Signature, New World Triumph In Fremont Ch. 11 Battle

Law360, New York (April 29, 2010, 7:29 PM EDT) -- Investors Signature Group Holdings LLC and New World Acquisition LLC have won confirmation for a jointly backed proposal to reorganize failed subprime lender Fremont General Corp., possibly bringing an end to a contentious Chapter 11 plan battle that at one time involved as many as five groups of stakeholders.

Judge Erithe A. Smith confirmed the plan Thursday in the U.S. Bankruptcy Court for the Central District of California, according to an attorney for Signature Group. As soon as it is followed up by a written order,...
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