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Mortgage Lenders' Exclusivity Clock Reset

Law360 (October 25, 2007, 12:00 AM EDT) -- Mortgage Lenders Network USA Inc. has won a second extension of its exclusivity period for submitting a reorganization plan, with a bankruptcy court judge agreeing to push the deadline back another six months.

Judge Peter Walsh of the U.S. Bankruptcy Court of Delaware on Wednesday agreed to give Mortgage Lenders Network another 90 days to provide a reorganization plan, slightly less than the 120 days the lender had requested. The judge also added another 90 days to the lender's exclusive solicitation period, also short of the...
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