Quality Home Loans debtor can't confirm plan, requests case dismissal

By Caroline Salls

Pittsburgh, June 29 - Quality Home Loans debtor California TD Investments, LLC asked the U.S. Bankruptcy Court for the Central District of California to dismiss its Chapter 11 bankruptcy case, according to a Tuesday court filing.

"At the present, time, the debtor has determined that it does not have the ability to propose a confirmable plan and has determined that it is in the best interests of the creditors of this estate to dismiss the case," the company said in the motion.

California TD Investments said most of its assets were assigned to funds under a global settlement. The company had $27,499 in cash at May 31.

A hearing is scheduled for July 26.

Quality Home Loans, an Agoura Hills, Calif., mortgage lender, filed for bankruptcy on Aug. 21, 2007. The case is being administered under the name California TD Investments, LLC. Its Chapter 11 case number is 07-13006.

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