Subprime Lender Shuffles Cure Schedule Before Sale

Law360, New York (April 18, 2007, 12:00 AM EDT) -- Following a slew of objections from warehouse lenders, People’s Choice Home Loan Inc. on Tuesday removed several contracts from a cure schedule that was distributed prior to the sale of the bankrupt subprime lender’s remaining assets.

On Monday, several companies that had made prepetition agreements with People’s Choice, including UBS Securities Inc. and Bear Stearns Co Inc., objected to the company’s recent announcement in the U.S. Bankruptcy Court for the Central District of California that it was selling off the rest of its assets, including any...
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