Mortgages Ltd. Investors Ask To Form Committee

Law360, New York (September 23, 2008, 12:00 AM EDT) -- Investors who contributed to a fund that bankrupt Mortgages Ltd. used to fulfill loan obligations to another fund have asked the judge overseeing the Chapter 11 proceedings to form an official committee to represent their interests.

The group of 44 investors put money into Mortgages Ltd.'s Value-To-Loan Opportunity Fund I LLC, which is believed to have extended about $7.7 million worth of loans to the mortgage lender's investor opportunity funds or pools, known as MP funds, it claimed on Monday.

Each of the VTL Fund investors...
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