Reorganization Accord Reached: Mortgage & Realty Trust,...
From Times Staff and Wire Reports
Reorganization Accord Reached: Mortgage & Realty Trust, a major real estate investment trust in Burbank that is operating under bankruptcy court protection, said it reached a tentative agreement with its creditor and stockholder committees on a reorganization plan. The plan, replacing one submitted by Mortgage & Realty on Sept. 7, calls for the company to repay its debts with interest within 4 1/2 years. The proposal first must be approved by the U.S. Bankruptcy Court.
