Judge Grants Aegis More Time To Submit Ch. 11 Plan

Law360, New York (July 10, 2008, 12:00 AM EDT) -- Bankrupt Aegis Mortgage Corp. has won its bid for extra time to negotiate with creditors and file an exclusive Chapter 11 exit plan.

Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware issued his order Tuesday, giving the lender until Aug. 7 to submit the plan. The extension is the residential lender's third.

Aegis, which filed for Chapter 11 last August amid the mortgage meltdown, originally sought a 90-day extension, but agreed to accept a 60-day compromise after negotiations with the official...
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