Delta Financial Wins Extension To Finalize Plan

Law360, New York (August 20, 2008, 12:00 AM EDT) -- A federal judge has extended the exclusivity period for bankrupt lender Delta Financial Corp., which said last month that it is close to reaching an agreement with its creditors.

Judge Christopher S. Sontchi, of the U.S. Bankruptcy Court for the District of Delaware, said in an order filed Monday that Delta will have until Sept. 15 to file a plan, and until Nov. 17 to solicit acceptances. The previous extension went through July 25.

In its motion for the extension, filed July 25, Delta said it...
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