Ditech | NRZ Message Board Posts

New Residential Investment Corp.

  NRZ website

NRZ   /  Message Board  /  Read Message



Rec'd By
Authored By
Minimum Recs
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  3017 of 3248  at  9/10/2019 5:30:53 PM  by



Ditech Holding Corporation Reaches Consensual Resolution of Objections to Plan of Reorganization
PR Newswire PR Newswire•September 10, 2019

Will Seek Confirmation of Plan of Reorganization at Hearing Scheduled for September 25, 2019

FORT WASHINGTON, Pa., Sept. 10, 2019 /PRNewswire/ -- Ditech Holding Corporation ("Ditech Holding" or, together with its subsidiaries, the "Company") (OTC Pink: DHCPQ) announced today that it has reached a consensual resolution with the Consumer Creditors' Committee regarding its objections to the Company's Amended Joint Plan of Reorganization (the "Plan"). Ditech Holding will modify the Plan to address issues raised by the Court regarding the handling of certain consumer claims and satisfy a number of legal and evidentiary requirements. The Company intends to seek Court approval of the Plan, including its previously announced asset purchase agreement with New Residential Investment Corp. ("New Residential") and stock and asset purchase agreement with Mortgage Assets Management, LLC and its affiliate (collectively, "Mortgage Assets"), at a hearing currently scheduled for Wednesday, September 25, 2019.

"We are pleased to have reached this consensual resolution with the Consumer Creditors Committee, which addresses the issues raised by the Court and represents an important step toward completing the court-supervised sale process," said Thomas F. Marano, Chairman of the Board and Chief Executive Officer of Ditech Holding. "We continue to believe these value-maximizing transactions are in the best interest of all our stakeholders, including homeowners, and we look forward to submitting our amended Plan to the Court. I would like to thank all of our employees for their continued hard work and commitment to supporting our customers throughout this process."

Until the transactions close, Ditech Financial LLC and Reverse Mortgage Solutions, Inc. ("RMS") will continue to operate as part of Ditech Holding and will continue serving customers as normal.

     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 3     Views: 226
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board

About Us  •  Contact Us  •  Follow Us on Twitter  •  Members Directory  •  Help Center  •  Advertise
Not a member yet? What are you waiting for? Create Account
Want to contribute? Support InvestorVillage by donating
© 2003-2019 Investorvillage.com. All rights reserved. User Agreement
Financial Market Data provided by