Hedge Fund Manager To Buy Quality Home Loans

Law360, New York (September 5, 2007, 12:00 AM EDT) -- In a move expected to speed up Quality Home Loans' journey through Chapter 11, the bankrupt hard money lender will be acquired by entrepreneur and hedge fund manager Michael B. Klein.

Quality Home Loans, which filed for bankruptcy protection in California on Aug. 21, will be bought by Quality Loans LLC, a company Klein owns personally, he said in an e-mail on Wednesday. Klein is the chief investment officer at the Santa Barbara, Ca.-based hedge fund Pacificor LLC.

The details of the deal, which remains subject...
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