Taylor Bean Wins OK For Liquidation Plan Disclosures

Law360, New York (November 11, 2010, 6:26 PM EST) -- A judge has signed off on a disclosure statement for bankrupt mortgage lender Taylor Bean & Whitaker Mortgage Corp.’s plan for winding itself down and repaying creditors through the establishment of a liquidation trust.

Judge Jerry A. Funk filed a ruling in the U.S. Bankruptcy Court for the Middle District of Florida on Wednesday approving the disclosures for the former lender’s plan to exit Chapter 11.

Distributions to many groups of creditors are still uncertain under the plan, according to the disclosure statement, which notes that...
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