Dispute Over Alliance Mortgage's Trustee Resolved

Law360, New York (September 14, 2007, 12:00 AM EDT) -- A bankruptcy judge has agreed to resolve the ongoing dispute over the election of a permanent trustee to oversee Alliance Mortgage Investments Inc.’s Chapter 7 case, appointing as trustee the candidate nominated by administrative agent Wells Fargo Bank NA and other lenders.

On Wednesday, Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware granted Wells Fargo’s motion to appoint Tracy L. Klestadt permanent trustee of AMI and its bankrupt subsidiary Alliance Bancorp.

Wells Fargo, which is an administrative agent under a...
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