Real Estate Finance Co. Merchants Seeks Ch. 11

Law360, New York (December 23, 2011, 5:40 PM EST) -- Real estate finance company Merchants Mortgage & Trust Corp. LLC, struggling with its debt after the deterioration of the real estate sector, filed for Chapter 11 protection Thursday in Colorado to restructure its business and continue working with a private equity partner.

Colorado-based Merchants said in bankruptcy filings that its prepackaged reorganization plan would allow it to reconfigure its debt and raise capital to support the origination of new loans for BD Funding LLC, which is 60 percent owned by private equity investors and 40 percent...
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