People's Choice, Merrill Strike Deal Over Contract

Law360, New York (December 3, 2007, 12:00 AM EST) -- Bankrupt home lender People's Choice Home Loan Inc. and creditor Merrill Lynch Mortgage Lending Inc. have settled a dispute over a rejected contract, with Merrill agreeing to file a single claim in People's Choice's Chapter 11 case.

In a stipulation filed on Nov. 29 in the U.S. District Court for the Central District of California, People's Choice said that the two firms had reached an agreement related to a mortgage loan purchase and interim service agreement that People's Choice had voided upon filing for Chapter 11....
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