People's Choice Creditors Get Breathing Room

Law360, New York (July 11, 2008, 12:00 AM EDT) -- A bankruptcy judge has approved a request by unsecured creditors of People's Choice Home Loan Inc. for more time to rally support for the lender's Chapter 11 exit plan.

Judge Robert Kwan, of the U.S. Bankruptcy Court for the Central District of California, on Thursday signed off on the exclusivity extension, giving the official committee of unsecured creditors until July 31 to solicit approval for the plan.

The committee sought the extra time in a motion May 23, saying they faced a Sept. 15 deadline to...
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