Judge Confirms Fieldstone's Reorganization Plan

Law360, New York (July 15, 2008, 12:00 AM EDT) -- A bankruptcy judge has approved a reorganization plan for Fieldstone Mortgage Co. following a vote by its creditors, paving the way for the company to leave Chapter 11 protection.

Judge James F. Schneider of the U.S. Bankruptcy Court for the District of Maryland ruled Friday that the plan complied with bankruptcy law and represented a fair resolution for the company's creditors, following a confirmation hearing held the previous day.

“The revised plan fairly achieves a result consistent with the objectives and purposes of the Bankruptcy Code,”...
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