Law360, New York (April 21, 2009) -- The trustee overseeing the Chapter 7 liquidation of failed mortgage lender Alliance Bancorp has reached a deal with GMAC Mortgage Inc. to terminate a loan servicing agreement, a move that will see nearly $1 million put into Alliance's liquidation fund if approved by the court.
In a motion filed Friday in the U.S. Bankruptcy Court for the District of Delaware, Tracy L. Klestadt, Alliance's permanent trustee, said the money coming into Alliance would be from...
