Creditors Win Bid To File Rival Plan For Meruelo

Law360, New York (August 3, 2010, 3:28 PM EDT) -- Secured creditors Legendary Investors Group No. 1 LLC and East West Bank have obtained court approval to file a competing Chapter 11 plan for Meruelo Maddux Properties Inc.

Judge Kathleen Thompson of the U.S. Bankruptcy Court for the Central District of California signed off on the bid by Legendary and East West Bank to file their own reorganization plan at a hearing Monday, according to Jeffrey W. Dulberg of Pachulski Stang Ziehl & Jones LLP, who represents Legendary.

The Legendary/East West Bank plan will be the...
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