U.S. Trustee Disputes Election In Alliance Bankruptcy

Law360, New York (August 24, 2007, 12:00 AM EDT) -- The U.S. Trustee has objected to a permanent trustee in the bankruptcy of mortgage broker Alliance Mortgage Investments Inc., saying that the creditors had no right to elect one in the first place.

In a motion filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, attorneys for U.S. Trustee Kelly Beaudin Stapleton said that Wells Fargo Bank—which asked for the election—doesn't have the claims to make such a request.

The Trustee said that the holders of secured claims or of administrative priority claims...
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.