Judge OKs Aegis Disclosure Statement, Asset Sale

Law360, New York (August 20, 2010, 3:10 PM EDT) -- A bankruptcy court judge has signed off on subprime lender Aegis Mortgage Corp.'s disclosure statement and approved a sale of one of its units that will see AMC pay more than $2.2 million to get rid of a raft of liabilities.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware approved the disclosure statement, which outlines the company's liquidation plan, Wednesday.

Under the plan, holders of about $182.5 million in unsecured claims and about $55 million in breach claims will receive...
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