Quality Home Loans Disclosure Statement Gets OK

Law360, New York (August 5, 2009, 1:07 PM EDT) -- A bankruptcy judge has approved Quality Home Loans' disclosure statement, setting the stage for a hearing on the subprime mortgage lender's Chapter 11 restructuring plan.

Judge Geraldine Mund of the U.S. Bankruptcy Court for the Central District of California approved the amended disclosure statement Tuesday, saying that the document contained adequate information. The judge also set an Aug. 14 deadline for filing objections to the restructuring plan.

A confirmation hearing on the restructuring plan is set for Aug. 25.

The Quality Home Loans restructuring plan centers...
To view the full article, register now.