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Ditech Returns to Bankruptcy Court, Can’t Shake Debt Load (2)

Feb. 11, 2019, 2:25 PM

Ditech Holding Corp., the mortgage lender and servicer led by Tom Marano, filed for Chapter 11 protection with a plan to cut more than $800 million of borrowings after an earlier bankruptcy by his predecessors failed to strip away enough of its debt.

The company listed both assets and debt in the range of $10 billion to $50 billion in its filing in U.S. Bankruptcy Court, Southern District of New York. The company will seek court approval of a $1.9 billion debtor-in-possession loan to finance operations during the bankruptcy.

Ditech, based in Fort Washington, Pa., signed a restructuring support agreement ...

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