We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Mortgage-Lender Spectrum Converts To Chapter 7

Law360 (October 17, 2007, 12:00 AM EDT) -- Fewer than two months after filing for Chapter 11 bankruptcy, Spectrum Financial Group Inc. succeeded in changing its proceedings to a Chapter 7 liquidation.

Judge Sarah Sharer Curley of the U.S. Bankruptcy Court for the District of Arizona granted Spectrum's request to convert the case Tuesday, according to court documents.

Earlier on Tuesday, the Scottsdale-based company, which had billed itself Arizona's largest private mortgage broker, filed a motion to convert the case to Chapter 7.

“The debtor has determined that based upon current operations there is...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.