Mortgage Lenders exclusivity extension approved

By Caroline Salls

Pittsburgh, March 25 - Mortgage Lenders Network USA, Inc. received an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to May 15 from Feb. 22 and the solicitation period to June 30 from April 7.

Mortgage Lenders said it has been forced to suspend the plan development process and it needs more time because it has to wait until its official committee of unsecured creditors is available to negotiate terms of a consensual plan.

Mortgage Lenders Network, a Middletown, Conn.-based lending company, filed for bankruptcy on Feb. 5, 2007. Its Chapter 11 case number is 07-10146.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.