People's Choice Creditors Seek OK To Go After Execs

Law360, New York (September 7, 2007, 12:00 AM EDT) -- Creditors of People's Choice Home Loan Inc. have asked the bankruptcy court for approval to pursue claims against executives of the defunct mortgage lender on behalf of the estate.

The official committee of unsecured creditors, in a motion filed Thursday in the U.S. Bankruptcy Court for the Central District of California, asked Judge Robert Kwan for authority to take “all actions necessary” against directors and officers.

The committee told Judge Kwan that it would have to take the lead in pursuing action on behalf of the...
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