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Mortgage Lenders Seeks Second Exclusivity Extension

Law360 (October 3, 2007, 12:00 AM EDT) -- Mortgage Lenders Network USA Inc. has asked a bankruptcy court judge to extend its exclusive period for submitting a reorganization plan by six months, in an attempt to have the deadline pushed back for a second time.

The mortgage lender lodged a motion for more time on Monday in the U.S. Bankruptcy Court of Delaware, a day before the exclusivity period expired, arguing that an extension was justified because the Chapter 11 case involved complicated liquidations and litigations.

“Cause exists in the debtor's case for extending...
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