USA Commercial Mortgage Files Second Ch. 11 Plan

Law360, New York (November 7, 2006, 12:00 AM EST) -- On Monday, USA Commercial Mortgage Co. filed its second amended reorganization plan, and the federal judge overseeing the bankrupt lender’s Chapter 11 case granted the debtors a 180-day extension to solicit creditor support for the plan.

But the order U.S. Bankruptcy Judge Linda B. Riegle signed extending the debtors’ exclusive rights to seek creditors’ support for the restructuring plan through December 31 comes with a caveat: the extension is contingent on the debtors winning approval for their disclosure statement by November 30. Any party in interest...
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