First Guaranty Mortgage names LVS II SPE winning bidder for assets

By Sarah Lizee

Olympia, Wash., Oct. 25 – First Guaranty Mortgage Corp. named LVS II SPE XXXIV LLC the winning bidder for its assets, according to a notice filed with the U.S. Bankruptcy Court for the District of Delaware.

The company said LVS’ bid was the only qualified bid it received. As such, the Oct. 25 auction was canceled.

Details of the bid were not disclosed in the notice.

A sale hearing will take place on Oct. 31.

The Plano, Tex.-based mortgage lender filed Chapter 11 bankruptcy on June 30 under case number 22-10584.

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