Mortgage Lenders Network requests 83-day exclusivity extension

By Caroline Salls

Pittsburgh, May 15 - Mortgage Lenders Network USA, Inc. has requested a fifth extension to its exclusive periods to file a plan of liquidation and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to Aug. 6 from May 15 and the solicitation period to Oct. 6 from June 30.

Although it already filed a plan and related disclosure statement on March 12, the company said it needs more time to allow the official committee of unsecured creditors to complete settlement discussions that could result in the filing of a consensual plan.

A hearing is scheduled for June 24.

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

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