Reuters – Four top executives of Thornburg Mortgage improperly paid themselves handsome bonuses just before the mortgage lender filed for bankruptcy last year, and stole money and ideas from Thornburg to secretly launch a new firm, the bankruptcy trustee in charge of liquidating the lender alleged in a lawsuit.
If you enjoyed this post, make sure you subscribe to my RSS feed!
AP – Attorneys for retired Visteon workers are appealing a bankruptcy judge’s order allowing the auto parts supplier to terminate their health and life insurance benefits.
If you enjoyed this post, make sure you subscribe to my RSS feed!
Reuters – In a win for the banking industry, the U.S. House of Representatives voted on Friday to reject a measure that would have allowed bankruptcy judges to change the terms of mortgages for distressed homeowners.
If you enjoyed this post, make sure you subscribe to my RSS feed!
AP – General Growth Properties Inc. said Wednesday lenders have agreed to restructure about $9.7 billion in debt under a plan that will allow 92 of its properties to emerge from bankruptcy protection by the end of the year.
If you enjoyed this post, make sure you subscribe to my RSS feed!
Reuters – Freddie Mac, the U.S. mortgage finance giant, said on Monday it is seeking $595 million in loan payments and other funds hung up after the bankruptcy of lender Taylor, Bean & Whitaker.
If you enjoyed this post, make sure you subscribe to my RSS feed!
AP – Mortgage finance company Freddie Mac said Monday it could lose $500 million or more as a result of the bankruptcy protection filing of Taylor, Bean & Whitaker Mortgage Corp.
If you enjoyed this post, make sure you subscribe to my RSS feed!
AP – The New Hampshire attorney general’s office wants to force a mortgage company that closed suddenly into bankruptcy.
If you enjoyed this post, make sure you subscribe to my RSS feed!
AP – Mall operator General Growth Properties Inc., which filed the largest U.S. real estate bankruptcy case in history earlier this year, said Thursday its lenders have agreed to restructure some $8.9 billion in shopping mall mortgage loans.
If you enjoyed this post, make sure you subscribe to my RSS feed!
Reuters – A bankruptcy judge appointed a trustee to take over the liquidation of Thornburg Mortgage after it was discovered former executives were using staff and equipment to launch a start-up venture.
If you enjoyed this post, make sure you subscribe to my RSS feed!
