Court Approves People's Choice Creditors' Plan

Law360, New York (May 5, 2008, 12:00 AM EDT) -- The official unsecured creditors committee of People's Choice Home Loan Inc. won two major victories in the company's ongoing Chapter 11 proceedings when a court approved the disclosure statement submitted by the group and named the unsecured creditors the sole reorganization plan proponent.

In two rulings issued on April 22, the U.S. Bankruptcy Court for the Central District of California approved the disclosure statement submitted by the unsecured creditors committee and granted the committee's emergency motion to be named the sole proponent under People's Choice's third...
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