PFF Bancorp Creditors Cleared To Vote On Ch. 11 Plan

Law360, Wilmington (March 08, 2012, 6:05 PM ET) -- A Delaware bankruptcy judge gave creditors the go-ahead Thursday to vote on PFF Bancorp Inc.'s liquidation plan, overruling an unsecured creditor that complained disclosures on the plan were inadequate.

U.S. Bankruptcy Judge Kevin J. Carey signed off on PFF's disclosure statement at a court hearing, more than three years after federal regulators seized the holding company's savings bank in the wake of the 2008 financial crisis.

The plan will distribute around $18 million to PFF's creditors, including Pension Benefit Guaranty Corp., which holds $35 million in...
To view the full article, register now.