Judge Boots US Objections To PMI's Ch. 11 Plan

Law360, Wilmington (July 19, 2013, 7:53 PM ET) -- A Delaware bankruptcy judge on Friday overruled the federal government's objections to mortgage insurance holding company PMI Group Inc.'s Chapter 11 plan, but its final confirmation remains in limbo with the judge wanting some loose ends tied up before making a ruling.

U.S. Bankruptcy Judge Brendan L. Shannon said from the bench that the U.S. Attorney's Office did not convince him that the plan's primary purpose was to avoid paying taxes, nor was he won over by the U.S. trustee's contention that the company would simply...
To view the full article, register now.