Lomas Financial Files Chapter 11: Lomas Financial...

Lomas Financial Files Chapter 11: Lomas Financial Corp. became one of the largest financial firms in the country to seek court protection under Chapter 11 of the Federal Bankruptcy Code, the New York Times reported. Lomas said it had halted payments indefinitely on $2.1 billion in debt held by 47 unsecured lenders led by Chase Manhattan Bank and the Bank of New York. The filing, made in New York, affects only Lomas Financial, the Dallas holding company, and one of several operating subsidiaries, Lomas Realty U.S.A.; 11 other Lomas subsidiaries are not involved, the Times said.