Judge OKs Met Mortgage Bid to Liquidate Assets

Law360, New York (February 13, 2006, 12:00 AM EST) -- A federal bankruptcy judge has greenlighted a bid by Metropolitan Mortgage & Securities Co. to liquidate the company's assets, thereby launching a process to repay thousands of creditors who expect to initially receive less than 10 cents on the dollar.

U.S. Bankruptcy Judge Patricia C. Williams approved the plan last week, put forth late last year by a joint committee of debtors and creditors of the collapsed corporation that was once billed as a $2.7 billion giant. The plan was endorsed by the company’s noteholders....
To view the full article, register now.



Case Information

Case Title

Securities and Exchange Commission v. Sandifur, Jr et al

Case Number



Washington Western

Nature of Suit



John C Coughenour

Date Filed

September 26, 2005

Law Firms

Government Agencies

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.