans after its independent auditor, Deloitte and Touche, raised concerns about its ongoing viability. To avoid shutting its doors, the publicly traded company has embarked on a restructuring plan with its creditors…