Tax Assets Spark Unusual Plan Fight In Fremont Ch. 11

By Christie Smythe

Law360, New York (March 10, 2010, 7:40 PM ET) -- Four groups of stakeholders are vying for the chance to reorganize bankrupt lender Fremont General Corp., setting the stage for a contentious confirmation showdown later this week. The prize that has attracted so much interest: tricky-to-recover tax benefits worth as much as $200 million.

The Fremont bankruptcy features a nearly unprecedented number of competing reorganization proposals, thanks to the promise that the subprime mortgage company's past net operating losses can be used to offset future tax liability, according to attorneys and other parties involved in the...
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