People's Choice Seeks Exclusivity Extension

Law360, New York (September 26, 2007, 12:00 AM EDT) -- People's Choice Home Loans Inc. has asked a California bankruptcy judge for a two-month extension of its exclusive rights to file and lobby for support of a reorganization plan, warning that allowing any parties other than the debtors and the official committee of unsecured creditors to file a plan could torpedo the non-prime mortgage lender's restructuring process.

People's Choice filed its extension bid on Tuesday, asking U.S. Bankruptcy Judge Robert N. Kwan to extend the debtors' exclusive rights to file a plan until until Nov. 30,...
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