Quality Home Loan Creditor Files Ch. 11 Plan

Law360, New York (September 18, 2008, 12:00 AM EDT) -- A creditor of Quality Home Loans Inc. filed a Chapter 11 restructuring plan for the bankrupt mortgage lender Wednesday.

Under the terms of the plan, which was filed in U.S. Bankruptcy Court for the Central District of California by representatives of creditor Shalom Rubanowitz, Quality Home Loans would either continue to operate in order to pay back its secured creditors or be sold to the highest bidder.

If the court does not confirm a sale of all of Quality Home Loans' assets, then the Chapter 11...
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