Reverse Mortgage Investment Trust seeks exclusivity extension

By Sarah Lizee

Olympia, Wash., March 30 – Reverse Mortgage Investment Trust Inc. is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the exclusive plan filing period through June 28 and the exclusive solicitation period through Aug. 28.

As previously reported, the company has received conditional approval of the disclosure statement for its Chapter 11 plan. The combined hearing on final approval of the disclosure statement and confirmation of the plan is scheduled for April 27.

The company said it is seeking the extension out of an abundance of caution to allow for enough time to modify the plan and resolicit votes if needed.

The Bloomfield, N.J.-based reverse mortgage issuer filed Chapter 11 bankruptcy on Nov. 30 under case number 22-11225.

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