Aegis Wants Units' Ch. 11 Cases Dropped

Law360, New York (October 5, 2007, 12:00 AM EDT) -- Aegis Mortgage Corp. has asked the court overseeing its bankruptcy proceedings to dismiss two of its subsidiary debtors from Chapter 11, following the Sept. 28 closing of the sale of Aegis' loan platform assets to Ranieri & Co. Inc.

On Thursday, the debtors filed a motion urging U.S. Bankruptcy Judge Brendan L. Shannon to dismiss the Chapter 11 cases of Aegis subsidiaries Aegis Loan Servicing LP and AMC Insurance Agency of Texas Inc.

The two subsidiaries are holding companies, one for mortgages and one for licenses,...
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