Creditors Win Bid To End Fremont Plan Exclusivity

Law360, New York (July 15, 2009, 12:00 AM EDT) -- Creditors in the Fremont General Corp. Chapter 11 case have won a bid to terminate the bankrupt subprime lender’s exclusive period to file a reorganization plan on the grounds that the company

repeatedly failed to negotiate with creditors in its recently filed plan.

A judge granted the motion by the official committee of unsecured creditors at a hearing on Tuesday in the U.S. Bankruptcy Court for the Central District of California, according to a report Fremont filed with the U.S. Securities and Exchange Commission Wednesday....
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