PMI Wins Confirmation Of Ch. 11 Reorganization Plan

Law360, Wilmington (July 24, 2013, 8:36 PM EDT) -- PMI Group Inc. secured confirmation of its Chapter 11 plan Wednesday as a Delaware bankruptcy judge agreed to sign off on a reorganization that will see the mortgage insurance holding company pay creditors $200 million in cash and emerge as a going concern.

U.S. Bankruptcy Judge Brendan L. Shannon removed major roadblocks to PMI's exit path when he overruled key objections at a confirmation hearing Friday, but final approval had been left to hang fire after time constraints prevented the court from tackling other outstanding issues....
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