Ditech Seeking Ch. 11 Sale As It Negotiates With Creditors

Law360, New York (April 11, 2019, 8:55 PM EDT) -- Ditech Holding Corp. has temporarily put off distributing a Chapter 11 plan and seeking final full approval for debtor-in-possession financing while it negotiates a global settlement with its creditor base and engages with parties interested in buying its loan origination and servicing businesses, a Ditech bankruptcy attorney said Thursday.

In an effort to improve the outcome of its Chapter 11 case for a range of secured and unsecured stakeholders, the Pennsylvania-based mortgage lending company is busy piecing together a transaction or set of transactions with competitors and other parties interested in its portfolio of assets, according to Ditech’s counsel from Weil...

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