Prommis' Foreclosure Service Unit Joins Ch. 11 Case

Law360, New York (June 26, 2013, 6:58 PM EDT) -- A unit of mortgage processor Prommis Holdings Inc. sought Chapter 11 protection Tuesday in Delaware, looking to join the bankruptcy proceedings already commenced by Prommis in March.

The unit EC Closing Corp. listed between $10 million and $50 million in assets and between $50 million and $100 million in debts in its Chapter 11 petition. Its entrance into bankruptcy came almost a month after Prommis sold certain EC Closing assets to Cypress Innovations Inc., according to court documents.

EC Closing, formerly known as Cal-Western Reconveyance Corp....
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