Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Mortgage lender's pre-pack is "rigged sale", noteholder says

By Declan Bush

11 July 2019

US mortgage lender Stearns Holdings has filed a pre-packaged Chapter 11 plan in New York, but its major noteholder is already accusing it of promoting a “rigged sale” to asset manager Blackstone.

Mortgage lender's pre-pack is "rigged sale", noteholder says Stearns Holdings has filed for Chapter 11. (Credit: iStock.com/BrianAJackson)