Castle Holdco 4, Countrywide Group schemes sanctioned by U.K. court

By Caroline Salls

Pittsburgh, May 6 - Castle Holdco 4 and the Countrywide Group's schemes of arrangement were sanctioned by the High Court of Justice of England and Wales, according to a company news release.

The Grand Court of the Cayman Islands will hold a final hearing to sanction the schemes on May 7, and the schemes are expected to take effect on May 8.

Castle acquired Countrywide plc, a Witham, England-based real estate company, in May 2007.

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