WMC Mortgage eyes exclusivity extension to allow confirmation of plan

By Caroline Salls

Pittsburgh, Aug. 20 – WMC Mortgage, LLC asked the U.S. Bankruptcy Court for the District of Delaware to extend its exclusive Chapter 11 plan filing and vote solicitation periods, according to a motion filed Tuesday.

Specifically, WMC Mortgage is asking the court to extend its exclusive filing period by 120 days through Sept. 19 and the solicitation period through Feb. 18.

As previously reported, the company filed its plan of liquidation and related disclosure statement on Aug. 2. The disclosure statement approval hearing is scheduled for Sept. 13.

“This is the debtor’s first request for extensions of the exclusive periods, and the request is solely to allow the debtor the time necessary to confirm the plan, which will maximize the potential recoveries for its stakeholders,” the motion said.

A hearing on approval of the exclusivity extension is also scheduled for Sept. 13.

WMC is a Woodland Hills, Calif.-based mortgage originator. The company filed bankruptcy on April 23 under Chapter 11 case number 19-10879.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.