Mortgage Lenders Asks Judge To Add Time To Its Clock

Law360, New York (February 19, 2008, 12:00 AM EST) -- Bankrupt Mortgage Lenders USA Inc. is asking a judge to allow it more time to maintain its exclusive right to file a reorganization plan, saying negotiations between creditor groups have not allowed it to press ahead.

In January, Judge Peter J. Walsh extended the company's exclusivity, giving it until Feb. 22 to file a plan. But the company asked the judge in a Monday filing in the U.S. Bankruptcy Court for the District of Delaware for 60 more days or until April 22.

The company would...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.