People's Choice, Qwest Deal Gets Green Light

Law360, New York (October 11, 2007, 12:00 AM EDT) -- Another obstacle has been cleared from the path to People’s Choice Home Loans Inc.’s emergence from Chapter 11. A judge has signed off on the subprime lender’s proposed deal to settle accounts with Qwest Communications Corp. following the lender’s sale of the bulk of its assets to UBS AG a few months ago.

The gist of the deal was inked in July, just after Judge Robert Kwan of the U.S. Bankruptcy Court for the Central District of California approved People’s Choice’s plan to sell its single-family...
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