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 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.