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Walter Investment Ch. 11 Plan Releases Stir Up Concerns

Law360, New York (January 2, 2018, 6:01 PM EST) -- The U.S. trustee's office and a putative class of shareholders have taken issue with an alleged lack of specifics on how third-party releases will affect certain claim holders in Walter Investment Management Corp.'s Chapter 11 plan in New York bankruptcy court.

Before it can confirm a plan of reorganization, the bankrupt mortgage lender and servicer must revise some of the language in its prenegotiated proposals to state that certain parties will not lose the right to litigate claims against affiliated nondebtors, the government’s bankruptcy watchdog and...
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