Delta Financial Ch. 11 Liquidation Plan Confirmed

Law360, New York (December 10, 2008, 12:00 AM EST) -- The U.S. Bankruptcy Court for the District of Delaware has confirmed Delta Financial Corp.’s second amended Chapter 11 liquidation plan.

The plan was confirmed at a hearing on Dec. 8, and is currently awaiting the judge’s approval of the final order, an attorney for the debtors said.

The plan will allow a court-appointed trustee to move forward with liquidating Delta Financial’s assets and liabilities from a liquidation trust.

The specific details of the liquidation plan were not disclosed due to the judge’s pending approval.

Judge Christopher...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.