Aegis Mortgage granted three-month exclusivity extension

By Caroline Salls

Pittsburgh, Jan. 10 - Aegis Mortgage Corp. received an 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.

Specifically, the company's exclusive plan-filing period was extended to March 10 from Dec. 11 and the solicitation period to May 9 from Feb. 9.

In the motion, Aegis said it had been in bankruptcy for only four months and it has been focusing on selling its mortgage loans, liquidating other assets and transferring mortgage servicing assets.

Based on the complexity of the case, the company said it needs more time to formulate a liquidation plan.

Aegis Mortgage, a Houston-based mortgage production franchise, filed for bankruptcy on Aug. 13. Its Chapter 11 case number is 07-11119.

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