Investors Win In Battle For Mortgages Ltd. Ch. 11 Plan

Law360, New York (May 21, 2009, 12:00 AM EDT) -- The bankruptcy judge overseeing Mortgages Ltd.'s turbulent Chapter 11 proceedings has approved a reorganization plan submitted by a separate committee of investors, one of three groups fighting over the fate of the company.

Judge Randolph J. Haines of the U.S. Bankruptcy Court for the District of Arizona backed the investors committee's plan Wednesday, bringing an end to a complicated battle between the investors, unsecured creditors and the company.

In the end, according to Cathy Reese, an attorney with Fennemore Craig PC representing the investors committee, there...
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