Bankruptcy Judge Confirms People's Choice Exit Plan

Law360, New York (July 29, 2008, 12:00 AM EDT) -- People's Choice Home Loan Inc. moved one step closer to emerging from Chapter 11 when a bankruptcy judge confirmed the liquidation plan drafted by the mortgage lender's creditors.

Judge Robert Kwan, of the U.S. Bankruptcy Court for the Central District of California, confirmed the amended plan at a hearing on Friday and is expected to issue his order soon.

People's Choice lawyer Eric Sagerman, of Winston & Strawn LLP, said the order wraps up the pre-confirmation phase of the lender's bankruptcy case, which will now be...
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