Lenders Decry TitleMax Bid For Prolonged Ch.11

Law360, New York (August 7, 2009, 5:47 PM EDT) -- Under the gun to produce a reorganization plan, TitleMax Holdings Inc. may have a hard time securing a requested four-month extension now that secured lenders contend the title-lending company is merely trying to avoid paying interest on a matured $164 million credit facility.

Merrill Lynch Mortgage Capital Inc. spoke out Thursday against TitleMax’s bid for more time to file a plan, contending the debtor is seeking to prolong its stay in bankruptcy as a way to pressure the lenders to accept unsatisfactory refinancing terms on the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.