Reverse Mortgage Investment Trust secures exclusivity extension

By Sarah Lizee

Olympia, Wash., April 14 – Reverse Mortgage Investment Trust Inc. received an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended 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 sought 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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