US, Texas Object To Aegis Mortgage Ch. 11 Plan

Law360, New York (September 29, 2010, 5:17 PM EDT) -- The U.S. government and the Texas counties of Dallas and Harris have objected to Aegis Mortgage Corp.'s restructuring plan, saying it does not provide for interest on back taxes.

The current plan doesn't give full value for taxes owed to the state and federal governments since 2007 and improperly restricts the ability of Texas and the U.S. Internal Revenue Service to collect taxes, the IRS and Texas tax authorities said in separate objections filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware....
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