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People's Choice Gets OK For UBS Loan Platform Sale

Law360 (July 11, 2007, 12:00 AM EDT) -- Bankrupt subprime lender People’s Choice Home Loan Inc. has received bankruptcy court approval to sell its single family residential mortgage loan platforms to UBS AG for $2.5 million, allowing the liquidating lender to continue its plan to divest its assets.

Judge Robert N. Kwan of the U.S. Bankruptcy Court for the Central District of California issued his order approving the sale of People’s Choice’s mortgage loan origination and servicing platforms to UBS on Monday, stipulating that the defunct lender must resolve objections from three parties before...
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