Judge Denies USA Capital Trustee Bid For Ch. 7

Law360, New York (November 2, 2006, 12:00 AM EST) -- As short-term mortgage lender USA Commercial Mortgage Co. gears up for an auction, a Nevada judge has approved bidding procedures and set an auction date, but tossed a U.S. Trustee's attempt to convert the Chapter 11 case to a Chapter 7 liquidation.

In court documents filed on Wednesday, Judge Linda Riegle of the U.S. Bankruptcy Court for the District of Nevada, who is overseeing the proceedings, denied the motion in a sparsely worded decision.

U.S. Trustee Sara Kistler had made the bid in court documents on...
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