Subprime Lender Shuffles Cure Schedule Before Sale

Law360, New York (April 18, 2007, 12:00 AM EDT) -- Following a slew of objections from warehouse lenders, People’s Choice Home Loan Inc. on Tuesday removed several contracts from a cure schedule that was distributed prior to the sale of the bankrupt subprime lender’s remaining assets.

On Monday, several companies that had made prepetition agreements with People’s Choice, including UBS Securities Inc. and Bear Stearns Co Inc., objected to the company’s recent announcement in the U.S. Bankruptcy Court for the Central District of California that it was selling off the rest of its assets, including any...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.